Rental prices have skyrocketed in Australia — even in tourist mecca Byron Bay | The Drum | ABC News

In the tourist haven of Byron Bay in northern NSW, the median price for a rental is a whopping $956 a week, according to Corelogic —and the rental vacancy rate is at just 1.5 per cent. So, the Byron Shire Council plans to target short-term holiday rentals with a cap on the rental period to address these issues, but will it work?