A flurry of recent listings demand 15-night minimums at steep prices.
Remember at the start of the pandemic when Burnaby homeowners were freaking out because travel was dead and they couldn’t list their homes on Airbnb?
Well, things have definitely changed.
As the cruise has started to arrive in Vancouver again and the weather warms up, Airbnb has been inundated with new short-term listings in Burnaby.
And some of these homes are available for mind-boggling nightly sums.
A rental is a room in a “Colonial-style” house in Deer Lake that costs $860 a night — and you have to make a minimum of three nights to even be considered.
Then there’s the use of a house also near Deer Lake that costs almost $750 a night, but get this – you need to book for a minimum of 15 nights.
Other Airbnb rental listings are over $700 a night, though some of them give you an entire house, so if you’re sharing with others, that makes it more affordable.
And there are lists in the $200 range. I remember when Airbnb listings cost between $50 and $100 because the service was advertised as a cheap way to travel. It feels like a thing of the past.
And all of this is having a devastating impact on the rental market in Burnaby as the supply of available housing becomes scarce. The fewer the advertisements, the more the available rentals are requested and the more the prices increase.
Rents in Burnaby are at historic highs.
A report from Rentals.ca says Burnaby was fourth on the list for average monthly rent in March for a one-bedroom home at $1,959 and sixth for average monthly rent for a two-bedroom home at $2,398 .
Year-over-year, the average monthly rent in March for a one-bedroom apartment in Burnaby rose 16.5% and 9.9% for a two-bedroom apartment.
The average rent for all Canadian properties listed on Rentals.ca in March was $1,818 per month, an increase of 6.6% per year, according to the Rentals.ca and Research and advice in enclosure latest National Rent Report.
Vancouver topped the list of 35 cities for the average monthly rent in March for a one-bedroom home at $2,280 and for the average monthly rent for a two-bedroom home at $3,122.
Follow Chris Campbell on Twitter @shinebox44.
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