Damping Demand for Holiday Rentals Not the Silver Bullet for the Housing Crisis, Research Finds

An aerial view of Byron Bay, Australia ,on June 20, 2020. Brook Mitchell/Getty ImagesFewer long-term rental listings available and a 7 percent increase in weekly rent—that’s the outcome of an attempt to make more accommodation available for locals by limiting owners of short-term accommodation to renting to tourists and visitors for a maximum of 60 days a year, according to research carried out for Airbnb.The Byron Shire placed the cap on non-hosted short-term rental accommodation (STRA) in September 2024, in a bid to reduce prices for locals competing with holiday-makers.