Homeowners will be forced to acquire a permit to operate an Airbnb in Brisbane amid the impact of short-term accommodation on housing supply.
Brisbane Mayor Adrian Schrinner will introduce a system to regulate the rise of Airbnb in the city as residents struggle to find long-term homes.
Following a year-long review of the sector, Schrinner said less than one per cent of homes in Brisbane were being used as short-term accommodation.
“This has not created the housing crisis, but it is obviously something that needs to be managed and still aggravates it,” he told ABC Radio on Wednesday.
Owners will need a permit to operate an Airbnb in Brisbane in a bid to regulate the short-term accommodation sector (file image pictured)
According to data analytics site AirDNA, there are more than 10,000 properties in Brisbane being used for short-term accommodation.
Currently, apartment building corporations have little power to prevent a property from being used as an Airbnb.
The council is set to introduce a permit system whereby a property could only operate as an Airbnb if it had the appropriate planning approvals, the support of a body corporate and a 24/7 property manager. week.
Properties that do not qualify for a permit would be forced back into the long-term rental market to help meet demand in Brisbane.
“We have identified over 400 properties that need to return to the long-term rental market,” Mr Scrinner said.
Properties in Brisbane (pictured) will only be able to operate as Airbnb if they meet certain criteria, including having current planning approvals and a 24/7 property manager.
He said he understood the demand for Airbnb-style accommodation, especially ahead of the 2032 Olympics; however, there also needs to be properties to support the long-term rental market.
Brisbane is facing rising house prices as the latest data from CoreLogic revealed it is now the second most expensive city in Australia to buy a home.
Rental demand has also skyrocketed, with Brisbane facing a 0.9 per cent vacancy rate and rental prices rising 9.3 per cent over the past year.
Short-term rentals will continue to be charged higher council rates to combat overpricing and encourage properties to return to the market as a long-term solution.
More than 10,000 properties in Brisbane are used for short-term accommodation, according to figures from data analytics site AirDNA (stock image pictured).
“They are not using the house for standard residential use, but are effectively using it for commercial purposes,” Mr Schrinner said.
As the housing supply crisis wreaks havoc across Australia, other states such as New South Wales are considering introducing a short-term accommodation tax to encourage landlords to put their properties back on the market in the long term.
Victoria already has a 7.5 per cent tax on Airbnbs.
