Landlords in the borough who let out their home through Airbnb enjoy an average occupancy rate of 94%, with Tower Hamlets’ combination of good transport links and competitive nightly rates propelling it to the top of London’s first Airbnb league table.
Neighbouring Hackney, which includes trendy Stoke Newington and Shoreditch, is the second most popular borough with an average occupancy rate of 90%. Third place is taken by Kensington and Chelsea, which though more expensive is perennially popular with tourists and boasts an occupancy rate of 87%.
London’s top 10 Airbnb hotspots
|
Rank |
Borough |
Average occupancy rate* |
|
1 |
Tower Hamlets |
94% |
|
2 |
Hackney |
90% |
|
3 |
Kensington and Chelsea |
87% |
|
4 |
City of London |
86% |
|
5 |
Highbury and Islington |
83% |
|
6= |
Hammersmith |
80% |
|
6= |
Camden |
80% |
|
8 |
Westminster |
75% |
|
9 |
Southwark |
74% |
|
10 |
Lambeth |
70% |
The past year has seen an explosion in the number of visitors to London booking accommodation through Airbnb, and in the number of landlords letting out their homes this way.
Planning regulations limit London homeowners to letting their property to short-term guests for no more than 90 days in a year. The high occupancy rates recorded across the capital suggest demand and supply are evenly matched – making it essential that Airbnb hosts price their home correctly and earn good reviews to attract bookings.
My Property Host is a property management service that handles every aspect of letting out a property on Airbnb. It takes care of everything, from creating the advert to taking bookings, greeting guests and cleaning up afterwards.
Elena Lopez, My Property Host managing director, comments: “Letting out your property through Airbnb is a quick and efficient way to make some short-term income, and the high occupancy rates across London show the strength of demand from visitors. Tower Hamlets and Hackney consistently have the highest occupancy rates, with hosts there able to let their properties nearly every night they want to.
The popularity of these two boroughs is down to their combination of good transport links, trendy reputation and competitive nightly rates – factors which are prized by millennials, the people most likely to book an Airbnb stay.
But as Airbnb’s popularity increases among families and business travellers, the map of Airbnb hotspots is likely to be redrawn. Larger homes in zones 2 and 3 will appeal more to families, and we expect properties in the City of London to do well as corporate travellers embrace Airbnb as an alternative to faceless hotels.”
