Rental Pressures Drive Rise In Co-Tenancy Across Mackay

Tenants across Mackay are increasingly sharing homes as tight vacancy rates and rising living costs reshape the local rental market. Photo source Mackay Regional Council

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Living alone is increasingly out of reach for many Mackay renters, with new data showing more tenants are teaming up to share the cost of housing.

The latest report from the Real Estate Institute of Queensland (REIQ) found the state’s vacancy rate has tightened to 0.9 per cent, with Mackay sitting at just 1.2 per cent; well below what’s considered a ‘healthy’ market.

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REIQ CEO Antonia Mercorella said rising living costs are changing how people approach renting.

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“We are seeing a clear shift in rental behaviour, with more tenants forming co-tenancies - joining forces to share costs and expand their options,” Ms Mercorella said.

“Pooling resources can open the door to higher-quality properties or better-located homes that might otherwise be out of reach for individuals renting alone.”

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She said while co-tenancy is offering short-term relief, it’s not a long-term fix.

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“To ease pressure sustainably, we need to address the underlying issue of housing supply,” she said.

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Despite slight easing in some areas, rental markets across Queensland remain tight, with affordability continuing to challenge renters across regional centres like Mackay.

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