00:02The City of Sydney says it's time to say goodbye to inner-city short-term rentals.
00:07In the middle of a housing crisis, when rents have never been higher, every house should be a home, not
00:12a mini hotel, generating huge profits for property investors.
00:15A recent council report shows holiday lets make up less than 4% of the private rental market.
00:21But supporters of a ban say it would still make a difference.
00:24On conservative estimates, there's at least 5,000 houses that are being ripped away and used as Airbnbs.
00:30Other world cities are moving to curb short-term rentals.
00:34Barcelona will phase them out entirely by 2028, while New York already has a 30 day per year limit.
00:41But experts argue enforcing such a ban wouldn't be easy.
00:44At the moment our registration systems rely on goodwill of operators voluntarily putting their information forward,
00:52and that becomes difficult for local government, for instance, to check.
00:57It would also require state government support.
00:59I want to understand the concurrent impacts on the tourism sector.
01:04I mean we've taken steps in some areas in coastal towns where there's a big homelessness issue
01:12or there's just a complete lack of housing to intervene.
01:14But there have been extraordinary interventions.
01:17The effectiveness of a 60 day cap in Byron Bay is still up for debate almost two years on.
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