'Cap and trade' for Airbnb rentals proposed to win housing back for living and save tourist towns at the same timeThe financial returns from short-term rentals are up to 80 per cent more than those for similar long-term rentals, according to a new report.
Mary-Faeth Chenery in Daylesford, a wildly popular town about 1.5 hours' drive from Melbourne, says the inability to secure a place to stay is driving away long-time residents, families and essential workers."If one comes up, the real estate agent has filled it because he's got a list of 20 or 30 people who want it. You just don't expect to find one here."
"Across 12,000 units, we saw that for returns of short-term rentals, operators were earning 81 per cent more than they could in the traditional rental market," Grounded managing director Karl Fitzgerald said. "It's a world of precarity. There are people sleeping in caravans. They're making do in sheds. We're here at record low temperatures, and people are trying to live through this scenario while there's thousands of properties that are vacant during the week."Emeritus professor of the University of Sydney's urban planning program Peter Phibbs has studied how to make housing more affordable.
"The problem isn't so much the rental price, it's just the fact there are no properties available to rent," Professor Phibbs said. So-called "active listings" were used, rather than total listings. This knocked out about a quarter of the total and would exclude many traditional "bed and breakfast" operators.
Mr Fitzgerald estimates that in the Hepburn Shire where he lives, there are around 1,400 short-term rentals but only 1,100 of them are active. "I think there are plenty of people who understand that we're just not sure exactly how to move ahead," she says. With big wind and solar projects stalling, the market operator suggests rooftop solar will continue to do the heavy lifting
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