With inflation, house prices, rents and the cost of living rising RBA Governor Philip Lowe told senate estimates this week more Australians need more people in their dwellings.
But for many this is already an uncomfortable reality as pressures have hit hard and those in the industry have confirmed it is already happening.
At 39 years old, Claire did not ever foresee herself having to share her housing with anyone other than her 18-year-old daughter.
For nine years she has rented houses for the pair but increasing cost of living pressures and rent rises meant they have had to open their Brisbane space up to strangers.
"The idea of sharing with somebody else, sharing my stuff I worked hard to achieve and have other people come in and not respect that space — that's a really hard thing to come to," Claire said.
She tried to make ends meet working part-time, running a business and doing other gig jobs such as food delivery.
Now working full-time in employment services and earning what she described as a middle income, filling the extra space was the only option left.
She said it was something her teenager struggled with.
"She's a very homely person and doesn't really like sharing her space," Claire said.
"Having other people has been an adjustment, her mental health has suffered."
With a family to take care of she said downsizing was unrealistic — and even if she did, the pricing for smaller houses was still "ridiculous."
"It's just beyond reasonable at this point, the cost of living, the ridiculous amounts of rent," she said.
"It's pathetic it's allowed to go on this long."
'We need more people to live in each dwelling'
During senate estimates Mr Lowe acknowledged more housing supply was needed but added that higher interest rates would alleviate some rental pressure by forcing people to "economise" their housing.
"That's the price mechanism at work. We need more people on average to live in each dwelling, and prices do that," Mr Lowe said.
However according to data from share accommodation site Flatmates.com.au, the number of people seeking to fill rooms in their homes has already significantly increased — with May 2023 breaking the record for the largest number of new users at 70,000.
Data provided showed the number of new sign ups each month had increased by up to 70 per cent compared to the same time last year.
Similarly, the number of active members increased up to 40 per cent compared to the same month last year.
The largest demographic on the website was still those aged 25-34, making up 31 per cent of their audience, followed by the 18-24 age group.
However, both of those age groups have declined by at least five per cent since May 2022.
Meanwhile the 55-64 age group has increased by 10 per cent in the same period.
Flatmates.com.au community manager Claudia Conley said there were a number of factors driving the 55-64 year age group increase, including marriage breakdowns, lifestyle change and entering into retirement.
"The older demographic is also experiencing loneliness across the country and are choosing to move for companionship," she said.
For home owners, with rate rises pushing up mortgage costs she said a lot of people were seeing spare rooms they could rent out for additional income.
Similarly, she said cost of living is driving fewer young people to move out of their parents' homes, especially when they have the option to stay at home rent free.
She said like open houses, competition for spots in share houses is fierce.
"For people renting a room there are up to 70 people applying," she said.
Regarding Mr Lowe's comments, Ms Conley agreed share accommodation was one of many solutions to the current rental crisis.
"The biggest solution is supply, but obviously building homes takes time," she said.
"Share housing is a quick solution to a very large problem."
'Bitter pill to swallow'
For Ballina resident Warren, his choice was between saving his business, his unit, or sharing.
Previously rent for his health clinic had increased at CPI, but the landlord this year plans to increase the cost to match market value— 44 per cent higher than what he pays now.
The 48-year-old also expects his mortgage repayments to increase by an extra $600 a month as he comes off fixed rates in December.
"And there's just no way I can take on the business rent increase and six months down the line take on the increase in the mortgage payments," he said.
"It's just impossible."
Knowing what was coming he has chosen to move in with a friend and place his unit up for rent to make ends meet.
"It's been a bitter pill to swallow," he said.
"I don't want to wait until the end of the year and find myself in a world of financial trouble where I'm back pedalling and I'm in over my head."
Having worked in the acupuncture, osteopathy and massage industry for 21 years and owned his Ballina business for five, closing the business and finding a new job was something he wanted to avoid.
"I came to Australia 12 years ago, as an international student, worked solidly hard, saving, saving, saving, saving," he said.
"Two years ago, I felt really chuffed I was able to buy myself the unit. I spent a little on the flat improving it. I've made it quite nice and had a sense of achievement.
"To give it up to somebody else who doesn't care about it as much – it doesn't feel great.
"I'm looking at it as an asset as opposed to my home, I don't have to sell it, but I didn't think this would happen."
'Feel happier flat sharing'
For some though the news isn't all bad and is a welcome lifestyle choice.
Rebecca McLean had managed to find a place to live alone in Brisbane for the first time at the beginning of 2022.
But after a year, the 24-year-old found herself back in share housing again — fortunately it worked in her favour.
"When it came around to renewing my lease I decided there was no way I could afford my rent on top of all the utility increases as well," she said.
"Just so I could have peace of my own mind I decided to go back to flat sharing."
For her the move has meant she is no longer "constantly stressed".
"I had to take up a second part-time job as an Uber Eats driver just to afford my bills," she said.
"It was rough living alone — being able to afford things is a lot better."
The full-time graphic designer said ideally, she would have preferred to continue living alone, but has managed to find great flatmates and a good home.
But she acknowledged she got lucky.
"It was just a gamble, such a fluke I found the place," she said.
"When I was looking for a new place, I found even the prices of some rooms for flat sharing were getting up to the price of the one-bedroom apartment.
"Sometimes maybe flat sharing isn't even affordable."
