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Sydney miles ahead of other Aussie capitals for Airbnb income

March 7, 2018 OTA News No Comments Email Email

The report shows that Sydney attracts the highest number of international visitors (over 3.7m between 2016- 2017) and it generates the highest amount of income from short-term rentals. NSW was responsible for a short-term rental revenue of $435m in 2016, around two thirds more than Victoria, its closest rival.

Looking at tourism in Australia over 2016-2017, Australia’s Short Term Rental Report found that the demand for Short Term Rentals (STR) has more than doubled over the last two years in Sydney, Melbourne and Brisbane. With STR making up 11.8% of total tourist accommodation and over 8.5 million international visitors coming to Australia each year, the opportunity for growth in this area is massive.

A 2017 study by ACIL Allen found that Short Term Rentals across Australia provided 7.1 million nights of accommodation in 2016, generating over $1billion worth of revenue. The majority of accommodation provided was in NSW, which supplied over 2.5 million nights of accommodation in 2016 alone.

Using this data, combined with their own data, Australia’s Short Term Rental Report shows that STR average weekly revenue far out performs the Long Term Rental (LTR) average in all three states. The weekly LTR average for both houses and apartments in Sydney was $550 and for apartments, the LTR average was $733, while houses bring in an average of $1211 per week.

“The study showed conclusively that Australia’s demand for short-term accommodation options is only going to keep increasing,” says MadeComfy co-founder Sabrina Bethunin.  “It shows that people considering renting properties on the short-term basis can see a much larger return on investment than those locking in long-term tenants. Sydney’s short-term rental nightly rates are on par with the average nightly rates for hotels so the opportunity is there for smart owners to be getting a strong return on investment. ”

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