Latest news with #DominiqueRowe
Daily Telegraph
8 hours ago
- Business
- Daily Telegraph
Empty Airbnbs fuel Sydney's rental crisis
While Sydney-siders struggle to find affordable rentals, Airbnbs in Sydney sit empty on average 294 days a year. As Sydney's rental crisis continues, with sky-high prices and limited vacancies, thousands of properties that could house locals are sitting idle most of the year. Short term rentals, like Stayz and Airbnb are having a huge impact on Sydney's tenants while property investors charge premium nightly rates, earning far more than traditional rentals. An inquiry by Unions NSW into the rental market's severe supply shortage revealed there were were over 200,000 un-hosted Airbnb dwellings in Australia, while renters, including many essential workers, were struggling with rental stress or risked homelessness. MORE: Investor tricks lock out hopeful homebuyers Last year, 67,900 people sought help from homelessness services with thousands turned away due to a lack of funding, according to Homelessness NSW. Unions NSW and Homelessness NSW are calling for urgent change, asking the state government to match Victoria's recently implemented 7.5 per cent levy on short-term rental stays. MORE: Singles face impossible property reality New builds vanish amid loan slump Homelessness NSW CEO Dominique Rowe said the pressure on the rental market exacerbated by short-term rentals has driven an alarming rise in homelessness. 'We are seeing a severe shortage of affordable rental properties, pricing more and more people out of the private market and into homelessness,' she said. Unions NSW secretary Mark Morey said this was a 'commonsense approach.' '(It) would make a positive difference. The Government promised to tackle housing affordability. We now need to see action,' he said. The inquiry found essential workers faced additional challenges securing long-term housing because of the impacts of the short-term rental market. 'This is forcing the workers our communities rely on into excessive commutes, financial stress or even homelessness,' Mr Morey said. The number of short-term rentals outnumbered vacant long-term rentals in some areas across Sydney, with a large portion near hospitals. Search results on Airbnb showed over 1000 listings within proximity to Royal Prince Alfred Hospital located in Camperdown, while there were only 71 properties in the suburb listed for long-term rental on On top of a 7.5 per cent levy, Unions NSW have suggested a 60-day statewide cap on un-hosted short-term rental stays. Revenue from the proposed levy could go towards funding essential worker accomodation or homelessness services. 'A levy on short-term accommodation would encourage long-term rental availability and would raise much-needed funds that should be directed to overwhelmed and under-resourced homelessness services,' Ms Rowe said. MORE: Security guard sells $4m lottery win James Packer's offsider 'buys $80m penthouse'
News.com.au
9 hours ago
- Business
- News.com.au
Empty Airbnbs fuel Sydney's rental crisis
While Sydney-siders struggle to find affordable rentals, Airbnbs in Sydney sit empty on average 294 days a year. As Sydney's rental crisis continues, with sky-high prices and limited vacancies, thousands of properties that could house locals are sitting idle most of the year. Short term rentals, like Stayz and Airbnb are having a huge impact on Sydney's tenants while property investors charge premium nightly rates, earning far more than traditional rentals. An inquiry by Unions NSW into the rental market's severe supply shortage revealed there were were over 200,000 un-hosted Airbnb dwellings in Australia, while renters, including many essential workers, were struggling with rental stress or risked homelessness. Last year, 67,900 people sought help from homelessness services with thousands turned away due to a lack of funding, according to Homelessness NSW. Unions NSW and Homelessness NSW are calling for urgent change, asking the state government to match Victoria's recently implemented 7.5 per cent levy on short-term rental stays. New builds vanish amid loan slump Homelessness NSW CEO Dominique Rowe said the pressure on the rental market exacerbated by short-term rentals has driven an alarming rise in homelessness. 'We are seeing a severe shortage of affordable rental properties, pricing more and more people out of the private market and into homelessness,' she said. Unions NSW secretary Mark Morey said this was a 'commonsense approach.' '(It) would make a positive difference. The Government promised to tackle housing affordability. We now need to see action,' he said. The inquiry found essential workers faced additional challenges securing long-term housing because of the impacts of the short-term rental market. 'This is forcing the workers our communities rely on into excessive commutes, financial stress or even homelessness,' Mr Morey said. The number of short-term rentals outnumbered vacant long-term rentals in some areas across Sydney, with a large portion near hospitals. Search results on Airbnb showed over 1000 listings within proximity to Royal Prince Alfred Hospital located in Camperdown, while there were only 71 properties in the suburb listed for long-term rental on On top of a 7.5 per cent levy, Unions NSW have suggested a 60-day statewide cap on un-hosted short-term rental stays. Revenue from the proposed levy could go towards funding essential worker accomodation or homelessness services. 'A levy on short-term accommodation would encourage long-term rental availability and would raise much-needed funds that should be directed to overwhelmed and under-resourced homelessness services,' Ms Rowe said.
