Last updated on September 5th, 2023
If you are looking to buy an investment property in the most profitable Airbnb markets in Australia, particularly in Perth, this article is for you! By considering the primary key metrics for a successful investment including average daily rates, monthly revenue, and occupancy rates in Australia, this beautiful city will definitely be a great source of passive income.
Continue reading to learn more about Airbnb rules in Perth and learn more about profitability in this city!
Is Airbnb legal in Perth?
Let’s cut the story short: Yes, Airbnb is certainly legal in Perth! With a rough number of 13 million international visitors annually, this city in Western Australia has established to consistently earn from tourism expenditures over the decades.
Perth is mostly visited because of its many wonderful attractions including Kings Park & Botanic Garden, The Perth Mint, Cottlesloe Beach, Freemantle Prison, and other tourist attractions.
Here is a little proof! As of July 2022, there are 49,714 nights available in Perth from Airbnb alone. Phoebe manages 61 listings, while Let Go and SmartStayWA operate 52 and 36 respectively.
How much can I make by running an Airbnb in Perth?
Currently, there are 2,910 Airbnb listings in Perth, with 61% of entire houses earning up to A$3,397 a month. The Average Occupancy Rate in Perth is 67% and the average daily rate is A$117. According to vacation holiday rental market data source Airbtics, a 2-bedroom apartment in Perth can make up to A$49,698 each year. Make sure to check out our Airbnb Income Calculator!
What Are The Short-term Rental Accommodation Policies in Perth?
- It is required to get planning approval from the city in order legally rent your apartment or house to short-term guests on a commercial basis.
- Providers of short-term rental accommodation within Western Australia are required to register their property to operate and advertise.
- Once approved, a unique registration number should be advertised alongside the short-term rental.
- All applications will also be required to demonstrate compliance with the Disability Discrimination Act.
Is Perth A Profitable Area to Invest In?
If you’re worried about spending thousands of bucks to purchase a property, the good news is you don’t need to! Property investors and hosts prefer to do rental arbitrage in Australia since this does not require owning a property.
Based on statistical data for Perth, the rental population in this area is 43.26% with a steady rental yield of 5.49%.
By using an accurate short-term rental calculator, you’ll be able to confirm if Perth is a good place for investment! It’s important to know your estimated annual revenue and high-return investment opportunities in Perth – and with Airbtics, it shouldn’t be a difficult task at all!
Source: Property Investment in Perth
Perth’s Property Market 2022
According to Perth’s property market in 2022, this city’s local economy remains strong. Despite the low stock levels and current demand at peak, the growth trend is towards lower housing values.
Source: Perth’s Rental Market
Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:
| Suburbs | Price of 2bd Apartments | Average Rent Price | Average Airbnb Revenue |
|---|---|---|---|
| East Perth | A$700,000 (255sq.m. apartment) | A$2,824 | A$4,539 |
| Rockingham | A$410,000 (75 sq.m. apartment) | A$1,955 | A$3,520 |
| South Fremantle | A$410,000 (75 sq.m. apartment) | A$2,694 | A$4,530 |
Source for Property Price: Properties in Perth
Conclusion
In general, considering the Airbnb rules & regulations in Perth will help your Airbnb business to run smoothly! Aside from the fact that this is a passive income for various hosts, starting an Airbnb business is also a way to enjoy life and connect with new people from all over the world. Try Airbtics now and make the wisest investment decisions!
