Those wondering why Airbnb is accused of contributing to the shortage of long term rental stock may be interested in seeing a property close to the Glastonbury Festival site being let at £3,209 a night.
The property is in Pilton, a 10 minute walk from the main Pyramid stage at the festival, is described as a four bedroom party property available for £16,048 for the five nights of the event. The property boasts “fresh toilets, hot baths, great beds, comfortable furniture and a private garden.”
The Somerset Live website, which has investigated properties advertised on short let platforms, cites one landlord as saying on Airbnb: “The people renting our house in Glastonbury have had to pull out so it’s available again to rent. Regarding price, let’s just clear a few things up. The majority of rented property in Pilton and surrounding areas during the final is booked out for crew, news teams, etc.
“Therefore the prices are high. So yes, if it’s you and a few mates staying it will seem a lot of money whereas the larger companies are more than happy to pay these amounts, which is why you see properties in Pilton go for £5,000-plus. I do appreciate the comments about it costing a lot but these are the prices that the properties fetch which is why it’s set at the amount it is.”
Some 200,000 people are expected to descend on the Glastonbury area next week; many will camp on the 1,000 acre festival site but hundreds of local properties - some previously rented for long-term tenants - have been advertised on short let platforms.
A statement to Landlord Today from Airbnb says: “The average nightly price paid for a stay on Airbnb during the festival is just £205, providing affordable accommodation and helping local families boost their income and benefit from visitors to the festival. We would encourage anyone in the local community thinking about hosting to sign up to make some extra money and help offer additional accommodation around the event.”
Earlier this year a survey suggested that Airbnb owners are charging up to 600 per cent more to stay at their properties during major events such as the Glastonbury Festival and the British Grand Prix.
A study by website Money analysed the average nightly cost of an Airbnb over the dates of major events this coming spring and summer.
The average cost of an Airbnb in the same area was also taken for the week before the event, to demonstrate the difference in price, and reveal where Airbnb hoists have hiked charges the most.
The Glastonbury event has triggered rises of Airbnb properties in the area by 221.6 per cent, according to the Money analysis.
After a record-breaking attendance in 2021, the Formula 1 British Grand Prix in three weeks’ time is expected to again be the biggest sporting event in the UK, causing Airbnb prices to soar by 235.5 per cent. An average nightly Airbnb can be seen to jump from £186 to £624 during the event.
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Bit of a non story. Prices rise when demand is high. Shock, horror.
If this is supposed to be about the effect of Airbnb on the residential Lettings market then these sort of events are not the point. The fact that government makes it more tax efficient to rent via Airbnb than as family homes is probably the biggest catalyst for people changing their market clientele.
Its called making money while the sun shines - or in the case of Glastonbury more likely when it rains!
No different from holidays & flights costing more in the school holidays. If mugs weren't prepared to pay it then they couldn't charge it!
As said above, a non story and simply click bait. The Airbnb problem will be tackled at some point by the government, and then i expect those houses/flats to be either brought back into the general rental stock or sold.
How long has it been wrong to have B&B ? Tourist areas have always had B&B, If you have open borders, give illegal immigrants 4* accomodation, free dental and medical care, pocket money, then you are always going to have insufficient housing, NHS waiting lists and high taxes.
Fair play to them. I'd do the same. If people don't want to pay those prices, move on and find something cheaper if you can. It's all about supply and demand. I'm in the holiday let business and always raise my prices when there's high demand, I'd be a fool not to. People are always ready to complain about the 'filthy rich' landlords..
Nobody is forcing them to stay and pay the high rent. Pitch your tent in the field or pay the price, your choice.
It's not going to make him many friends, but is it any different to the rest of the Holiday sector? try booking a family holiday abroad in the school holidays. 4 beds x 2 people works out to around £400 per person per night, well you'll find a lot of places charge that elsewhere.
The usual culprits are complaining, but when you keep having a pop at the ordinary landlords don't be surprised there is no long-term accommodation available, you now have the farcical situation of local Councils pleading for Landlords to come forward and provide housing, but failing to recall they've spent the last few years driving them out... Just because a landlord sells up it doesn't free up a property for a family, it simply swaps the current tenants for owners, it doesn't somehow become two new homes.
At the end of the day, if people are prepared (or stupid enough) to pay it then people will be prepared to charge it. Not rocket science and not illegal. No one is forcing them to go.
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