Probe into Qld short-term letting market impact on housing crisis

The Queensland government will launch a probe into short-term letting and its impact on the housing crisis ahead of this week’s housing summit.

The Palaszczuk government will launch an investigation into the effects the short-term letting market is having on the state’s housing crisis ahead of this week’s landmark housing summit.

Deputy Premier and Planning Minister Steven Miles said the government did not have a clear understanding on how sites, such as Airbnb and Stayz, were affecting housing supply across Queensland.

But he declared the government would look at all avenues to boost supply on the long-term private rental market, as he hinted at taking up reforms in the future.

“The current rental market is very tight in many areas across Queensland,” Mr Miles said. “People are seeing their rent increased or are struggling to find an available rental near their work or kids’ school.

Deputy Premier and Planning Minister Steven Miles. Picture: NCA NewsWire/Dan Peled

“This work will provide some detailed analysis into the positive and negative impacts of short-term rental accommodation on housing affordability and availability, the tourism industry, property owners and Queensland’s cities and regional communities.

“It will also identify if the impact is the same across Queensland or if the experience varies across different regions.”

The investigation, which will be carried out by industry experts, will look at how other jurisdictions deal with short-term letting and consider what reforms could be implemented in Queensland.

Mr Miles said there was a relatively small number of short-term rental properties in Queensland in comparison to the state’s entire housing stock.

But he also noted concerns had been raised about how short-term letting was worsening Queensland’s tight rental market.

Deputy Premier Steven Miles and Premier Annastacia Palaszczuk, who chaired a September housing roundtable to address affordable housing ahead of this week’s housing summit, which she convened because of The Courier-Mail’s Hitting Home series. Picture: NCA NewsWire/John Gass

“We are listening to the community, industry, councils and other stakeholders, who have raised these concerns on both sides,” Mr Miles said.

“There are many factors here, including Queensland being the nation’s tourism capital and having suitable accommodation for international, interstate and intrastate visitors is vital for businesses and communities.”

Brisbane City Council announced this year that it would slug ratepayers with a property on the short-term letting market an extra 50 per cent on their rates bills.

Airbnb has already slammed the council’s rates hike push as ill-conceived, claiming it is not an “evidence-based approach”.

The Real Estate Institute of Queensland has called on the government to consider incentives to encourage investors to bring their properties off the short-term letting market and on to the long-term rental market.

Premier Annastacia Palaszczuk will this week chair the government’s housing summit, which she convened because of The Courier-Mail’s Hitting Home series.