Mixed fortunes in holiday home market as some Sydneysiders rent 'second homes'

Wealthy Sydneysiders are taking out long-term leases on properties normally rented out on Airbnb and using them as second homes to escape the city during the pandemic.

But Ms Sim said the opposite was true in the inner-suburbs of capital cities, where the market had been flooded by Airbnb rentals entering the long-term rental market. Ray White's rent rolls in Brisbane, Sydney and Melbourne had grown strongly. However, Mr Conolly said some of the Airbnb properties around tourism-oriented parts of the city such as Millers Point and the Rocks were still being used as holiday rentals for visitors from other parts of NSW and Australia.

In keeping with this lifestyle trend, Mr Conolly said McGrath Central Coast reported tenancy vacancies were at 0.36 per cent rather than the usual 2-3 per cent.In Palm Beach, LJ Hooker senior property manager Kirsty Frazer said there was a shortage of rental properties, partly because owners were using the properties for themselves and also because of increased demand.

niltiac It differs from country to another. There are four different coronaviruses that can cause it Message from the one who predicted coronavirus. Dr. Anthony R. Fehr, Assistant Professor of Infectious Disease at the University of Kansas.

bencubby niltiac Taking the virus with them.... because there are NO limits on travel in NSW for anyone but people in the Vic border region if their work/study/medical care takes them into the Vic side of the bubble. FWIW there are ZERO active cases in this border region, either side of border.

niltiac Hope they can afford a third 🥺 must suck only having two homes during a pandemic 😖

invest_wa niltiac If they were wealthy they would buy them.

niltiac We’re all in this together

niltiac Must be nice...

niltiac Wealthiest rorting, what's new

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