Short term and holiday rentals are on the rise, according to Australia’s largest online holiday rental site.
In response to news on Wednesday showing a jump in short-term rentals for one company, Stayz’ Anton Stanish, general manager for travel marketplaces (Fairfax Media), told Smart Property Investment that they are having a similar response in this fast growing sector.
“Based on current enquiry and booking numbers, we are expecting a 20 per cent jump in bookings for January, compared with January 2012,” Mr Stanish explained.
“Approximately half of summer bookings are made at least three months before (the ratio of forward bookings is only around 30 per cent for non-peak season). However, a surprisingly large number of guests still leave planning to the last minute – 20 per cent of enquiries for January holidays are made in January itself.”
There are a number of reasons investors are considering this path.
In February 2012, Stayz Group Accommodation Index Survey recorded that 52 per cent found it to be a flexible method allowing for private use and extra income. A further 46 per cent cited higher yields when letting for short stays.
The survey asked 837 holiday property owners and managers the reasons for this investment choice.
Based on last summer's booking numbers for Stayz by destination region, the current top spots for rentals are: South Coast (NSW), Great Ocean Road (VIC), Bays and Peninsulas (VIC), Gold Coast (QLD) and Perth (WA).