Putting your property on Airbnb is something you might not have considered before, but may be a fantastic option for utilising your empty property and earning you a little extra cash at the same time.
Whether this is the first time you’ve thought about it or not, your area could be offering fantastic short let yields, so now may be the time to consider it. And using an Airbnb Management Company to take care of your property through the process, going on Airbnb doesn’t have to be time-consuming or complicated to set up.
Explore the five areas of London which are most successful for Airbnb right now with London Estate Agent Portico and find out more about how the Portico Host Airbnb Management Team can help you!
London Airbnb revenue averages
Within London, according to AirDNA data, the Average Daily Rate of an entire property Airbnb sits at £135, with an Average Monthly Revenue of £2098. The Average Monthly Occupancy is 76%. Looking at these averages, the five best performing London boroughs are:
A popular area of London for visitors, the Borough of Camden covers Camden Town, Regent’s Park and all the way down to Tottenham Court Road and Covent Garden. The area is always bustling until about mid-October before picking up again for the winter visitors who flock here to shop on Oxford Street.
Average Daily Rate: £153
Average Monthly Revenue: £2558
Average Monthly Occupancy: 77%
Booked properties in Camden in the previous month are 8% of overall booked properties in London
Best performing areas: Hampstead Heath, Kentish Town Road, Camden Town, St Pancras, Goodge Street, Shorts Gardens and Clerkenwell Road.
City of London
The City of London is an extremely in-demand area on Airbnb year round due to the amount of large corporations based here, for which high numbers of workers travel in from foreign strands of the businesses. Therefore The City will always be in need of Airbnb properties, which is likely to drive up price and demand.
Average Daily Rate: £159
Average Monthly Revenue: £2844
Average Monthly Occupancy: 75%
Booked properties in City of London in the previous month are 0.7% of overall booked properties in London
Best performing areas: Fleet Street, Chancery Lane, St Paul’s Cathedral, Fenchurch Street and Spitalfields.
An example of a well-performing Airbnb near The City is this one bed flat in Old Street.
Home to bustling areas such as Clapham and Battersea, Wandsworth is a great area for Airbnb. With great transport links and being well-known for their village-like feel and gorgeous Victorian terraces, these lively areas are popular, and therefore a great spot to Airbnb your property.
Average Daily Rate: £130
Average Monthly Revenue: £1946
Average Monthly Occupancy: 76%
Booked properties in Wandsworth in the previous month are 4% of overall booked properties in London
Best performing areas: Battersea Power Station, Nine Elms Lane, Clapham Junction Station, Wandsworth High Street and Northcote Road.
It’s no surprise that this central location is popular, being within walking distance of most of London’s main attractions, such as The London Eye, Trafalgar Square and Big Ben. All year round, people are hunting on Airbnb for a handy location such as this, so Airbnb-ing your home here is likely to be a high revenue driver.
Average Daily Rate: £170
Average Monthly Revenue: £2755
Average Monthly Occupancy: 73%
Booked properties in Westminster in the previous month are 14% of overall booked properties in London
Best performing areas: Warwick and Ecclestone Squares, Vauxhall Bridge Road, Brompton Road, Soho, Edgware Road and north of Hyde Park.
Kensington and Chelsea
Lastly, Kensington and Chelsea showed high demand on Airbnb. Visitors are definitely looking to find a classy place to stay in a classy area, within walking distance from museums, eateries, high-end stores and Hyde Park. If you have a property here, short-letting it for some time could give you a quick, high rental income.
Average Daily Rate: £165
Average Monthly Revenue: £2652
Average Monthly Occupancy: 70%
Booked properties in Kensington and Chelsea in the previous month are 8% of overall booked properties in London
Best performing areas: Portobello Road, Pembridge Gardens, Cromwell Road, Sloane Avenue and Kensington Olympia.