Habits of renters and sharers 2013

by Chris Lang on June 7, 2013

For rent

An interesting survey by realestate.com.au reveals curious insights into who the renters are, their age, income and reasons why they are renting instead of buying. They asked about 2500 people looking for a rental home a few questions online, and here’s what they found:

Most of the respondents were female (72%) – this is quite intriguing. I don’t think that renters are mostly women – but it could well be that more women than men are in charge of looking for a rental home, meaning the actual process of going through the listings online.

Renting appears to be the preference of younger people, aged less than 25 years (at 17%), who live in middle to low income households, earning less than 100K per year.

Sharers are also younger than 25 years (at 34%), living in lower income household (less than 50K a year at 38%), studying full time and single.

80% of surveyed tenants said they looked after their rental property the same way they would their own home, and 92% said they always pay their rent on time. Now that’s very encouraging news for any prospective landlords!

Tenants believe there are quite a few advantages to renting – they are able to invest their money elsewhere, and they can live in better areas, where they wouldn’t be able to afford to buy.

52% of tenants believe winter is a better period to search for property because fewer people are looking. While this may be true in some places, the competition is definitely still there – because 1 in every 5 tenants had to offer a higher rent to secure the property.

Price Range Sought By State

The price ranges sought remained relatively stable in each state, with the exception of Tasmania (however the sample size for this state was small). The most expensive markets remained NSW and WA, with the $400+ price range for WA significantly increasing this wave (now at 55%, up +12%).

The following stats highlight what the majority of respondents were paying in each state, including 2012 and 2013 comparisons:

NSW
Jan 12 – 41% were paying $400+ per week
Jan 13 – 47% were paying $400+ per week

ACT
Jan 12 – 41% were paying $400+ per week
Jan 13 – 47% were paying $400+ per week

VIC
Jan 12 – 33% were paying $200 – $300 per week
Jan 13 – 33% were paying $300 – $400 per week

QLD
Jan 12 – 37% were paying $300 – $400 per week
Jan 13 – 38% were paying $300 – $400 per week

WA
Jan 12 – 43% were paying $400+ per week
Jan 13 – 55% were paying $400+ per week
SA
Jan 12 – 38% were paying $200 – $300 per week
Jan 13 – 41% were paying $200 – $300 per week

NT
Jan 12 – 38% were paying $200 – $300 per week
Jan 13 – 41% were paying $200 – $300 per week

TAS
Jan 12 – 37% were paying $200 – $300 per week
Jan 13 – 44% were paying $200 – $300 per week

And the last but not least interesting bit – sharing can lead to a relationship! The research has shown that those who lease together, stick together. 14% of those surveyed had entered into a relationship with a fellow housemate, and more than half of those surveyed were still involved in the relationship. An incredible 29% of those who had entered into a relationship with a housemate had ended up getting married.

And now a question for the readers – are you renting or buying your home? Why did you make this decision?

{ 1 comment… read it below or add one }

Brian June 8, 2013 at 10:04 pm

We are renting at the moment.

In our late 50’s and both working close to the city we decided to try downsizing and rented an apartment in Footscray.

After 15 months we are really enjoying the move from Suburbia.
Commuting time down by around 90 mins per day.
Huge choice of cafes and restaurants within 10 mins walk
No gardening

Currently wondering about buying but in no hurry.

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