Join Australia's most dynamic and respected property investment community

The Airbnb explosion in Sydney

Discussion in 'General Property Chat' started by Depreciator, 6th Jan, 2016.

Tags:
  1. Depreciator

    Depreciator Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    731
    Location:
    Sydney
    Apparently one in five properties in Tamarama (the beach next to Bondi) are listed on Airbnb. Some are obviously shared spaces.
    Airbnb listings in Sydney have gone from 8,000 to 15,000 in the last year.
    That's why the state govt called for submissions in November so they can get their heads around the whole short term let thing and work out how to accommodate it.

    How Airbnb is taking over Sydney, one beach at a time

    Scott
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,589
    Location:
    Sydney or NSW or Australia
    How are hotel yields faring?
     
  3. Depreciator

    Depreciator Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    731
    Location:
    Sydney
    Hotels wouldn't be happy - their lobbyists would have made a pretty sizeable submission last year when the govt called for them.
    In many of the places where Airbnb does well, there are no hotels. And many Airbnb listings are shared.
    But what is hidden in the stats is that a lot of people listed their property on Airbnb when they are heading off on holidays so they can cover the rent/mortgage. Many of the people who listed their properties late last year would have been hoping for a tenant for several weeks over Christmas and that's all i.e. they won't take in anyone till they go away again. There were also lots of people with properties that had harbour views who listed for New Years Eve. So I take the 15,000 figure with a grain of salt.
    Scott
     
  4. Wukong

    Wukong Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    217
    Location:
    NSW
    Hotels charge an exorbitant amount for NYE accommodations. With Airbnb, seeing fireworks on NYE is now viable.
     
  5. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    5,842
    Location:
    Sydney
    Wait till the demand catches up to/exceeds supply...
     
  6. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,390
    Location:
    Somewhere in the land of Oz
    That's what I first thought.
    Friends from NSW south coast have started using it, they had interest over the Christmas holiday period and ended up taking a month off and are still in Bali now! They originally wanted 1 week but peak season helped cover a holiday for them
     
    Observer likes this.
  7. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,600
    Location:
    Adelaide, SA
    I wonder how many of them declare the income?
     
    Whitecat likes this.
  8. Tranquilo

    Tranquilo Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    342
    Location:
    Mascot
    Exploding everywhere. We are about to use here in Medellin Colombia. Empty apartment for 5 of us for 3 nights $235US
     
    geoffw likes this.
  9. Depreciator

    Depreciator Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    731
    Location:
    Sydney
    Most people who do it sporadically would not declare the income. I do because the Airbnb income for me is significant.
    A lot of people have a go at Airbnb because they assume it's lucrative and a better option than a permanent flatmate. Many of them go back to having a flatmate - especially in the winter when traveller bookings drop off. Some people near the beaches mix it up and have a permanent flatmate for 6-8 months and then do Airbnb in peak season.
     
    Observer, Whitecat and wylie like this.
  10. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,589
    Location:
    Sydney or NSW or Australia
    Seems to be the norm even in places like Cuba - no phones or hot water but airbnb for accommodation.
     
    Tranquilo likes this.
  11. Tranquilo

    Tranquilo Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    342
    Location:
    Mascot
    Yep Airbnb and Uber:)
     
    Observer likes this.
  12. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,161
    Location:
    Canberra and Sydney
    I haven't stayed in an Air BnB place yet but I've booked my next four trips via Air BnB. First is Sydney next week.

    For us - it makes sense. You can get a two bedroom place (which we need for 5 of us) in a nice spot - usually for the same price or better as a pokey hotel room.

    Cheers

    Jamie
     
  13. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,394
    Location:
    Mt Druuiitt
    I've been looking at Airbnb for my next trip and, as mentioned the other week on another thread, I am impressed by it.

    I am particularly impressed by the photos of the nice women gracing the advertised properties. Who cares if the place is a dump! lol If I can score a woman on that site it's a double bonus.
     
  14. CU@THETOP

    CU@THETOP Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    227
    Location:
    Brisbane
    Are we talking about the same websites Datto? And if it is $75 a night I suggest you go upmarket.
     
    datto likes this.
  15. S.T

    S.T Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    428
    Location:
    I'm not selling anything
    Saw the title and thought some airbnb guest had blown up an apartment.
     
  16. EN710

    EN710 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,162
    Location:
    NSW
    I guess this is the main benefit compared to hotel, especially if you have more than 2 people.
    I personally like hotels ... I like seeing how different hotel room is set up, the layout, how the building is presented etc, but that makes sense as we're staying for 2 o_O
     
  17. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    1,331
    Location:
    melbourne
    a lot of ppl may not realize the returns on airbnb are actually quite significant. 3 years ago i rented my apartment in melbourne for 1k per week full furnished to a corporate rental. But with airbnb i could get $1500 per week - that's like a full time corporate salary job per year for some ppl. i know personally having travelled to sydney in the past, it is quite expensive to get a hotel in areas you prefer to be into.
     
  18. DiligentPM

    DiligentPM Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    443
    Location:
    Brisbane
    There might be an extra surcharge lol
     
    datto likes this.
  19. tilt10

    tilt10 Well-Known Member

    Joined:
    1st Jan, 2016
    Posts:
    58
    Location:
    QLD
    Clearly you are subject to tax when renting through AIRBB.
    How many people on this site don't pay tax on their Airbb income. I bet there are a lot.
    How many people on this site have had a knock on the door from the ATO for not declaring income?
    Clearly you lose a portion of your tax free capital gains on your principal place of residence.
    Most people don't even consider this.
    Used it all over Europe last year . Loved it.
     
  20. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,394
    Location:
    Mt Druuiitt
    You don't pay tax if under the tax free threshhold.

    Get under, get down!