News

Air BNB affects long term rentals

Given all the media attention regarding Airbnb and short stay accommodation affecting the long term supply of housing, I was really interested to read the Real Estate Institute of Australia's recent report dedicated to this topic, titled 'REIA Short Stay Accommodation - Sep 2023'.  It is an excellent publication that is packed full of data and shows the impact across the nation.  It also delves into the differing reform scenario's.

Across Australia, we have 109,726 entire dwellings (whole properties, not just a bedroom) listed as short stay accommodation, with 6402 of those located in South Australia.  Of the 6402 properties in SA, 46.4% of those are located in Adelaide and surrounds and 53.6% located in regional area's.  SA has seen an increase of short stay dwellings from March 2022 to March 2023 of 23.3%.

Governments and communities throughout the world are grappling with housing shortages and considering a number of reform options as discussed in the attached report.  Recently Victoria have moved to impose a levy on short stay accommodation of 7.5% with Premier Dan Andrews stating that funds raised will be directed towards social and affordable housing.

To read the full report click here.