News and Announcements
The Room Exchange Tackles Subject of Housing Affordability
- Published May 09, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Sharing-economy companies Uber and Airbnb have thrived in Australia. The founder of The Room Xchange, Ludwina Dautovic believes her business will help solve the affordable housing crisis. The Room Xchange aims to generate greater economic benefit from the property assets people already have, in a similar way to Airbnb, but rather than renting out a room or property to holiday goers, the new start-up is providing cheap mid to log-term accommodation options for people who can’t afford to buy or rent their own place.
KEY TAKEAWAYS:
- Founded by Ludwina Dautovic, allows backpackers, students or other young people find a room to live in for free in exchange for 14 hours a week of housework.
- The platform generates revenue by charging both hosts and guests $2 per day- it has already attracted users from 24 countries.
- The platform launch come at a time when the average dwelling (houses and apartments) price in Sydney is about $800,000 and Melbourne is not too far behind at $610,000, according to the Australia Bureau of Statistics.
Sydney’s median house price has also already hit $1.1 million, making the dream of owning your own home an impossibility for many Australians, as wage growth has failed to keep up with the rapid rise in prices.
Ms Dautovic started The Room Xchange after her own experience letting her adult children’s friends stay in their home free of charge, in exchange for help with the housework.
“I essentially did no housework. I was able to spend my time painting [art works], or on weekends go away with my husband,” she said.
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