Thousands of Aussies are living with ex-partners as rents and mortgages soar

A shocking number of Aussies are living with or moving back in with their exes, as the cost of living leaves people trapped in substandard accommodation.

Three per cent of Australians admitted they stayed with or moved back in with an ex-partner to save money, according to new research from Finder.

That’s an estimated 612,000 people living in a very difficult area to make it.

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Rents and mortgage payments are rising, especially after two interest rate hikes this year.

Finder research found that the cost of living forced almost one in five (19 per cent), or around 4.1m people, to move in together in the past year for financial reasons, according to Finder.

One in 10 Aussies have moved in with parents or grandparents, or extended their stay, to ease the financial strain of living away from home.

Siblings were the second most likely people to live together (7 percent), followed by friends (4 percent).

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The finder revealed how many people live or live with others for financial reasons. Source: Find

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Income finance expert Taylor Blackburn said many Australians were making tough compromises just to keep a roof over their heads.

“Sky-high rental costs, rising interest rates and general cost-of-living pressures have made living alone even more difficult,” he said.

For many, living with others is no longer just a way of life – it’s a financial necessity.”

Cohabitation for financial reasons was more common by a significant margin in Victoria, where 33 per cent moved to save on accommodation costs.

That’s more than double the national rate, with 16 per cent of Queenslanders, 15 per cent of those in NSW, 14 per cent of West Aussies and just 11 per cent of South Australians having to do the same.

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Meet financial expert Taylor Blackburn. Image: Provided

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Young Australians often moved, or lived with others.

Thirty-nine percent of Gen Z have moved in with someone (or live in) for financial reasons in the past 12 months, compared to just 4 percent of Gen X and 27 percent of Millennials.

Full-time employment is not enough for most Aussies to support themselves; more than one in four (28 percent) of those who had full-time jobs had to quit for financial reasons in the past year.

“Irregular accommodation is becoming the norm as financial pressures leave Australians with no choice but to prioritize survival over luxury,” Mr Blackburn said.

He urged Aussies to build an emergency fund, to avoid finding themselves in an uncomfortable situation.

“Even a small financial barrier can be the difference between control and enforcement in situations you never imagined,” he said.

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