A Real Estate Agents Opinion
Popular peer-to-peer marketplace, Airbnb, is set to total more than 100 million stays this year. The growth of Airbnb’s usage amongst peers and it’s expansion in to community experiences is every growing and popular within Sydney’s property market. As an industry leader, SydneyLinks’ property agent Trisiana Muljono has seen the introduction of Airbnb and how it is currently developing within the local inner-city property market.
Estimates indicate home-sharing websites such as Airbnb have reduced Sydney’s property market by about 6,000 homes in recent markets. Urban Housing Lab suggests that such websites are greatly damage the property market by negatively affecting affordability across Sydney from the city to coastal suburbs and even as far as the NSW North Coast.
Picture above left: The ever popular views from many of Potts Points rooftops and right: "Number 2 in the top 10 List of Airbnb properties to rent in Sydney" according to trip101.com.
Some have argued that rather than homes being taken off the market, these services have allowed for home owners to list their homes as they please, with the average owner only listing their home for 30 days per year.
“I list my home only when I’m away, which is only a couple of weeks per year”, says Darlinghurst home owner Dale Barrett.
SydneyLinks’ Trisiana Muljono speaks to many home owners who have had different experiences with the hom-sharing websites, “For owners who have leased full time or for most of the year, they benefits have decreased”.
“The expectations of people using the services have increased and their profit margins have decreased,” says Trisiana.
Trisiana says several home owners she has spoken with have expressed concern over the losses they have experienced with profit, “The margins experienced with home-sharing services haven’t aligned with the increasing costs of using the service and the the inflation of the property market in general”.
The SydneyLinks team
194 -196 Victoria Street Potts Point NSW 2011
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