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2022-11-14 GC Agenda - Item 4 - Attachment 2 - Appendix 13 to Attachment 1
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NOOSA SHORT STAY ACCOMMODATION ECONOMIC & SOCIAL ASSESSMENT
2.2 SHORT TERM RENTAL DWELLING DATA
2.2.1 Trends in Supply and Demand of Short Term Rental Dwellings
Analysis of monthly data from AirDNA of nights available (supply) and nights occupied (demand) across Noosa for
short term rental dwellings listed on Airbnb and Stayz/Vrbo indicates that prior to January 2020 both supply and
demand generally trended upwards, peaking at around 70,000 nights available and around 43,500 nights
demanded in January 2020. However, in early 2020 the global and Australian economy and tourism market was
significantly impacted by COVID-19, including closure of international borders and domestic lockdowns. This saw
the number of short term rental dwelling nights available and occupied in Noosa fall throughout 2020, as shown in
Table 2.1.
Table 2.1. Annual Supply and Demand for Short Term Rental Dwellings in Noosa, 2018 to 2022
Metric 2018 2019 2020 2021 2022 (YTD)
Supply (Nights Available) 530,267 645,162 626,252 641,924 467,061
Demand (Nights Occupied) 305,102 375,967 329,558 340,320 316,147
Occupancy Rate (%) 57.5% 58.3% 52.6% 53.0% 67.7%
Notes: YTD = year to date, January to September. June 2020 to September 2022 monthly values are based on the latest (September) data from
AirDNA provided by Noosa Shire Council. Earlier months are inferred estimates based on the monthly change from previous data provided by
Noosa Shire Council, applied to the June 2020 month.
Source: AirDNA data supplied by Noosa Shire Council.
Since July 2021, demand has been steadily increasing and total demand through 2022 year to date (January to
September) of 316,147 nights occupied has exceeded pre-COVID demand (2019) over the same period of 266,286
nights.
The supply of short term rental dwellings has remained at similar levels since January 2020, which has seen
occupancy improve and in September 2022 the occupancy rate for short term rental dwellings was around 85%
(see Figure 2.6). The average occupancy for 2022 year to date of 67.7% is 9.4 percentage points higher than the
occupancy rate recorded in 2019 (see Table 2.1). Increased occupancy has seen some of the latent supply in the
market being taken up.
Figure 2.6. Monthly Supply and Demand of Short Term Rental Dwellings in Noosa, January 2018 to
September 2022
72,000 90%
64,000 80%
56,000 70%
Occupancy Rate (%)
48,000 60%
Nights
40,000 50%
32,000 40%
24,000 30%
16,000 20%
8,000 10%
0 0%
Jul-2018
Jul-2019
Jul-2020
Jul-2021
Jul-2022
Jan-2018
Jan-2019
Jan-2020
Jan-2021
Jan-2022
Apr-2018
Oct-2018
Apr-2019
Oct-2019
Apr-2020
Oct-2020
Apr-2021
Oct-2021
Apr-2022
Supply (Nights Available) Demand (Nights Occupied) Occupancy Rate (%)
Note: June 2020 to September 2022 monthly values are based on the latest (September) data from AirDNA provided by Noosa Shire Council.
Earlier months are inferred estimates based on the monthly change from previous data provided by Noosa Shire Council, applied to the June
2020 month.
Source: AirDNA data supplied by Noosa Shire Council.
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