Discussion paper

Description

There has been a rapid growth in short-term holiday letting (STHL) both nationally and in NSW over recent years particularly since the emergence of online booking services and the development of the sharing economy. The NSW Government’s response to the Parliamentary Inquiry into the regulation of short-term holiday letting supported putting in place a regulatory framework for STHL. This Options Paper seeks feedback on the approaches to enable economic benefits while managing the social and environmental impact of STHL. STHL is estimated to be worth $31.3 billion nationally, providing income for property owners and creating jobs through the establishment of new businesses to manage transactions between property owners and customers. In NSW, STHL constitutes approximately 50% of the national total, accounts for 25% of total visitor nights and occurs in both regional and metropolitan areas. It is expected that STHL in NSW will continue to increase its share of visitor night demand over the next ten years. STHL has the potential to generate impacts on the community if not adequately managed. These impacts could include noise, waste, traffic and parking, safety and security, and the potential impact on housing and broader industry in general. These impacts vary between regional and metropolitan areas, and between detached dwellings and apartments. Impacts can be managed in different ways and feedback is sought on the type and degree of impacts and the appropriate response by government to these impacts.

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