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Airbnb did not significantly hinder leasability in Sydney and Melbourne, reported



Updated

November 08, 2018 00:14:46

Airbnb does not make rental leases "significantly" worse, but reduces the number of properties available for long-term tenants in Sydney and Melbourne.

Key points:

  • The highest density of the Sydney and Melbourne Airbnb lists is located in the suburban and inner-city suburbs.
  • The high demand & # 39; 9-15pc of rental properties in regions are listed in Airbnb
  • The study shows that this trend results in fewer options for long-term tenants

According to a new report released today, "high demand", especially in the "high demand" suburbs.

The Australian Housing and Urban Research Institute (AHURI) has been investigating the extent to which short-term rental has contributed to the availability of housing affordability. "Airbnb lists.

The research team – academics from the University of New South Wales (UNSW) and Swinburne University of Technology – have been described as "commercial" as an entire house or apartment rented for more than three months (90 days) each year.

The reasons why people rent their homes[ing] New people help to "manage" the cost of owning / renting, and in particular "Airbnb properties as a company".

Which is in the suburbs & # 39; high demand & # 39; there is?

In Sydney, Darlinghurst and the suburban suburbs (Bondi, Bronte, Coogee and Manly) were the intensification of commercial Airbnb lists and accounted for 11-15 percent of all leased property.

In November 2014 there were approximately 5,000 Sydney lists, reaching approximately 28,000. However, this figure fell to about 20,000 in February 2018.

Sydney tends to live on an increase in Airbnb charts in December and January – a period that coincides with Christmas and its famous New Year's fireworks.

In Melbourne, 9 to 15 percent of all rental properties in Central Melbourne, Docklands, Southbank, Fitzroy and St Kilda clusters were commercial Airbnb lists.

In the Melbourne charts, there was an increase from 5,000 (August 2015) to 18,000 (February 2018).

Dr. Dr. Laura Crommelin said, d There is even a small discount for existing rental properties, since rent markets in Sydney and Melbourne are not suitable for low-income tenants. Laur

He observed that in the "high demand" suburbs, there was a decline in borrowing rates and increased ownership gaps.

His team researched 491 Airbnb hosts from Sydney and Melbourne, especially because the early growth of Airbnb in Australia occurred in these major cities, as it was gel more extensive data sets E.

They also analyzed the lease contract data and the numbers obtained from AirDNA, a company that collects Airbnb lists every month, and reported the availability and availability of each list.

Reshape the investment real estate market

The report suggested that this increase in short-term Airbnb leases has given up on long-term rentals and "contributed to the increase of unbearability in the private leasing sector".

However, in Melbourne, this has been offset by an explosion in the construction of apartments in recent years, and many people are Melbourne empty Ancak.

"We have found some evidence that Airbnb is reshaping the investment property market in Australia," Dr Crommelin said. Said.

. For example, real estate agents claiming that real estate agents will pay 2 to 3 percent premium for properties showing a more efficient Airbnb revenue stream, ç he said.

"Similarly, Airbnb property managers said their business is growing rapidly, as it allows some investors to get better returns in the short term than long-term leases."

Headlines:

business-economics-and-finance,

housing-industry,

internet technology,

urban development-and-planning,

Australia,

sydney-2000,

Melbourne-3000

First announced

November 08, 2018 at 00:06:51


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