Bradford is the UK’s best city to be an Airbnb host
BRADFORD has been revealed as the UK’s best city to be an Airbnb host, according to new research from the vacation rental company.
Analysis of Airbnb vacation rentals in Bradford and 27 other major UK cities revealed that Bradford is the best place to rent your property to vacationers.
The research, conducted by international payments firm RationalFX, looked at data from Airbnb itself and the Office for National Statistics and found that the combination of low Bradford house prices and high incomes in Airbnb rentals make this the perfect location.
He found that it would only take nine years to pay off the median price of a house in Bradford – £ 135,000 – based on the average monthly income generated by Airbnb in the district – £ 1,229, the best figures for n any city in the country.
And with 83% occupancy rates – the highest in the country – income is steady for hosts and with just 518 Airbnb rentals in the neighborhood, there is room in the market for new hosts to come. involve.
There has been an increase in Airbnb rentals over the past 12 months, triggered by the Covid-19 pandemic, making stays a preferred option for Britons rather than going abroad.
Research has found that 42.7% of people prefer to spend their holidays in the UK, compared to only 24.7% who want to go abroad.
Bradford was followed in the list by Swansea and Stoke-on-Trent as the best cities to make money with Airbnb.
At the other end of the scale is Luton, where Airbnb’s monthly earnings mean it would take 42 years to pay off an average town house. Next came London, where profitability was affected by high house prices and low monthly incomes made it less profitable, especially with occupancy rates below 50%.
Leicester was third, with occupancy rates of just 33% and a monthly income of just £ 600, meaning it would take more than three times as long to cover the cost of property in the city of the Midlands.
Commenting on their study, a spokesperson for Rational FX said, “Demand for stays has increased dramatically over the past year amid the pandemic, showing that the private vacation rental industry is an area of focus. for investment.
“With the easing of restrictions in the UK, it will be interesting to see how Airbnb bookings in the UK compete with the vacation abroad option.”
Airbnb rentals can be booked or properties can be listed by visiting the company’s website or app, and for more information about Rational FX, visit their website.