The global phenomenon of short-term letting platforms like Airbnb is taking its toll on pockets of Sydney and Melbourne’s rental markets and is contributing to the growing inequality between those who have access to housing, and those who don’t, according to a new report.
Since its inception a decade ago, Airbnb has transformed the tourist accommodation industry around the world and last year was valued at more than $US30 billion. A thriving ecosystem of cleaning and property management services has also developed within the industry to take advantage of the booming market.
