UPGo, the Urban Politics and Governance working group at McGill University, is proud to announce the release of Short-term Cities: Airbnb’s Impact on Canadian Housing Markets. This report is the first comparative analysis of short-term rentals in Canada’s three largest cities: Montreal, Toronto, and Vancouver. Across these cities there are over 81,000 active Airbnb listings which earned a collective $430 million last year. Of these, 14,000 listings are entire homes rented 60 days or more per year, and unlikely available for long term tenants. The most commercialized category—full-time, entire homes run by hosts with multiple listings—is also the fastest growing. These trends suggest increasing amounts of housing stock are being taken up by profit-seeking short-term rentals moving further and further away from the idea of home-sharing.
Conducted by McGill’s UPGo researchers—Prof. David Wachsmuth, Danielle Kerrigan, David Chaney, and Andrea Shillolo—the report details the increasing commercialization of home-sharing in the Canadian context and what cities should do about it.
Short-term Cities is available for download at upgo.lab.mcgill.ca/airbnb.