Media Release — New 60-day Byron Bay STRA booking cap will raise rates and hurt tourism says ASTRA
ASTRA opposes the new 60-day cap for short term rentals across most parts of Byron Shire in far northern NSW, saying the new law creates a two-class property economy and will hurt local tourism operators.
Catherine Shields, Head of Policy for ASTRA, says reducing the cap from 180-days for non-hosted properties outside Byron Bay’s main tourism areas will cause a supply-demand imbalance, forcing lodging prices up.
“We support reasonable regulation of short term rentals but believe reducing the cap to 60-days is a step too far and will damage the local tourism economy,” says Shields.
ASTRA believes the cap, which started today, will make little positive impact on housing stock or affordability and could cut local spending by $267 million a year and cost up to 1,448 jobs.
Under the new rules, non-hosted short term rentals in Byron Bay’s main tourism areas, including Main Beach and Wategos, have no booking caps and can lease up to 365 days a year.
