Australia's short-term rental market is beginning to show signs of life following the nation's successful response to the Covid-19 crisis, rental data researcher AirDNA says.
The findings from AirDNA reveals Australia, as a whole, has experienced an upward trend in short-term rental over recent weeks, seeing a 189 per cent increase in bookings.
During lockdown measures, short-term accomodation providers, hoteliers and tourism operators up and down Australia’s east coast have been suffering while regional tourist economies have been non-existent.
Last year Australians took more than 46 million domestic holiday trips, spending $35 billion in the process.
Short term bookings April - May
| City | Bookings: Week of 4/6 | Bookings: Week of 5/18 | % Change |
|---|---|---|---|
| Blue Mountains, AU | 216 | 2,226 | 930.6% |
| Great Lakes, AU | 118 | 919 | 678.8% |
| Shoalhaven City Council, AU | 502 | 3,231 | 543.6% |
| The of theity of Kiama, AU | 107 | 611 | 471.0% |
| Port Stephens Council, AU | 134 | 749 | 459.0% |
| Wyong, AU | 277 | 1,229 | 343.7% |
| Byron, AU | 337 | 1,246 | 269.7% |
| Queenstown, NZ | 111 | 1,177 | 960.4% |
| Wellington, NZ | 159 | 1,253 | 688.1% |
| Christchurch City, NZ | 186 | 738 | 296.8% |
^ Source: AirDNA
“We hope this indicates that the industry has turned a corner and that the travel sector as a whole can look forward to a brighter future,” AirDNA chief executive Scott Shatford said.
“The vacation rental industry has been quick to mobilise against the virus, offering mid-term stays, self check-in and stringent cleaning regimens.
“Guests have clearly returned in kind, confident in the space, safety and comfort that vacation rentals offer over traditional forms of accommodation.”
Another key point made in the report was New Zealand leading the charge with over 465 per cent more bookings this week than 6 weeks prior.
Both Australia and New Zealand created novel business relief programs to retain worker relationships with employers using quickly-enacted government subsidies to keep workers off the scrapheap.
A recent analysis of leading advanced economies by the Brookings Institution in Washington said Australia, New Zealand and Germany had been "the most successful" in handling the spread of coronavirus—which would allow their economies to recover more rapidly.
Since early-April, Germany has seen 367 per cent more bookings, while the bullish United States follows closely behind with over 202 per cent.
Attention will now turn to Australia's stance on the international “visitor economy”.
The visitor economy includes the almost 10 million people from overseas who travel to Australia each year for tourism, education and business-related purposes, or visiting friends and family.
Across 2019, international visitors spent close to $50 billion in Australia, generating upwards of 660,000 tourism-related jobs as well as 270,000 jobs linked to international education.
