Victoria's Airbnb boom is over, but don't expect a rental windfall. The growth in short-stay accommodation listings has stagnated, threatening to drain revenue for social housing. Data shows a slowdown in 2025, despite a 7.5% levy introduced the same year. Analysts attribute this to cooling demand, not higher taxes. The number of listings in Victoria averaged 43,735 daily in 2025, similar to the previous year. This follows significant increases post-COVID-19 pandemic. The levy aims to shift short-term listings to long-term rentals, but revenue uncertainty persists. Homes Victoria, managing public housing, recorded a $359 million deficit. The tax has fallen short of its goals, with studies showing short-stay rentals remain financially advantageous. The opposition criticizes the levy as a desperate attempt to fix failing finances. The government defends its approach, emphasizing the need to increase housing supply.
