Short-term letting sites such as Airbnb and Stayz are becoming even more popular with property investors, with holiday renting rates increasing substantially in the past year.
Analysis by Deckard Technologies says that landlords on the Gold Coast in particular are achieving big returns on the sites with short-term rentals generating $83.6 million in the first quarter of 2023, more than double the same time last year.
During the same period the number of properties listed on the short-term rental sites has increased by 34%.
Deckard Technologies vice president of data, Tony Moriarty, says there is serious money to be made from short-term or holiday rentals.
“Which is why the market is bounding back so strongly, and why these stories of long-term renters being kicked out keep surfacing,” he says.
Some local councils concerned about a boom in holiday letting and loss of permanent rental supply are now charging landlords higher council rates to use their properties for those purposes.
Brisbane City Council properties which operate as short-term rentals for more than 60 nights are year are charged 50% higher council rates.
Sydney University professor Nicole Gurran says all levels of government need to work together to prevent further losses to long-term rentals.
