Living, Differently

Apt. Residential, Ultimo The Future of Co-Living in Australia 5 Living, Differently 4 Introduction Co-Living is moving from a niche housing model to a fast- growing part of Australia’s rental market, with around 4,700 units now operational nationally. Savills Australia’s inaugural Co-Living report examines the demand, supply and investment forces shaping its next phase of growth. Often positioned as a sub-sector of Build to Rent (BTR) but typically offering studio-style accommodation more akin to Purpose-Built Student Accommodation (PBSA), Co-Living gives the growing number of single-person households greater choice, convenience and flexibility in urban markets. WHAT EXACTLY IS CO-LIVING? Co-Living is a purpose-built, professionally managed rental product. Private units are usually smaller than traditional apartments, but enhanced by shared spaces, resident events and a stronger focus on community than is typically found in the wider private rental market or Build to Rent. Rents are generally all-inclusive, tenancy terms are flexible and furnished units come with Wi-Fi and utilities ready to use, creating a convenient, low-friction move-in experience for residents. WHO IS CO-LIVING FOR? Co-Living serves a broad renter base with no prescribed age restriction, including students, young professionals, temporary migrants and others who value convenience, flexibility and community. Residents are typically single, although some units are suitable for couples. The target-market assessment later in this report explores the strongest capital city markets and resident groups in more detail.