A report by accountancy firm EY claims there is “little or no connection” between the proliferation of holiday rentals in the UK and the current housing crisis.
The company says Airbnb will contribute £5.7 billion to the UK economy in 2023 and that a Labour crackdown on holiday rentals would likely deal a blow to the tourism industry. 
One of the main measures to curb the proliferation of holiday rentals is to allow local authorities to double or even triple council tax on holiday rentals.
Criticized
But, as reported by The Neg, a tripling of council tax for second home owners in Pembrokeshire has sparked a flood of sales and drawn fierce criticism from local businesses.
Politicians from all parties have been quick to blame holiday rentals for rising rents and house prices, but the EY report found that 95% of increases in rents and house prices were due to other factors.
In reality, prices have only risen in line with incomes, and in most areas Airbnb accounts for only about 0.5 percent of the housing stock, according to the accounting firm.
However, EY acknowledges that there are some places where holiday rentals are working well, including the Derbyshire Dales, Cornwall, Thanet, North Norfolk and Kensington and Chelsea.
But Airbnb told the Telegraph that the high prices were not being blamed on short-term rental companies, but rather on a lack of housing construction by successive governments.
EY is one of the world's largest professional services networks.
