Is Melbourne A Good Area For Airbnb Hosting?

When we think of Airbnb, we often think of the big tourist destinations in the country, and for good reason. With millions of people yearly travelling for business and pleasure to Australia’s major hubs such as the Gold Coast, Melbourne, and Sydney, the widest pool of visitors means the most chances that someone will be looking for an Airbnb. However, with all of those travellers also comes a hefty amount of competition, with a wealth of property owners all trying to take that top spot as the space’s leading host. Given this, property investors who are looking to get their proverbial foot in the door need to be careful about selecting the right area to buy property, and it’s important to have all the facts before making that final decision.

Melbourne As An Airbnb Hosting Market

This is what brings Melbourne into the conversation. Over our time working as one of the best Airbnb hosting companies in Melbourne, we at Oasis Stay have spent a lot of time speaking with property owners about the pros and cons of the space when it comes to short-stay rental management. This can be seen in some of our previous blogs interviewing Airbnb property owners about their experiences, as well as our perfect Airbnb hosting guides written by real Airbnb hosts. All that goes to say that we have spent a lot of time thinking about the Airbnb hosting market in Melbourne and whether it’s a good fit for those looking to enter the space.

Naturally, whilst it may give the game away a little bit, it’s important to note that Melbourne is one of our best and brightest cities for Australian Airbnb management for a reason. Over the course of our many years of experience, we’ve simply found Melbourne to be one of the most resilient and varied markets for Airbnb hosting, and in this article, it’s my hope that we can detail some of the reasons that Melbourne, a city known for its high property costs in a country that is considered a highly desirable property market overall, is still considered to be one of the best for Airbnb hosts.

Is Airbnb Legal in Melbourne?

Yes, it absolutely is legal to have Airbnb properties in Melbourne. According to numbers from The Guardian, there are approximately 23,185 Airbnbs in greater Melbourne alone. That is a lot of people who have decided that it’s a good idea to book out their properties for short-stay rental purposes!

How Much Can You Earn From Airbnb in Victoria?

This is a number that can vary wildly depending on location, property, and overall conditions. However, according to Airbnb’s own internal statistics, Your average host would earn over $31,000 from Airbnb annually. With that said, there is a very sizeable difference from those on the lower end and those who are earning a lot more. There are also many ways for owners to improve their rental yield, such as working with an Airbnb hosting and management company like Oasis Stay. Contact us today if you’d like to learn more.

Is Melbourne’s Airbnb Market Prone to Growth?

If we suppose the past decade is anything to go by then yes absolutely. For example, there was an approximate 50% increase in Airbnb properties in Melbourne between 2017 and 2020. These numbers have remained stable after some disruptions during the lockdowns that Melbourne experienced in 2021-2022, and it has continued to be a great market for those investing.

What Makes Melbourne Good For Airbnb?

As we discussed earlier, most Airbnb cities that we look at are tourist destinations. Whilst Melbourne is certainly that, with a rich culture, beautiful architecture, and one of the largest shopping centres in the Southern Hemisphere in the form of Chadstone, that’s not the only drawcard that Melbourne has to offer. Melbourne, and Victoria as a whole, is Australia’s second largest tourist destination, with tourists spending an annual approximate amount of $36.1 billion in the financial year ending in June of 2023.

This breaks down into many different drawcards, from the Central Business District bringing in business people from across the globe to the natural vistas of Victoria to Australia’s abundance of world-class hospitals, universities, and more. The fact is that Melbourne is a cornucopia of delights that will likely always be on the must-visit list of many people from across the globe. It’s no wonder that it has been able to maintain its place in the top 3 most livable cities in the world.

The Best of Both Worlds, A Conclusion

With Melbourne offering a fantastic opportunity for business travel, tourism, world-class medical treatment, education and more, it’s safe to say that its appeal as an Airbnb hosting hotspot isn’t going anywhere any time soon. So, if you’re interested in putting your property on Airbnb, but want some professional assistance in getting your property noticed in the crowd, Oasis Stay is here to help. To learn more, contact our Airbnb hosting team today.

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