For some real estate investors, renting out a home as a vacation or short-term rental has proven incredibly successful. This practice has grown in popularity due to modifications to the buy-to-let tax and the emergence of competitors like Airbnb. But what part of the UK is the ideal location for real estate investments? The UK destinations listed below could benefit you as a potential host on Airbnb.
The charming Victorian spa town of Harrogate is located in North Yorkshire. Famous for its rich mineral water, the city had a surge of tourists throughout the Victorian and Georgian eras, which added to its riches. Beautiful Victorian structures can still be seen around the town centre, and the historic Royal Pump Room and wells are still very much a part of how the town is shaped, demonstrating its legacy. In addition, Harrogate’s town centre is surrounded by green areas, such as The Stray and Valley Gardens, and is just one of the reasons the city routinely ranks first on Rightmove’s list of the happiest places in the UK. Seven times, including in 2022, Harrogate has appeared in The Times Best Places to Live list, demonstrating the positive perception of the city.
Where is the best place to list your holiday property? As expected, Manchester is on the list!
Manchester, one of England’s liveliest cities, has abundant dining options, creative opportunities, and interesting architecture. Manchester United, one of the most well-known football clubs in the world, is also located there. The city comes alive at night with its trendy bars serving great drinks and artisan beer. It is home to a thriving cultural scene and hosts the Manchester Christmas markets and has designer department stores, main street shops, and small boutiques to appeal to all types of shoppers. It makes a fantastic starting point for adventurous tourists who would love to explore the nearby moors, mountains, coasts, and lush forests.
Manchester has had a lot of good coverage in recent years from periodicals like Lonely Planet and the New York Times, which have commended it as a top tourist destination. Manchester is a popular tourist destination because of its many art galleries and theatres, diversified nightlife, and world-class athletic facilities. As a result, the short-let business is flourishing!
There are currently 3853 listings on Airbnb in Manchester, with 37% managed by pros and 63% handled independently. 45% of full homes make up to £2,289 per month.
Margate, in the lovely county of Kent, has grown popular because of its top-notch amenities. Margate residents have fantastic access to public transportation throughout Kent County and even into London. So, it is understandable why many investors and purchasers are drawn to the area. One of the greatest rates of new tourists arriving each year is in Margate. Dreamland, the oldest theme park in the UK, reopened in 2015 to roughly double-yearly visitor counts. However, the town is now suffering from an out-of-control housing crisis due to its prosperity. The town’s beautiful Victorian homes are being purchased at a startling rate, either by Londoners looking to leave the city or by private landlords renting them out to travellers during the busiest months.
York! With its old walls enclosing the buildings and streets, this city in the UK with Roman and Viking roots gives everyone who visits the impression that they are travelling back in time. In addition, York is a chic city with a wealth of top-notch galleries, eateries, bars, and other retail establishments.
There are currently 914 listings for Airbnb in York, with 71% of whole homes earning up to £3,039 per month. In York, the average occupancy rate is 56%, and the daily average price is £196. According to the short-term rental market data provider Airbricks, a two-bedroom flat in York can bring in up to £48,318 annually. Here’s some evidence! 17,578 nights are now available on Airbnb in York as of May 2022. Among the listings managed, York Boutique has 87, Stays has 133, and WelcomeLets has 42. Since York is a student city and provides landlords with options to invest in student housing, owning a buy-to-let property is a wise investment. It is also one of the few places where you can buy reasonably priced properties.
Wakefield, which is only a short distance from Leeds, is a great commuter town with affordable housing costs, city conveniences, and a rich history. Wakefield offers nightlife and entertainment for young professionals while maintaining a family-friendly image where parents have a wide variety of top-performing schools and universities, providing a small piece of heaven for everyone. This is one of the reasons is a choice pick for tourists and visitors, and a great place for you to invest your property.