Mornington Peninsula has much higher levels of unoccupied dwellings at 22% because there are so many holiday homes and short term rentals. This is compared to unoccupied dwellings accounting for 16.1% in regional Victoria and 9.1% in Greater Melbourne. The Peninsula property market has become popular as many houses can be let out over the summer with sizeable rental returns thanks to the likes of short-term accommodation websites such as Airbnb. In the Mornington Peninsula council area, 3.7 per cent of housing stock is listed on Airbnb Mornington Peninsula council implements Airbnb, Stayz registration fees and code of conduct for guests The family from Melbourne, Australia, made a sea change from the city to the picturesque Mornington Peninsula. It was when they rented out their house that they realised the high demand for quality suburban properties, prompting the inception of Luxico. The Mornington Peninsula is also fortunately exempt from the vacant residential land tax making it an even more appealing area to invest. Sea-changers push Mornington Peninsula unit rents up 11 per cent in 2018 Victoria’s top 10 hottest rental suburbs included Capel Sound, Safety Beach and Mt Eliza from the the peninsula in 2016.