Short Term Rentals Have Minimal Impact On Housing Affordability In Australia
A landmark report from independent research firm Urbis reveals the short-term rental accommodation sector has no consistent impact on housing affordability. The Australian-first, peer-reviewed study, identified a range of factors that influence and impact housing affordability, but found no strong relationship between the proportion of homes used as non-hosted short term rentals and rental affordability. The Urbis report used data supplied by Airbnb to take a comprehensive look at the relationship between short-term rental accommodation and housing affordability. It found short-term rentals make up only 1 to 2 percent of the total housing stock across the country and highlighted no consistent relationship between the proportion of homes used as non-hosted short term rentals and vacancy rates for long-term rentals. The study also identifies locations around Australia with a greater proportion of short-term rentals, such as those with significant tourism and seasonal economies where visitation is vital to the local economy. The research found approximately 67 percent of Aussie Hosts listed their homes on short-term rental platforms to help combat financial pressures. According to ??surveys of Airbnb guests and Hosts across Australia undertaken in June and July 2023 around 30 percent primarily use the income generated to make ends meet, 23 percent to maintain and renovate their property, and 14 percent to afford the rising cost of living. Airbnb has long advocated for sustainable rules for the short-term rental sector in Australia and in 2022 announced a number of proposals including registration schemes, tourism levies, codes of conduct and protections for renters. The Urbis report used data supplied by Airbnb for listings between January 2016 to December 2022.
Tags : Short Term Rentals Minimal Impact Housing Affordability Australia Urbis Airbnb