The New South Wales government will cap the number of days properties can be offered on the short-term rental market in Byron Bay after it accepted a proposal from the council aimed at boosting housing supply.
Announcing the move on Tuesday, NSW Planning and Public Spaces Minister Paul Scully said the government had approved the cap once they were satisfied with Byron Shire Council's other plans to increase access to affordable homes.
However, a growing population throughout the region and limited construction of new properties have seen the housing supply for locals contract sharply as a result, pushing up prices to such an extent that some residents were unable to find a place to live. Mr Scully acknowledged that problem had been growing for"many years," and said the new policy should also help the region continue to grow as a tourist destination. Picture: NCA NewsWire/Pool/Bianca DeMarchi
While Byron Shire Council had originally proposed a 90 day cap, the state's Independent Planning Commission, which evaluated the move before the government agreed to implement it, suggested a 60 day cap would"send a stronger market signal" and push more properties to return to the long-term rental market.
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