According to freshly released figures, demand for Airbnb lodging has sagged, resulting in rental listings rising throughout UK cities.
The information reveals that London has actually seen a typical 112% rise in readily available buildings, compared with the very same duration last year.
One as well as 2 bedroomed properties observed the biggest leap is listings, 132% and also 105% respectively in mid-March. Rightmove have actually additionally recorded an enter rental listings in Central London throughout the lockdown, while tourist cities such as Bathroom have seen an increase of 78%, followed by Edinburgh (62%) and also Brighton (55%).
While the lockdown is being lifted for the temporary let industry on July 4 2020, Airbnb and also other systems encounter rigorous cleansing procedures to adjust with UK federal government assistance.
Mish Liyanage, Managing Director of The Mistoria Group, comments: “Analysis by the Guardian has identified that in some parts of the UK, there is an Airbnb listing for every four homes.
“The highest incidence of Airbnbs was in Edinburgh Old Town, where there were 29 active listings for every 100 properties. In one area of the Lake District: Windermere North, Ambleside and Langdales, there were 19 listings per 100 properties.
“This huge growth of online holiday lettings is depriving communities of much-needed homes, especially in areas where there is a large waiting list for accommodation. This problem is mainly prevalent in large cities such as London, Manchester, Birmingham. Recent figures from the BBC’s Housing Briefing estimate that we have built 1.2 million fewer homes than we should have and the need for more homes is increasing. The calculations suggest it will take at least 15 years at current building rates to close the gap, and that not enough of what is being built is affordable.
“We are seeing increasing tenant demand for property in the North West, particularly for professional and student accommodation. HMOs in Liverpool, Salford and Bolton have become very popular with investors, as they can acquire a high quality, three-bed HMO which houses three students, from £120,000 upwards.
“The return on investment is very attractive too, with 13% (8% cash rental and 5% capital growth). The gross rent will be between £368-500 pcm per room. Larger rooms, open plan living and kitchen areas, ensuites, TVs, unlimited broadband, premium kitchen appliances and furnishings are the type of features that help to generate a high yielding HMO.â€