Australia’s top Airbnb earner raked in $5.3 million in the past year, renting out 247 properties in Sydney.
Top Australian hosts are earning far more than loose change for listing their spare room, apartment or house on popular accommodation site, new figures reveal.
The top 10 Airbnb hosts or property managers nationwide made between $2 and $5.3 million in the year to October 2017 across multiple listings.
The figures show the top earner in Australia was an unnamed host or property management company in Sydney.
Australia’s top Airbnb earner raked in $5.3 million in the past year, renting out 247 properties in Sydney (pictured is an Airbnb property in Sydney)
Top Australian hosts are earning far more than loose change for listing their spare room, apartment or house on popular accommodation site, new figures reveal (pictured is an Airbnb property in Sydney)
The top 10 Airbnb hosts or property managers nationwide made between $2 and $5.3 million in the year to October 2017 across multiple listings (pictured is an Airbnb property in Sydney)
The figures show the top earner in Australia was an unnamed host or property management company in Sydney (pictured is an Airbnb property in Sydney)
Their staggering $5.3 million total revenue came from 247 properties.
Seven of the top earning hosts in the past year were in New South Wales.
Operators in Wingecarribee and Wyong pulled in $4 million across a portfolio of 97 and 168 properties respectively, and a host near Byron Bay took in $3.7 million across 40 properties.
The average Airbnb host in Sydney makes $11,150 per listing annually.
In Melbourne, an operator made $3.7 million across 158 listings, while in Colac Otway someone made $3.5 million across 80 properties.
Airbnb co-founder Joe Gebbia (pictured) argues it’s a ‘misconception’ that the sharing platform involves property groups renting out entire apartments full-time
In Melbourne, an operator made $3.7 million across 158 listings, while in Colac Otway someone made $3.5 million across 80 properties (pictured is an Airbnb property in Brisbane)
The figures come from AirDNA, which is a company that crunches the numbers based on data from Airbnb (pictured is an Airbnb property in Sydney)
The figures come from AirDNA, which is a company that crunches the numbers based on data from Airbnb.
AirDNA chief executive Scott Shatford says Airbnb is increasingly becoming the domain of property management companies, despite starting out as a platform for individuals to share a spare room, apartment or house.
But Airbnb Australia manager Sam McDonagh insists two-thirds of the listings are still people sharing the home they live in.
‘We do know there are of course the professional property managers and traditional hospitality, like bed and breakfasts, that have always operated and are now listing on Airbnb,’ he said.
But Airbnb Australia manager Sam McDonagh insists two-thirds of the listings are still people sharing the home they live in (pictured is an Airbnb property in Sydney)
Mr McDonagh said so-called ‘next generation property managers’ were generally managing people’s homes (pictured is an Airbnb property in Canberra)
Mr McDonagh said that ultimately ‘market dynamics’ would determine the success or failure of big operators (pictured is an Airbnb property in Adelaide)
Airbnb co-founder Joe Gebbia argues it’s a ‘misconception’ that the sharing platform involves property groups renting out entire apartments full-time (pictured is an Airbnb property in Adelaide)
Acknowledging Airbnb needed to do a better job of categorising listings, Mr McDonagh said so-called ‘next generation property managers’ were generally managing people’s homes.
They took some of the work out of being a host by, for example, providing linen and cleaning services.
‘We see that as certainly growing in popularity,’ he said.
Mr McDonagh said that ultimately ‘market dynamics’ would determine the success or failure of big operators.
In cities around the world, the popularity of Airbnb has led some policymakers to argue the website is adding to housing affordability crises (pictured is an Airbnb property in Melbourne)
State and territory governments in Australia are scrambling to regulate the booming short-term holiday letting industry (pictured is an Airbnb property in Melbourne)
NSW has more than 40,000 Airbnb listings – with 25,000 in Sydney alone – but is yet to pass specific laws governing rentals (pictured is an Airbnb property in Melbourne)
‘We’re ambivalent in terms of whether someone has one property or five properties – if they’re a great host and they’re serving the community then we’re supportive of that.’
Airbnb co-founder Joe Gebbia argues it’s a ‘misconception’ that the sharing platform involves property groups renting out entire apartments full-time.
‘When we go city by city, country by country, our hosts are everyday average people,’ he said in Sydney this week.
In cities around the world, the popularity of Airbnb has led some policymakers to argue the website is adding to housing affordability crises, by transforming residential properties into tourist accommodation.
NSW Better Regulation Minister Matt Kean says a parliamentary inquiry should help ‘get the balance right’ (pictured is an Airbnb property in Perth)
A recent Deloitte Access Economics report found Airbnb guests were contributing $1.6 billion to the Australian economy and supporting over 14,000 jobs (pictured is an Airbnb property in Adelaide)
State and territory governments in Australia are scrambling to regulate the booming short-term holiday letting industry.
NSW has more than 40,000 Airbnb listings – with 25,000 in Sydney alone – but is yet to pass specific laws governing rentals. Instead, they’re left to local councils to regulate.
NSW Better Regulation Minister Matt Kean says a parliamentary inquiry should help ‘get the balance right’.
A Sydney host who has happily let out two modest properties for years on Airbnb is shocked a fellow operator is earning a huge $5.3 million annually across 247 listings (pictured is an Airbnb property in Canberra)
‘I’m not sure how that’s even happening to be honest – how do they own that many properties,’ said Noa Peer (pictured is an Airbnb property in Adelaide)
‘We don’t want a holiday accommodation market that’s so over-regulated it puts people off coming here, but people are also entitled to the quiet enjoyment of their homes,’ he said in a statement.
A recent Deloitte Access Economics report found Airbnb guests were contributing $1.6 billion to the Australian economy and supporting over 14,000 jobs.
It found hosts across the country earned a median income of $4920 in 2015/16.
A Sydney host who has happily let out two modest properties for years on Airbnb is shocked a fellow operator is earning a huge $5.3 million annually across 247 listings.
‘I’m not sure how that’s even happening to be honest – how do they own that many properties,’ said Noa Peer who has two one-bedroom Surry Hills apartments listed on Airbnb.
Ms Peer and her partner have listed their two properties for between $116 and $160 a night for nearly three years and say Airbnb makes them more money than having fixed tenants.
Ms Peer and her partner have listed their two properties for between $116 and $160 a night for nearly three years and say Airbnb makes them more money than having fixed tenants (pictured is an Airbnb property in Perth)
Ms Peer and her partner initially only rented out their properties on weekends but demand grew fast (pictured is an Airbnb property in Perth)
She noted the average annual takings for each of the 247 listings operated by the country’s top earner in Sydney ‘wasn’t that high’ once you broke down the numbers (pictured is an Airbnb property in Brisbane)
She was initially drawn to the personalised approach of the accommodation website and is surprised it’s increasingly being used by what Airbnb terms ‘next generation property managers’.
Ms Peer and her partner initially only rented out their properties on weekends but demand grew fast.
She noted the average annual takings for each of the 247 listings operated by the country’s top earner in Sydney ‘wasn’t that high’ once you broke down the numbers.
‘It’s not heaps of money – about $21,000 a property,’ she said.
The small-time operator also questioned whether the bigger players on Airbnb were able to offer the level of personalised service she prides herself on.
The small-time operator also questioned whether the bigger players on Airbnb were able to offer the level of personalised service she prides herself on (pictured is an Airbnb property in Perth)