2025年共同生活报告

SUPPLY ACCELERATESCo-living disrupts the status quo From niche and misunderstood to the cool newkid on the block, co-living has established itselfin Australia as a genuine alternative to traditionalhousing types. The total number of operationalco-living units has now surpassed the 2,000 unitmark as the sector’s emergence continues at pace. A APPETITE FOR SCALE SYDNEY DOMINATES Delving further into the pipeline showsanother clear trend – schemes are getting larger.On average completed schemes have 37 units,rising to 60 units for schemes under constructionand to 78 units for those with developmentapproval. This jumps again to an average sizeof 130 units for projects either in planning orproposed. This is a trend we have seen emergein other international markets that are further Sydney is the bellwether for the asset class in Australia,accounting for over 90% of completed schemes nationally.This trend is notably different from the Build-to-Rent sector, Whilst the macro drivers underpinning the demand forco-living are present across the country, New South Waleshas benefited from a clear and supportive planning pathway, In addition, Sydney’s land market is highly constrainedand the efficient nature of the co-living model unlocks siteswhere lower-density housing options are not feasible. Anestablished operational base of first generation assets has First generation assets have been crucial inthis regard, laying the foundation for largerdevelopments to come through by providinga host of operational data around rents,occupancy and operating expenses. The Despite a more uncertain path to market, co-living isbeginning to gain traction in other states as first moversenter the sector. In total there are approximately 1,110units in the development pipeline across Victoria, WesternAustralia and Queensland – this represents progress but isstill a relatively small figure that highlights both the nascentstage of the market and the opportunity for growth. We LOCATION & LIFESTYLE The success of co-living in Sydneyhas shown that tenants are happy tocompromise on private space in returnfor location and lifestyle. Co-livingdevelopments are typically situated Co-living provides an entry point intopopular rental locations and at thesame time offers a lifestyle not availableelsewhere; hassle free studio living with Total co-living pipeline sits at over7,800 units nationally UNDERSTANDING DEMANDThe broad appeal of Co-living Data from completed schemes operatedby UKO demonstrates that co-livingappeals to a broad demographic.As expected co-living is popularamongst younger age groups withalmost 90% of tenants aged between20 and 40. Breaking this down further,the 20 to 30 year age group dominates AFFORDABILITY IS KING The affordability of co-living is oftenunderestimated because of the all-inclusivemodel. Rooms are fully furnished, utilities arebundled into the weekly rent, and residents Our analysis of completed developmentsin Inner Sydney demonstrates co-living’srelative affordability, with average startingrents of just $675 per week. In comparison,a privately leased apartment averages $730per week, and once utilities and furnishingsare added, the like-for-like cost typicallyrises to an estimated $880 per week.Student accommodation, driven by stronginternational demand, averages $780 per The analysis confirms that the primarydriver for co-living is from young, workingprofessionals, with just over 60% employedacross a wide range of sectors. Dependingon scheme location and proximity touniversities, students often form the Co-living presents as an affordableproduct when compared to theprivate rental market and alternative •A comparable rental and amenityproposition which matches the typicalneeds of students; UNHERALDED FLEXIBILITY •A shortage of PBSA options in thearea with co-living absorbing overflow Whilst adjacent living sectors sharesimilarities to co-living, the flexible nature ofthe occupancy truly differentiates the modelfrom other housing options. Co-living bridgesthe gap between short stay accommodationand traditional long stay residentialapartments, with lease terms starting from 3months. This is the most popular entry routewith around 38% of tenants signing an initialcontract for a length of 3 months, slightly •An older, mixed demographic providinga rounded living experience whichmay appeal to postgraduates that are •Flexible lease terms that may not beavailable within competing PBSA stock; •Larger unit types and rents that areoften more affordable than comparablePBSA. Analysis of nationalities shows that demandfrom the domestic market is strong,accounting for approximately 47% of thetenant mix. A large cohort also comes fromAsia, drawn in by co-living’s all-inclusiveproduct which allows for a stress-free move Outside of co-living, options for mediumlength stays are scarce and often commanda premium. In an increasingly transientoccupier market, characterised by shifting CAPITAL CHASES CO-LIVINGCo