Have you been thinking about advertising your home on Airbnb for your upcoming Christmas and New Year’s holiday? Approximately 70,000 other homeowners have been thinking the same thing!
This means the best time to advertise your home and secure occupancy and great rates is right now.
Based on our current projections, we estimate by December 2017 Airbnb will have 70,000 properties listed in Sydney vs. 23,000 listed in December 2016. This means there will be a lot more competition this year.
As the short-term rental market is evolving fast, we ensure we keep on top of the market trends to enable us to make the right decisions regarding pricing to achieve the best results possible for owners.
With the increase in popularity of Airbnb among Sydney’s families in some suburbs at the end of 2016, we noticed an oversupply of properties that heavily impacted upon occupancy rates and price per night at the end of 2016.Airbnb guests tend to book closer to their arrival date, with 50% of bookings occuring during the same month the property is available for rent, however, this behaviour changes when it comes to Christmas and NYE. Guests want to secure their accommodation generally five to six months in advance, as it is well know that prices tend to be quite high given demand for this time of the year.For you, as a home owner competing on this market, it means that the later in the year you list your home for rent, the more competitive it will get as the guest will have plenty of options to choose from and to shop around.
Let’s have a look to some of the most popular Sydney suburbs and the supply surge that happened in December 2016.
Available properties grew by 93% in Dec 2016 from an average of 124 available homes to 239 at a 58% occupancy rate.
Bondi Beach/North Bondi
Available properties grew by 158% in Dec 2016 from an average of 316 available homes to 817 at a 56% occupancy rate.
Manly - Fairlight
Available properties grew 153% in Dec 2016 from an average of 176 available homes to 445 at a 60% occupancy rate.
Available properties grew 105% in Dec 2016 from an average of 80 available homes to 164 at a 58% occupancy rate.
The key tips to achieve success despite oversupply:
- Advertise your property across multiple booking platforms (i.e. Airbnb, Tripadvisor, Booking.com, etc).
- Advertise your home with enough time in advance to avoid competition.
- Offer fast communication with potential guests to secure bookings.
- Daily pricing management.
MadeComfy provides an end-to-end property management service, which means property owners don’t need to do a thing when they hand over their keys. MadeComfy makes the process of earning greater returns from short-term renting effortless, achieving up to 40% more than long-term rentals and self-managed Airbnb listings. Get in touch with us today to see how we can help!