Earn money from your property
With the number of entire properties on Airbnb sitting at 22,482 right now, the popular site has seen an impressive 43% growth in the last 12 months. Although there are some definite trends around where Airbnb is already a success, there are also some surprising up-and-coming hotspots.
Areas which stand out for both the absolute volume of entire properties listed and growth year on year are Kensington and Chelsea and Tower Hamlets. This isn’t a surprise, with popular spots Chelsea and Shoreditch located here. AirDNA data* shows that Kensington and Chelsea saw a 47% rise in booked listings year on year, with a record 2629 booked listings in March 2018. Similarly, Tower Hamlets saw a 50% rise in booked listings, with 2263 booked listings reported in March 2018.
Although there is an obvious growth in booked listings in well-known or central areas of London, the data clearly shows fast growth in areas beyond zone 1 and 2 in the last year too. Half a dozen boroughs have jumped onto the Airbnb map who had little footprint on the site going back two years.
The highest growth was seen by Sutton which had a 183% growth in booked listing 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.
Portico Host is an Airbnb Management Service run by London estate agent Portico. Launching at the start of 2017, Portico Host has seen a 54% rise in booked listings year on year. The service, which operates in zone 1 to 4 has seen significant growth which is in line with Airbnb in London as a whole.
Mark Lawrinson, Regional Director at Portico, said, “Portico Host has seen high growth across zones 1 to 4. This is because 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.”