Most lucrative Victorian Airbnb hotspots revealed

Geelong and the Surf Coast region are among the best-performing locations for Airbnb owners in Victoria, a new analysis of short-term rentals has revealed.

A new study has revealed the most lucrative Airbnb spots in Victoria, with a number of regions raking in excess of $20,000 of average yearly income through Airbnb.

Geelong and the Surf Coast region are among the best-performing locations for Airbnb owners in Victoria, a new analysis of short-term rentals has revealed.

The Greater Geelong, Surf Coast and Colac Otway shires all made it into Victoria’s top 15 highest-earning locations, including some areas where property owners are picking up in excess of $20,000 in yearly income

The data analysis, undertaken by MortgageBroker.com.au, reveals that the average yearly income for Airbnb owners in Geelong is $12,942, with the average price for a night stay costing punters $256.

Owners fared a little better in some Surf Coast hot spots, where holiday-makers are prepared to pay $376 a night, picking up average yearly income of $13,095.

Airbnb Australia and New Zealand head of public policy Michael Crosby said coastal towns such as Torquay had a long history of holiday home ownership, with guest stays injecting much-needed cash into the local economies.

“Many property owners place their holiday home on Airbnb during the times that they and their families are not using it, helping provide extra accommodation options for visitors,” Mr Crosby said.

“Short-stay accommodation has always proven a popular choice among Victorian holiday makers, as it provides choice and flexibility of options for families and group travellers.”

Airbnb owners in the Colac Otway received an average yearly income of $23,345, with the average price $307 a night.

The Yarra Ranges area ($25,839 a year) took top spot in Victoria with a price per night of $313.

However the sell-off of holiday rental properties is tipped to continue along the coast as property investors weigh up the cost of Victoria’s expected new Airbnb tax.

Short-stay accommodation owners would be hit with a 7.5 per cent levy under legislation recently introduced into state parliament.

The Short Stay Levy Bill will also give councils the power to ban holiday letting altogether or dictate the number of days a property can be listed.

Mr Crosby said Airbnb supported sustainable, evidence-based regulation and the introduction of one simple statewide framework for the short-stay accommodation sector.

“A statewide approach would be preferable to 79 local councils coming up with their own approach to the same policy issues,” he said.

But he flagged that introduction of the new levy could come at a cost for holidaymakers and local tourism.

“A 7.5 per cent levy, on top of increased council rates and restrictions on the number of nights property owners can list their homes, will harm the ability for Victoria to attract tourists to areas lacking traditional accommodation while penalising families looking for affordable travel options as cost-of-living pressures continue to bite,” he said.

Originally published as Most lucrative Victorian Airbnb hotspots revealed