PHOTO: Photo: 123RF
Predictions that a slump in tourism will push Airbnb properties into the rental market have not yet been realised.
Some Airbnb property managers have suggested owners would switch to long-term rentals in the absence international travellers.
Core Logic’s senior property economist, Kelvin Davidson, said the latest data had not appeared to back that up so far.
“Rental listings from week to week, that new flow of weekly listing is below where they were last year and the year before.”
He said landlords were concerned, prior to lockdown, that a rush of Airbnb’s into the rental market would depress rents and put pressure on landlords’ finances.
“We’re not really seeing the feared flood of properties out of Airbnb-style lets into the traditional long term rental sector.”
He suggested demand for Airbnbs had held steady when lockdown restrictions eased and had heard anecdotes there was strong domestic demand.
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