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TODAY'S OTHER NEWS

Sharp rise in Airbnb listings in London

London now has significantly more Airbnb listings than ever before, with a growing number of buy-to-let landlords turning to the holiday letting website to list their properties to let.

Despite the 90-day cap on listings, Airbnb is helping thousands of landlords secure rentals every week, prompting concern among some Londoners that an epidemic of bookings is changing the character of some popular neighbourhoods in the capital.

London has seen the biggest jump in the number of individuals advertising property on Airbnb, with a 43% rise in the volume of multi-listings on Airbnb recorded in the last 12 months, according to Portico.

The company, which launched an Airbnb interior styling service last year, as part of their premium Airbnb management package, reports that while there are some definite trends around where Airbnb is already a success, including Kensington and Chelsea and Tower Hamlets, there are also some surprising up-and-coming hotspots.

The highest growth in booked listings was recorded in Sutton which saw a 183% increase in booked listings year-on-year, up from an almost non-existent presence on Airbnb in 2016. They currently have 151 active rentals, with the second cheapest average daily rate in London, at £71.

Other areas in which the number of booked properties rose over 60% in the last year include Hillingdon, Enfield, Barking and Dagenham and Redbridge, all areas from which central London is easily commutable.

Mark Lawrinson, regional director at Portico, said: “Airbnb has become a way of life for most Londoners and isn’t confined to those that are property professionals or landlords. Although it is a great option for landlords to maximise income during void periods, it is also a fantastic way to make additional income out of your property at points you don’t need it, such as work trips away, holidays or just the odd weekend.

“We have seen great take-up on Portico Host, our full Airbnb management service where we take care of everything from the initial rental valuation to the preparation of the property. This is an attractive prospect for Airbnb hosts as the on hand management team take care of everything, and just deliver the pay-packet at the end of the month.”

Borough

Booked listings March 2018 (entire properties only)

Booked listings March 2017 (entire properties only)

Booked listings March 2016 (entire properties only)

Difference 2017 - 2018

Difference 2016 - 2018

Sutton

34

12

7

283%

486%

Bromley

111

42

38

264%

292%

Hillingdon

62

30

24

207%

258%

Kingston Upon Thames

88

52

36

169%

244%

Enfield

64

38

33

168%

194%

Barking and Dagenham

23

14

5

164%

460%

Barnet

222

136

96

163%

231%

Ealing

261

161

116

162%

225%

Croydon

154

95

52

162%

296%

Greenwich

299

186

159

161%

188%

Redbridge

69

43

28

160%

246%

City of London

287

179

164

160%

175%

Newham

418

263

177

159%

236%

Brent

488

309

270

158%

181%

Tower Hamlets

2263

1507

1114

150%

203%

Bexley

15

10

8

150%

188%

Lewisham

327

221

176

148%

186%

Kensington and Chelsea

2629

1790

1278

147%

206%

Merton

155

108

69

144%

225%

LONDON

22482

15673

11815

143%

190%

Lambeth

1129

794

625

142%

181%

Wandsworth

843

594

449

142%

188%

Westminster

4030

2840

2029

142%

199%

Camden

2103

1502

1134

140%

185%

Richmond Upon Thames

265

192

133

138%

199%

Southwark

1315

954

695

138%

189%

Hammersmith and Fulham

1229

902

620

136%

198%

Islington

1411

1055

883

134%

160%

Hackney

1356

1018

928

133%

146%

Waltham Forest

203

159

94

128%

216%

Haringey

301

236

193

128%

156%

Hounslow

161

133

85

121%

189%

Harrow

68

61

25

111%

272%

Havering

17

16

5

106%

340%

AirDNA data taken in April 2018.

  • icon

    Thank you for the article, it is very interesting to see this rise.
    It is also highlighting that doing a short-term rental placement is a very lucrative activity for homeowners.
    Nonetheless, this process can bring a lot of hassle and most of the time the pricing of the accommodations are not well optimised.
    For those interested to remove these issues, the best way is to contact an Airbnb property manager: http://trust.madecomfy.com.au/property-management/airbnb-investment-management/

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