00:00You can stay in Daylesford, but you can't live here.
00:08Get long-term rental, just can't.
00:11Don't even think about it, really.
00:13Like many popular tourist spots around the nation, the central Victorian town has struggled
00:19as long-term rentals have been converted to short-stay accommodation through platforms
00:24like Airbnb.
00:26A new report estimates properties on the short-term rental market in popular areas are earning
00:31tens of thousands of dollars more per year than long-term rentals in the same areas.
00:38The median figure is more than 80% higher returns.
00:42This is a seismic shift, really, in terms of investment returns.
00:47Barcelona is banning the short-term trade, while local councils and state governments
00:52here in Australia are trying levies, caps on the number of nights a property can be
00:57let and higher taxes and rates.
01:00It's just not working, and when you look at the difference in revenue that short-term
01:04operators can make, you can see why it hasn't.
01:07The report suggests short-term rentals should require a permit, with the number of permits
01:12slowly reduced and then traded.
01:15That could keep enough visitor accommodation, but return marginal properties to the long-term
01:20rental market, as owners seek better profits.
01:24The last thing you're trying to do is crunch the market, they are tourist towns, but you
01:28might just slowly reduce the number of short-term rentals over time.
01:34Airbnb disputes the figures in the report and says it advocates for stronger regulation
01:39of the sector.
01:41The bed-based gold rush has brought huge profits and division to communities like this, which
01:47rely on visitors but also want homes for locals, families and essential workers.
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