Gold Coast City Council Announces Massive Rate Hike for Short-Term Accommodation Owners

The Gold Coast City Council has made waves with its recent announcement of a staggering 2621% rate increase for short-term accommodation owners on the Glitter Strip. This bold move aims to address the issue of property owners profiting from short-term rentals while skirting their fair share of rates. Mayor Tom Tate has called on residents to assist in the crackdown by reporting any unregistered short-term accommodation properties being used commercially.

Despite the hefty rate hike, experts believe it’s unlikely to alleviate the housing crisis gripping the region. With the rental market already tight and vacancy rates at an all-time low, the increase may not push short-term rental property owners to switch to the long-term rental market as hoped. The Real Estate Institute Queensland suggests that the focus should be on increasing housing supply rather than solely relying on rate hikes to address the issue.

Local governments have the opportunity to incentivize housing supply by streamlining development approval processes and facilitating the construction of more long-term rental properties. As the Gold Coast grapples with the challenges of housing affordability and availability, innovative solutions that tackle the root causes of the crisis are essential for sustainable change.

Article Title: Rate hike likely to impact short-term rental prices on Queensland’s Gold Coast
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