According to 'The Times', the Melbourne short-stay market is grasping more and more attention from Melbourne property managers, real-estate agencies and property investors in recent years, which also placed Melbourne into the top 20 cities in the global ranking for short-stay service rate. Statistics have shown that since Melbourne launched Airbnb services five years ago, there are already more than 12,000 Melbourne apartment and houses available for rent on site.
Most of these properties are CBD/docklands apartment for rent, with the majority being full-apartment/house rental. The average rental price is $139 per night.
However, the growing prosperity of the Melbourne short-stay market does not necessarily mean that it is 100% successful or risk-free. Like Paris, Berlin and Vancouver, Victoria is also beginning to launch its regulations on Melbourne short-stay services.
Currently, the State Government is looking for ways to track down the Melbourne short-stay service frequency reports, as well as resolving Melbourne apartment concerns regarding building congestion, noise and issues related to the use of elevators in public areas. Moreover, the Melbourne short-stay companies are not required to submit documents to the company's regulatory agency ASIC. Earnings from Melbourne accommodation orders also flow to Airbnb Ireland, instead of Airbnb Australia.
The most recent parliamentary committee in Victoria proposed to apply stricter regulations on Melbourne short-stay accommodation, because they found that data collected on the popularity and location of Melbourne apartment/houses involved in short-stay services are still insufficient.
It has been discovered that a typical Melbourne short-stay homeowner can earn $5,700 a year, whilst a short-term Melbourne apartment/house for rent can be leased for up to 33 nights a year on an average.
Furthermore, statistics have also provided that the average monthly income of Melbourne rental homeowners reached $922, and a person who leases the entire set of Melbourne apartment/house is able to earn an average income of $1344 every month. However, those who lease frequently (i.e. providing Melbourne short-stay service) can earn $2511 per month. This data concerns property investors because this means a lot of properties have launched residential and rental markets, making accommodation choices more valuable and limited.
Please do not hesitate to contact our professional Melbourne property managers on 1300 354 839 today, for more information and professional advice for your property.