Thirty-two percent occupancy is the number that'll make you pause, and rightly so — for a world city of Sydney's weight, that's lean. But the trajectory matters here: twelve points of recovery over two years tells you this market was genuinely battered and has been climbing back steadily, not bouncing off a fluke weekend. At £208 AUD a night the rate's holding up, which means the drag is on fill, not pricing power. The 180-night cap on non-hosted lets is the structural ceiling you can't trade around — with 13,000-plus active listings all subject to the same constraint, your annual revenue is mathematically capped before you've even looked at a property. If you're buying to let short-term in Sydney without living there, run your numbers on 170 nights maximum and stress-
Year-over-year performance
Compared to the closest snapshot from approximately 12 months ago, the Sydney short-term rental market has shifted in measurable ways. Occupancy among active listings is down 1.6 points.
When Sydney Airbnbs perform best
Occupancy in Sydney peaks in September at 62% and bottoms out in November at 44%, a 18-point swing across the year. Price the peak, defend the shoulder months with minimum-stay rules, and budget the trough as empty.
| Month | Occupancy | Median nightly rate |
|---|---|---|
| January | 44% | — |
| February | 45% | — |
| March | 49% | — |
| April | 52% | — |
| May | 51% | — |
| June | 56% | — |
| July | 60% | — |
| August | 61% | — |
| September | 62% | — |
| October | 52% | — |
| November | 44% | — |
| December | 47% | — |
Looking ahead, 47% of the next 30 nights are already booked across the market, 44% of the next 60 and 46% of the next 90 (as of 2026-10-18).
How Sydney compares to Australia
Benchmarked against 11 other Australia markets we track, Sydney's metrics tell a clear story.
License & regulation
NSW STRA register mandatory for all properties. Non-hosted lets in Greater Sydney capped at 180 nights/year. Hosted (owner present) is unlimited. Strata schemes can ban STR by majority vote.
Source: https://www.nsw.gov.au/housing-and-construction/short-term-rental-accommodation
What kind of Airbnbs are in Sydney?
Of the 15,034 active operating listings, 81.4% are entire homes (vs private rooms), and 41.6% are operated by Airbnb Superhosts.
Top neighborhoods in Sydney
The 38 neighborhoods we track range from established tourist hotspots to emerging investment zones. Here are the 10 strongest by median annual revenue per listing, led by Sydney at £17,350 a year.
| Neighborhood | Listings | Occupancy | Annual revenue | RevPAR | YoY |
|---|---|---|---|---|---|
| Sydney | 3,951 | 26.3% | £17,350 | £48 | -1.6 pts YoY |
| North Sydney | 605 | 23% | £17,137 | £47 | -4.9 pts YoY |
| Mosman | 164 | 18.1% | £16,804 | £46 | -3.3 pts YoY |
| Pittwater | 540 | 11.5% | £15,660 | £43 | -2.8 pts YoY |
| Waverley | 1,245 | 18.1% | £15,147 | £42 | -1.1 pts YoY |
| Hunters Hill | 17 | 16.4% | £14,804 | £41 | -13.2 pts YoY |
| Manly | 662 | 16.4% | £14,569 | £40 | -3.3 pts YoY |
| Woollahra | 384 | 16.4% | £14,060 | £39 | -2.8 pts YoY |
| Sutherland Shire | 384 | 21.4% | £13,987 | £38 | +1.7 pts YoY |
| Leichhardt | 326 | 18.1% | £11,114 | £30 | -4.9 pts YoY |
Frequently asked questions
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