Apologies for subjecting you to another short-term letting vent, but after last week's state government schemozzle when the new holiday rental regulations were announced, then shelved, we thought we’d better have a look at what was going on.And it turns out it was a case of history repeating itself. Remember a couple of years ago when the then Planning Minister Anthony Roberts and former Better Regulation Minister Matt Kean were about to announce new NSW short-term letting regulations that would basically have handed the whole box and dice to Airbnb-style hosts on a plate?The microphones were plugged in, the TV cameras lights were at full dazzle, and then right at the last minute a couple of Government MPs realised that residential rentals across the state were about to be handed wholesale to a bunch of American “disruptors” with few if any comeback or restraints.Listen HereSuddenly it was mikes off, lights out and “don’t call us, we’ll call you”.Well, something similar happened last week, only the announcement of what would probably have been the toughest short-term letting regulations in Australia was made and then three days later they were shelved until NovemberWhat happened? Surely it wasn't just that holiday rental giants Stayz and apartment owner advocates OCN both complained bitterly, was it? Listen to the podcast for our somewhat cynical insight into the whole farrago.Also we look at Mascot Towers, two years down the track, the massive financial losses apartment owners face and what we think the government should do.And Sue visits West Australia where property is going through the roof in a state that almost defines the phrase "boom and bust".That’s all in this week’s Flat Chat Wrap.Transcript in fullJimmy 0:00 Wow, what a week; double whammy! No sooner had we published last week's podcast, all about the new Airbnb or short-term letting regulations, then the government did a U -turn.Sue 0:14 Yeah, they were obviously listening to you, Jimmy and thought, 'wow, we realize there's so many problems with it.'Jimmy 0:20 Then I've looked on the internet and discovered that you couldn't actually hear the podcast anyway. We had about 11 listeners and then you were away; you were in Perth?Sue 0:31 Yes, I was.Jimmy 0:32 So, I couldn't re-record.Sue 0:34 But you managed to sort it out.Jimmy 0:35 Kind of, yes and here we are today. We're going to talk about why we think the government changed its mind. We're going to talk about Mascot Towers; the latest on that. And, we're going to talk about a massive projected increase in house prices in WA.Sue 0:53 A sign of my dedication, going over there to check it out for you.Jimmy 0:56 Absolutely, going round all the real estate agent windows, taking notes. I'm Jimmy Thomson, I write the Flat Chat column for the Australian Financial Review.Sue 1:08 And I'm Sue Williams and I write about property for Domain.Jimmy 1:11 And this is the Flat Chat Wrap.So, that was a pretty sudden turnaround by the government on short-term letting. I mean, they released it on Friday afternoon, a week ago. 'Take the trash out day' (they call it on the West Wing here, where you get rid of all the stories that you don't want to have too m
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Recorded by Jimmy Thomson & Sue Williams; Transcribed by Otter.ai.
Find out more about Sue Williams and Jimmy Thomson on their websites.
