With the world’s premier motor racing series returning to Melbourne for another year in just a couple of weeks, Airbnb is encouraging residents to share their home to help their city handle the increased demand for accommodation across the city.
With a predicted surge in visitors to the city, it is expected that the attendance record of approximately 420,000 fans set in 2022 will be broken after tickets to this year’s event sold out in hours³, there has never been a better time to consider becoming a Host.
With an estimated 1.58 million spare bedrooms sitting empty in Melbourne⁴, home sharing presents a unique opportunity to generate some much needed income during the current cost of living crisis, while also helping out those looking for more affordable accommodation.
New and existing Airbnb Hosts are expected to provide significant support to popular events by providing greater accommodation capacity which currently could see guests needing to stay over an hour away from Albert Park, whilst offsetting their own rising living costs.
The event generated a total of $5.4m AUD in 2022, with Hosts earning on average $770 AUD by sharing their home over the three days of the event.
Hosting on Airbnb is a great way to help showcase Melbourne’s incredible world-class events and diverse and exciting experiences the city has to offer.
Airbnb offers a unique opportunity for new and existing Hosts in Melbourne to be a part of this incredible global event, while also creating an opportunity to earn extra income to combat rising cost of living.
Home sharing helps cities use existing space to scale up their capacity and welcome major events like this. It also empowers locals to provide sustainable and affordable accommodation across the city, benefitting the local economy.
Hosts on Airbnb play a valuable role in making guests feel extremely welcome and our Melbourne Hosts are no exception as they help to point guests in the direction of the best hidden gems and local businesses to support. There is also opportunity for Hosts who are wanting to open their homes in Bells Beach for the upcoming Rip Curl Pro taking place over Easter around the Bellarine Peninsula and Victorian Surf Coast.
Susan Wheeldon, Airbnb’s Country Manager for Australia and New Zealand
Emily Banks and her husband Duncan recently Hosted during the Australian Open held in Melbourne earlier this year and highly recommend the experience to other potential Hosts.
We have been hosting our apartment on Airbnb for 7 years and highly recommend the experience as a means to not only earn extra income but also foster a connection with visitors and fans during this and other events throughout the year. We have always had positive experiences with our guests who visit Melbourne and enjoy helping those who are visiting for the first time find the best of what the city has to offer, which they were so appreciative of.
Emily Banks, Airbnb Host
From the Rio 2016 Olympic Games, Townsville hosting its first ever interstate footy fixture, the world cycling championships in Wollongong or last year’s Commonwealth Games in Birmingham, Airbnb Hosts have a long history of helping cities accommodate big events, while generating benefits for local families and communities. Home sharing allows cities to flexibly increase the number of guests they can accommodate without expensive building and infrastructure projects, providing a more sustainable way of accommodating a surge in visitors.
In a survey*, more than a third of Australian Hosts said one of the reasons they host is to earn money to help cover the rising cost of living, while almost four in 10 said that hosting income has helped them stay in their home. Many Hosts also do not use their property for short-stay accommodation all-year round – with many doing so on an ad-hoc basis to help meet their mortgage repayments, pay bills or save for their retirement.
With the event fast approaching, we encourage those who are thinking about Hosting to start getting their property and listing ready. Earlier this month, Airbnb made it even easier to Airbnb your home through Airbnb Setup, featuring one-to-one guidance from a Superhost, the opportunity to host an experienced guest as your first guest, as well as one-tap access to specially-trained Community support agents. Together with even more AirCover for Hosts, which tripled damage protection to $3 million and expanded guest identity verification, among other top protections for both inside and outside your home, it’s a great time to become a Host and start earning.
*Based on a survey of Airbnb Hosts with listings in Australia between June 1, 2021 and Dec. 31, 2021.
¹ Based on data showing median Host earnings during event dates last year 8 – 10 April 2022
⁴ ABS data based on number of private dwellings in Melbourne (2,057,482) and the percentage of dwellings nationally with at least one empty room (76.8% Ahuri Research)