Airbnb not significantly hurting rental affordability in Sydney and Melbourne, report reveals

Airbnb isn’t making rental affordability “significantly” worse, but it is reducing the number of properties that are available for long-term renters in Sydney and Melbourne.

According to a new report, released today, that applies especially to the “high-demand” suburbs with “significant tourism appeal”.

The report was from the Australian Housing and Urban Research Institute (AHURI), which describes itself is a not-for-profit organisation funded by several universities and governments (Federal, state and territory).

It investigated the extent to which short-term leasing adds to housing affordability pressures, found that one in seven rental properties in Sydney’s and Melbourne’s inner-city and beachside suburbs are “commercial” Airbnb listings.

The research team — academics from the University of New South Wales (UNSW) and Swinburne University of Technology — defined “commercial” as an entire house or apartment that is listed for rental for more than three months (90 days) each year.

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Source: ABC