44,000 Airbnb listings predicted following government support

44,000 Airbnb listings predicted following government support

by 3 comments

Airbnb listings will remain steady following a recent response by the NSW government to regulate the short-term letting industry, a property manager has predicted.

Property management start-up MadeComfy welcomed the announcement by the NSW government to look into regulating short-term holiday letting.

Data collected by MadeComfy reveals the announcement will not influence the number of Airbnb properties made available throughout the year. It said listings are on track to remain at their current pace, with 44,000 entire home Airbnb listings predicted by the end of 2017.

“The Airbnb market will not likely to see an influx of owners listing on the booking platform, but rather take confidence they can continue to do so with more clarity around their rights and responsibilities,” MadeComfy co-founder Sabrina Bethunin said.

“The assessment also takes into account that of Sydney’s almost two million properties, only 1.2 per cent have been listed on Airbnb at some stage, suggesting there is still room for growth...” Ms Bethunin said.

“This support by the NSW government will hopefully result in short-term rentals being a viable option for every home owner without fear of legal or financial penalties”.

Ms Bethunin added that with the median property price in Sydney soaring past $1 million, households are dedicating an average of 44 per cent of their income to service their mortgages. This means “Sydneysiders are considered under ‘mortgage stress’ as they are devoting more than 30 per cent of their income to mortgage repayments”. Ms Bethunin said this mortgage stress can be alleviated by using short-term letting platforms.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How Peter Starr went from the top 100 to the top 10 in real estate

McGrath agent Peter Starr joins host Tim Neary for this episode of Secrets of the Top 100 Agents to unveil how he jumped a mammoth 57 place...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Depends on the group
Do you have an industry update?