2021-12-13 GC Agenda - Item 8 -Attachment 1 - Housing Needs Assessment

Figure 24 Residential Vacancy Rate 4566 postcode




Source: SQM Research Pty Ltd 2021


The 4567 postcode covers Noosa Heads, Sunshine Beach, Sunrise Beach and Castaways Beach.
It shows quite regular dips and low vacancy rates every November-December with vacancy rates
higher in the middle of each year. This postcode was most affected by the decrease in tourist number
in the period of March-May 2020 when the vacancy rate jumped to 6.8% (116 vacancies) suggesting
the temporary shift or properties from short-term rental to permanent rental. The vacancy rate
dropped sharply over the next couple of months and in the 12 months from July 2020 vacancy rates
ranged between 1.3% and 0.4%, sitting at 0.6% in June 2021.
Figure 25 Residential Vacancy Rates 4567 postcode




Source: SQM Research Pty Ltd 2021
AHURI has published findings of research43 that analysed the change in Airbnb property listings pre-
COVID19 and during COVID19. Their project found it was clear that the withdrawal of homes from
the short term rental platform contributed to an easing of vacancy rates in both Sydney and Hobart
flow on impacts for rents. The release of some short term accommodation into the permanent rental
and informal rental market increased supply but not demonstrably at the affordable end of the
market. In tight regional markets such as Shoalhaven on the NSW South Coast, rental availability


43 Buckle, C., Gurran, N., Phibbs, P., Harris, P., Lea, T. and Shrivastava, R. (2020) Marginal housing during

COVID-19, AHURI Final Report No. 348, Australian Housing and Urban Research Institute Limited, Melbourne.


Noosa Housing Needs Assessment 2021                                                                 Page 89