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“The 2020 numbers are for the first 12 days of June. The 2019 numbers are for the entire month of June 2019. So, as you can see, there has been an explosion of listings (on the long-term rental market) in the first 12 days this year compared to the full month of last year,” said Bayan Qandil, Condos.ca’s chief technology officer.
There has been an explosion of listings (on the long-term rental market)
Bayan Qandil
Data from AirDNA, an analytics company focused on the short-term rental market, also showed a clear decline in the number of available listings on Airbnb and VRBO sites in Toronto, Vancouver and Montreal, according to numbers provided to the Financial Post.
In Vancouver, there were 4,328 listings for entire units on Airbnb in January 2020, and just 3,651 by April 2020, an 18.5 per cent decrease. In the same period a year ago, the number of listings was essentially unchanged.
The same trends bore out in Toronto and Montreal, with declines of roughly 20 and 22 per cent, respectively — again, a pattern that was unique only to this year.
Shaun Hildebrand, president of Urbanation Inc., points out that Airbnb listings might have declined in conjunction with an increase in available units on the long-term rental market, but that does not necessarily imply correlation.
“The data indicate that there has been a very large percentage year-over-year increase in new listings of long-term furnished units — 62 per cent, to be precise — but, in absolute terms, an additional 213 new listings compared to last May is not very dramatic given the thousands of units that were estimated to have been operating as short-term rentals,” he said.
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