The UK’s short-term rentals industry made more than £700 million during summer 2023, while locations in London earned the most revenue, according to money website Wealth of Geeks.
Cornwall topped the rankings for nights booked and total revenue. The perennial staycation favourite earned more than £40 million in revenue from 476,910 booked nights, which meant a median house price per night of £117.
Out of the top ten listings, eight were locations in the capital: Westminster, Camden, Hackney, Kensington and Chelsea, Islington, Southwark, Tower Hamlets, and Lambeth.
The only other location outside London to feature in the top 10 was Brighton, with the south-coast town ranked sixth thanks to 134,010 nights booked and revenue of £13.4 million.
The calculations were based on bookings from Airbnb, Booking.com, and Vrbo, with data taken from the Office for National Statistics. The rental prices, meanwhile, were taken from Airbnb across 388 British towns, and the total revenue was calculated by multiplying the number of nights with the nightly cost of a room on Airbnb.
Michael Dinich, from Wealth of Geeks, said: “Holiday rentals play a vital role in the UK’s tourism industry by supporting local economies, providing accommodation to enhance visitor experience, and promoting tourism in diverse regions across the country.
“Tourism also helps to promote awareness of lesser-known areas, helping to distribute tourist spending more evenly across the country.
“While some destinations may experience seasonal fluctuations in tourism often in the summer months, holiday rentals attract visit year-round, helping to sustain economies and businesses during off-peak seasons.”
We hope the government will take note as while it works up a proposal to abolish the furnished holiday lettings tax regime, as announced in the recent spring budget.
The highest-earning short-term rental locations in the UK
Town | Nights | Revenue |
Cornwall | 476,910 | £40,060,440 |
Westminster | 304,790 | £34,441,270 |
Camden | 172,500 | £21,217,500 |
Hackney | 101,140 | £20,430,280 |
Kensington and Chelsea | 167,770 | £18,874,125 |
Brighton and Hove | 134,010 | £13,401,000 |
Islington | 108,250 | £12,665,250 |
Southwark | 104,290 | £11,680,480 |
Tower Hamlets | 161,000 | £11,672,500 |
Lambeth | 98,430 | £11,122,590 |
Dorset | 121,880 | £10,725,440 |
Hammersmith and Fulham | 92,140 | £10,227,540 |
Gwynedd | 122,660 | £10,180,780 |
Scarborough | 102,500 | £9,840,000 |
Liverpool | 127,310 | £9,802,870 |
Birmingham | 109,920 | £9,453,120 |
South Lakeland | 106,450 | £9,367,600 |
Bournemouth | 112,040 | £8,739,120 |
Pembrokeshire | 101,330 | £8,613,050 |
Northumberland | 91,950 | £8,275,500 |
York | 85,080 | £7,487,040 |
Wandsworth | 77,700 | £7,381,500 |
Bristol | 81,700 | £6,372,600 |
Cotswolds | 61,650 | £6,288,300 |
Belfast | 81,700 | £6,054,160 |
Isle of Wight | 70,000 | £5,880,000 |
Bath | 71,190 | £5,766,390 |
North Norfolk | 61,800 | £5,747,400 |
Manchester | 100,480 | £5,727,360 |
South Hams | 64,160 | £5,453,600 |
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