Mike Blackburn: construction market analyst on Airbnb rates in Christchurch dropping

Airbnb rates in Christchurch have fallen for the first time in five years, as hosts flood the market before the new stadium opens. The Press reports average short-term rental income dropped to $105 a night last year - down $2 annually. Construction market analyst Mike Blackburn says multi-unit builds are dominating the city, with some apartments just 39 square metres with no carpark. "These are units that are part of 20 or 30 units in a block, and they're specifically being built and being marketed and sold as Airbnb units." LISTEN ABOVESee omnystudio.com/listener for privacy information.