According to a report by Third Space Planning, short term rentals in Qualicum Beach are harming the local housing and rental markets and making life less affordable.
Eric Swanson from Third Space Planning presented the findings to the town council on February 28.
“Turning to impacts on the town's housing market, we assess short term rentals are largely bringing harm,” he said. “This is because while a small minority of residents may benefit from being short term rental operators, this activity has been shown to decrease housing availability and affordability for both prospective owners and renters market wide.”
Swanson said that short term rentals are directly impacting affordability for renters in the area and currently make up between six and seven percent of rental housing in the town.