Port Lincoln STR Summer Snapshot 2024/25
As the summer season approaches, Port Lincoln's short-term rental market gears up for its most vibrant and profitable period of the year. Spanning from December to March, summer brings a perfect mix of holiday travellers, festive celebrations, and school vacations, making it the most dynamic season for rental operators.
To provide you with valuable insights and strategies, we’ve used data from AirDNA. This tool offers detailed analytics on market trends, competitor performance, and pricing strategies, enabling property owners to maximise their potential.
In this seasonal snapshot, we’ll delve into booking demand, revenue trends, occupancy patterns, and pricing strategies to help you make informed decisions and seize the opportunities this summer brings.
Booking Demand and Seasonality
Summer is synonymous with high demand in Port Lincoln, with December and January marking the peak of the year:
Demand Trends:
December and January are the standout months, with booking demand surging during Christmas, New Year, and the start of the school holidays.
Demand remains strong through February due to lingering holiday travelers, tapering off in March as the season winds down.
Future Bookings:
Most bookings for summer are made 31-60 days in advance, especially for Christmas and New Year, with a notable uptick in last-minute bookings (0-7 days) for February and March as the season progresses.
Action: Open your summer calendar at least 90 days in advance to capture early demand for the peak months. Consider running promotions for February and March to encourage bookings during the latter part of summer.
Occupancy Rates and Guest Behaviour
Summer occupancy rates are consistently higher than the annual average, peaking at 70% in December and remaining strong through January and February.
Length of Stay:
Guests stay an average of 4 days during December and January, reflecting the trend of longer holiday trips. Stays shorten slightly in February and March, aligning with weekend getaways and shorter vacations.
Property Sizes:
3-bedroom properties are the most sought-after during summer, appealing to families and larger groups traveling during school holidays.
Holiday Peak:
New Year’s Eve and the days surrounding Christmas see the highest occupancy rates of the season, with demand for premium properties surging during these times.
Action: Focus on marketing family-friendly or group accommodations. Promote multi-night stays during peak weeks and offer shorter-stay packages for February and March to maintain occupancy as demand tapers off.
Revenue and Pricing Trends
The summer season brings a substantial revenue boost for short-term rentals in Port Lincoln. Here are the key highlights:
Revenue Per Available Room (RevPAR):
RevPAR is strongest during December and January, with an average of $140.2 on weekends, reflecting increased spending during festive periods.
Daily Rates:
The average daily rate during summer peaks at $231.3 in December, gradually decreasing through February and March. Luxury properties and professionally managed listings consistently achieve the highest rates, averaging $346.2 per night for the season.
Annual Revenue by Property Type:
Apartments lead in annual revenue, averaging $40.8K, followed by entire homes ($38.8K) and houses ($37.2K).
Action: Use dynamic pricing to capitalise on the holiday period. Increase rates for premium properties during high-demand weeks like Christmas and New Year while offering competitive discounts for February and March to sustain bookings as demand dips.
Market Performance Overview
Port Lincoln’s summer market boasts a market score of 71, indicating strong seasonal performance despite challenges in revenue growth.
Active Listings:
Listings have grown by 8% year-over-year, with a total of 161 active listings. Airbnb dominates, accounting for 68% of bookings.
Occupancy Variance:
December and January see the highest occupancy rates (70%), while February and March maintain steady occupancy between 55-60%.
Revenue Distribution:
Listings in the 90th percentile generate $8K or more in monthly revenue during summer, underscoring the earning potential of high-performing properties.
Action: Ensure your listings are live and optimized across major platforms like Airbnb. Highlight amenities and prime location features to stand out during the competitive holiday season.
Key Metrics for Maximising Summer Bookings
Here’s how to make the most of the summer season:
Advance Booking Strategy:
Open your summer calendar at least 90 days ahead to capture early bookings for peak weeks (Christmas and New Year).
Focus on securing 31-60 day lead-time bookings for December and January while targeting last-minute travelers for February and March.
Dynamic Pricing Approach:
December to January: Premium pricing for holiday weeks and weekends, especially for larger properties and luxury listings.
February to March: Gradually lower rates to remain competitive as demand softens, with weekend pricing higher than weekday rates.
Highest Occupancy Rates by Month:
December: 70%
January: 68%
February: 55%
March: 50%
Promote longer stays during December and January to capture peak holiday demand, while offering flexible short-stay options in February and March to attract weekend travellers.
Conclusion
The summer season, stretching from December to March, represents a golden opportunity for short-term rental operators in Port Lincoln. With demand peaking during Christmas, New Year, and the school holidays, this period is critical for maximising revenue and occupancy.
By opening calendars early, implementing dynamic pricing, and tailoring marketing efforts to attract families and groups, property owners can capitalise on this high-demand season. As the season progresses into February and March, strategic adjustments to pricing and stay requirements will help sustain performance.
Stay informed, agile, and prepared for a profitable summer in Port Lincoln’s thriving short-term rental market.
