Ensure you never miss an issue of the
real estate business bulletin
Holiday rentals at risk in coastal NSW

Holiday rentals at risk in coastal NSW

by Reporter 0 comments

An NSW coastal city council has been called upon to change laws that could suffocate the local holiday-letting industry.

The Real Estate Institute of NSW (REINSW) is in talks with Gosford City Council regarding making an immediate amendment to the current Local Environmental Plan (LEP) to allow short-term letting without consent on properties in 2A and 2B residential zones.

This follows a judgement by the NSW Land and Environment Court earlier this month disallowing future rentals of a six-bedroom house in Terrigal.

REINSW President Christian Payne said the entire section of the holiday letting property market could be at risk unless changes were made.

“The current LEP does not reference the use of properties as holiday rentals, despite it happening for the last 140 years,” he said.

“Holiday letting is the backbone of the local economy in coastal areas, and in particular the NSW Central Coast. We urge the Gosford City Council to take a positive stance to protect the livelihood of the area.

“It is important not to discriminate against people who can’t afford to purchase their own holiday home,” Mr Payne said.

“If we don’t make a stand on this issue the only people who will be able to enjoy a holiday are those who can afford to purchase their own holiday home. We must also protect those people who have made the investment in properties used for short-term rental accommodation.”

REINSW is also asking the NSW government to make a state-wide ruling on the issue to protect this sector of the property industry, which could have an enormous and positive flow-on effect for local economies.

“Currently it is a local council issue, with the Shoalhaven, Kiama and Eurobodalla Councils already changing their LEPs to allow short-term rentals without having to seek special permission,” Mr Payne said.

“We urge the state government to step in and support short-term rentals across the state.”

Holiday rentals at risk in coastal NSW
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?