2024-08-27
The Victorian Greens have secured key reforms that will stop property investors from hoarding homes to use as short stay accommodation, and instead make homes available for renters and first home buyers to live in.
In negotiation with the government, the Greens’ reforms will combine the 7.5% property investor levy in the Short Stay Levy Bill 2024 with stronger powers for Councils and owners’ corporations to limit or ban short stay accommodation in their communities. The reforms are due to come before Parliament this week.
Under the new changes, local governments will have the power to regulate short stay accommodation in their area - including restricting the number of short stay properties in any area, the number of days a property can be listed, introducing amenity and safety standards or banning short stay accommodation altogether. Local governments will also now have access to a register of short stay properties in their area to help them enforce any regulations.
The Greens also secured powers for owners corporations, which will have the power to prohibit short stay accommodation in their apartment buildings.
The Greens have also ensured that people who list a short-stay in their primary residence through platforms like Airbnb are exempt from the levy. This would mean those who want to temporarily let out a room in a house, or put their place up temporarily while on holiday would not be subject to the levy.
The Greens spokesperson for Renters’ Rights, Gabrielle de Vietri says that these reforms will free up homes for renters and first home buyers and that they’re essential measures we need to be taking to stop property investors hoarding homes in the middle of the worst housing crisis in living memory.
Quotes attributable to the Victorian Greens spokesperson for Renters’ Rights, Gabrielle de Vietri:
“In the middle of a housing crisis, it’s not right that 48,000 entire homes are on Airbnb across the state. This pushes up property prices, locks out first home buyers and takes homes away from renters.
“We’ve negotiated significant reforms that will stop investors hoarding homes for profit. The Greens reforms will combine a property investor levy with new powers for councils and owners corporations to ban or limit short stay accommodation in their communities.
“We know that communities across Victoria are sick to death of property investors snapping up homes to cash in on Airbnb while locals struggle to find somewhere to live.
“These reforms are going to make more homes available for renters and first home buyers to live in. We know that pressure works, and we will keep fighting for a rent freeze.”