2022-11-14 GC Agenda - Item 4 - Attachment 2 - Appendix 13 to Attachment 1

NOOSA SHORT STAY ACCOMMODATION ECONOMIC & SOCIAL ASSESSMENT


Noosa Heads and Noosaville recorded strong growth in short term rental dwelling demand and supply between YE
July 2021 and YE July 2022, while Sunshine Beach recorded a small decline. In keeping with these locations being
the most in demand, they also recorded the highest ADR of the locations examined in Noosa.

In terms of other locations in Noosa:

•     Pomona experienced strong growth in demand (32.8%) and supply (44.2%) of short term rental dwellings over
      the period.

•     Peregian Beach experienced declines in both demand (-4.1%) and supply (-9.1%).

•     Cooroy experienced growth in demand (7.9%) but a decline in supply (-4.0%).

•     The above three locations of Cooroy (41.5%), Pomona (39.5%) and Peregian Beach (26.1%) also recorded
      higher percent growth in ADR between the YE July 2021 and YE July 2022 than the three most popular
      destinations of Noosa Heads, Noosaville and Sunshine Beach.


    Key Findings
    Analysis of trends in short term rental dwelling data highlights that COVID-19, as well as resulting border
    closures and domestic lockdowns, had a significant impact on supply, demand and rental prices for short term
    rental dwellings. For example, nights occupied fell by 12.3% in 2020 compared to 2019.

    The reopening of international borders and relaxing of restrictions in 2022 has seen demand steadily increase
    throughout the year with the total nights occupied in short term rental dwellings over the first nine months of
    2022 the highest ever recorded over the January to September period and record occupancy rates for short
    term rental dwellings were recorded in August and September 2022.




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