Is Airbnb Driving Up Rents?

Short term lets that allow visitors to ’live like locals’ is becoming increasingly popular in major tourist cities. But it isn’t all good news, especially for locals.

Camden Council is claiming that short-term rental website, Airbnb, is driving up rental prices in the area, which is making it increasingly hard for locals to find suitable rental accommodation.

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Airbnb Under Fire
This is not the first time Airbnb has come under fire. Authorities in Paris have said also expressed concern that the city’s housing market has been adversely affected:

“There is already a serious shortage of flats in Paris, especially studios and two-room apartments where couples might start a life together.”

The leader of Camden Council says that an increasing number of local residents are complaining about problems caused by short-term holiday lets in the area.

“With thousands of London families in need of a home, we need to strongly resist the growing market for short-stay lets of homes in areas like Camden, as we know these will reduce the options available for normal Londoners looking for somewhere affordable to live.”

Locals Rely on PRS
Councillor Sarah Hayward points out that more than a third of people living in Camden are reliant on private sector landlords to provide housing. If more people are turning to short-term lettings to make money, it reduces the availability of long-term lets, which in turn pushes rental prices up.

Part of the problem is that although short-term letting is regulated, it is very hard for local authorities to prove that an individual property is being let out on a short-term basis.

“The government’s 90-day rule solution is inadequate as it can’t be properly enforced. We need tougher measures to help stabilise this growing problem.”