The Australian Housing and Urban Research Institute (AHURI) has released a new report arguing that short-term letting (STL) portals like Airbnb account for one in seven rental properties in Sydney’s and Melbourne’s inner-city and beachside suburbs:
Despite some limited growth in more suburban areas, the spatial impact of Airbnb in both Sydney and Melbourne remains concentrated in high-demand inner city areas. In these areas, two factors—decreasing bond lodgement rates, and increasing levels of property vacancy—point to the likelihood that STL is removing properties from the long-term rental market, thereby contributing to increasing unaffordability…
