The coronavirus’ squeeze on short-term rentals, like Airbnbs, looks set to deliver tenants a major win.
The number of new listings has surged in recent weeks, according to Domain figures supplied to Business Insider Australia, as options for renters swell.
“Listings on the rental market jumped pretty much in all states and one of the reasons behind that we think is that Airbnb and other short-term listings are now coming back onto the long-term rental market,” Domain economist Trent Wiltshire told Business Insider Australia. “On top of that, we’re seeing people are also moving back home and share houses are breaking up because people are worried about their jobs or struggling to pay their rent.”
Cairns features here with 55% the highest increase in Queensland rental listings.
While this is below some very high percentage increases in inner Sydney and Melbourne that is only a proportion of their regional economy so isn’t really comparable. Domain is also a corporate child of Fairfax concentrated on Sydney and Melbourne with relatively lower representation in Queenland where New Ltd has dominated the space.