Rye tops national Airbnb list as landlords turn to short stays amid rising costs

Rye’s front beach is a popular spot in summer, and the local supply of short-stay rentals reflects the high demand. Picture: Jason Edwards. Melbourne’s Mornington Peninsula is Australia’s short-term rental capital with more than 40 per cent of potential rental homes in one suburb appearing on Airbnb. But with the rising cost of living, soaring interest rates and heightened land-tax bills and regulatory burdens for landlords, short-stay lease operators are believed to be using the more lucrative rental format to keep up with costs. Rye is the national capital, with an estimated 44 per cent of rental homes there tied into the platform. RELATED: Dan Andrews sells home for $1.75m windfall Ross Wilson, Barry Palmer score multimillion-dollar deals ‘Sinister’: Vic govt slammed for landlord data delay Also in the national top 10 were Capel Sound, Dromana, Mt Martha, Rosebud and Safety Beach. The data comes as separate Mornington Peninsula Shire data has shown that in August this year there were 157 active homeless cases across the council area, including 107 were sleeping rough. It’s an increase from 105 a year prior, despite the council announcing plans to work towards a zero homelessness...