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Seekers of short-term accommodation options are trending towards longer stays – and the stability is being welcomed by property owners too.
The trend was uncovered in Airbnb’s official second quarter 2023 results, where it was revealed that 18 per cent of all bookings globally are now longer stays (a month or more).
According to Airbnb co-founder and CEO Brian Chesky, longer stays are the result of more flexible lifestyles, thanks to remote working opportunities.
He explained: “Families with kids will choose this way of working and travelling in the summer, whilst the rest of the year they will extend weekend stays.”
And the worldwide trend is playing out on Australian shores too, according to Alice’s Home managing director Seiko Ma.
Ms Ma said suburban areas are the areas most commonly relating with the global trend, especially where local councils have implemented regulations restricting short-term rentals to periods of less than three months.
“As a result, the mid- to long-term option on Airbnb serves as a viable alternative for both property owners and guests.”
Ms Ma noted that Alice’s Home had also observed an increased demand for stays lasting “a couple of months”, driven by individuals who are searching for suitable long-term accommodation, with the trend “particularly prominent among students, tradespeople and migrants who require a stable place to stay while they settle into their new routines and surroundings”.
Some property owners are even offering up their homes to take three-month holidays, during which they rent out their space for short-term spaces.
“Traditionally, they wouldn’t have been able to generate income from their time away. However, by entrusting us to manage their property for those three months, they not only cover their travel expenses but also earn extra money in the process.”
The latest insights follow on from the finding that short-term rental accommodation platforms, such as Airbnb and Stayz, are not to blame for the recent increase in rents in Queensland.
From Ms Ma’s position, a healthy real estate market should allow both short-term and long-term rentals to co-exist.
She expressed: “It’s nice to see new trends and solutions for personal conditions in the market.”
“Airbnb isn’t just for short stays; it also gives people more choices for staying longer.”
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