Posted: 29 November, 2016
by Sohan Judge
Bad News If You’re Looking For A Place To Rent In Sydney
Landlords have changed the way they rent out their properties and it’s not good news for Sydneysiders.
New data from the University Of Sydney shows that landlords are renting to Airbnb to chase higher returns from travellers.
Currently, the number of Airbnb listings in Sydney’s central and eastern suburbs exceeds the number of vacant rental properties, making it harder for those who want to rent out a home.
According to the report, landlords in the Waverley council area (including beach suburbs like Bondi, Bronte and Tamarama) earned an average of $2947 per month for letting out homes on Airbnb, compared to the median rent of $2920 per month.
Airbnb began as a platform allowing people to rent out their spare bedroom or granny flat, however more than 60% of properties currently listed on the site are entire homes.
Now, the City of Sydney currently has 1268 Airbnb listings while there are only 876 vacant rental homes.
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