‘Airbnb hotspots’ reduce long-term rentals in Sydney and Melbourne, new research finds

Up to one in seven rental properties in Melbourne and Sydney’s most popular suburbs are listed on Airbnb, a new report has found, exacerbating housing affordability in both cities.

The short-term letting platform, under the microscope in the latest Australian Housing and Urban Research Institute report released on Thursday, should be more tightly regulated, according to the authors.

In Sydney, commercial Airbnb listings — where an entire dwelling is available for more than 90 days of the year — accounted for between 11.2 per cent and 14.8 per cent of all rental stock.

The concentration was found in the popular eastern suburbs of Bondi, Bronte and Coogee, as well as Darlinghurst and Manly.

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Source: Domain