July 17, 2016 4:27 pm

Report shows 5,000+ short-term rentals listed in Vancouver

The new analysis by a consulting company will help the City of Vancouver create strategies to increase rental housing.

A A

The City of Vancouver has just released details from a report by a consulting firm that analyzed short-term rentals in the city.

The new analysis shows there were more than 5,000 short-term rentals listed in 2015 on sites such as Airbnb and Flipkey.

Seventy-five per cent of the places listed were entire homes, condos or apartments. It also shows Airbnb dominated the market with 85 per cent of the total units listed online.

Story continues below

READ MORE: Research suggests of Vancouver Airbnb hosts are commercial operators

The highest concentration of rentals was Downtown with 31 per cent, followed by Mount Pleasant/Renfrew at 15 per cent, and then Kitsilano/Point Grey at 14 per cent.

The release by the city says the data was gathered throughout 2015, and they plan to use the data in future strategies for increasing rental housing.

“While the City sees the value short-term rental accommodations can provide to residents and visitors, there is concern about possible impacts on the rental stock, especially with this rate of growth,” reads the statement from the city.

Airbnb released numbers last week  that showed listings in the city have doubled every year since 2013.

Vancouver councillors will be looking at how other cities with low vacancy rates and high tourist volumes regulate short-term rentals.

The city will be launching an online survey on July 20 as part of their consultation process.

© 2016 Global News, a division of Corus Entertainment Inc.

Report an error

Comments

Want to discuss? Please read our Commenting Policy first.

Global News