Rate hike likely to impact short-term rental prices on Queensland's Gold Coast

Holiday s on the Gold Coast will likely become more expensive, with a "three-fold" rate hike for short-term accommodation.The Real Estate Institute of Queensland says it is unlikely to ease pressure on the city's housing market.

Mayor Tom Tate said it was unfair short-term accommodation owners getting rich from their properties weren't paying "a bit of interest". "There's parties going on and all different people every weekend … can ring us and sometimes if it's loud we'll take the police with us," Cr Tate said.Jemma Lang, who manages Airbnb properties across south east Queensland and NSW, said they included 59 properties on the Gold Coast.

But with an extremely tight rental market — sitting at 1 per cent in March according to PropTrack data – local government is feeling the pressure to making it easier for residents to find somewhere to live.Real Estate Institute of Queensland chief executive Antonia Mercorella said the Gold Coast's rate hike would have little impact on its housing crisis.

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Source: Holiday News (holidaynews.net)

Airbnb Short Term Accomodation Rental Council Local Government Holiday Tourism Tom Tate Proptrack Antonia Mercorella Real Estate Institute Of Queensland Gold Coast City Council Budget

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