Airbnb has seen a 43% jump in listings in the last 12 months, with the number of entire properties on the site totalling over 22,400.
Despite the definite trends where Airbnb is already a success, the findings highlight up-and-coming hotspots around the capital.
Kensington and Chelsea and Tower Hamlets stood out for both the volume of entire properties listed and year-on-year growth. According to AirDNA (analytics and reports based on Airbnb data), Kensington and Chelsea saw a 47% rise in booked listings year-on-year, reaching a total of 2,696 in March 2018. Similarly, the number of booked listings in Tower Hamlets rose by 50% to 2,263 reported in the same month.
The data also showed fast growth in areas beyond Zone 1 and Zone 2 in the last year, with half a dozen boroughs on the Airbnb map. The highest growth was seen by Sutton, which had a 183% growth in booked listings year-on-year. The area currently has 151 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 with useful transport links to Central London.
Portico Host, the Airbnb management service run by London estate agent Portico, has also seen a 54% rise in booked listings year-on-year. Operating in zones 1 to 4, the service has seen significant growth in line with Airbnb in London as a whole.
Mark Lawrinson, regional director at Portico, commented: “Airbnb has become a way of life for most Londoners and isn’t confined to those that are property professionals or landlords.”
He said although Airbnb is a great option for landlords to maximise income during void periods, it is also a useful way for people to make additional income out of their property during work trips away, holidays or just the odd weekend.
“We have seen great take-up on Portico Host, where we take care of everything from the initial rental valuation to the preparation of the property,” Lawrinson continued.
“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.”