Top 10 Airbnb Markets in the UK in 2024

As an Airbnb host in the United Kingdom, you're always on the lookout for the best locations to maximize your rental income. With its rich history, vibrant cities, and stunning landscapes, the UK offers lucrative markets for savvy hosts. From bustling London to scenic Edinburgh, 2024 highlights hotspots with high occupancy rates and attractive rental yields. Dive into the top Airbnb markets and discover where to invest for the best returns.

Ready to boost your profits and attract more guests? Discover the top 10 Airbnb markets in the UK this year. Whether you're a seasoned host or a newcomer, these hotspots could be your key to success. Find out where to invest and why these locations are attracting savvy hosts and eager travelers.

Are Vacation Rentals in the UK a Good Investment?

Investing in Airbnb properties in the UK is lucrative and rewarding. Cities like London, Edinburgh, and Manchester attract high demand from tourists, business travelers, and students, ensuring a steady income stream. Airbnb properties offer substantial rental income, long-term appreciation and diversification for your portfolio.

Owning an Airbnb property also provides personal enjoyment and tax benefits. With the right location and management, they can yield significant returns.

According to Statista, the UK's vacation rentals market is projected to reach $4.68 billion by 2024, growing to $4.73 billion by 2028. User numbers will rise to 16.59 million, with 78% of revenue coming from online sales. There's increasing demand for rural properties as travelers seek nature escapes.

Top 10 Airbnb Markets in the UK in 2024

1. London, England

London is a top vacation rental destination, combining historical landmarks with modern attractions, ideal for an urban getaway in the UK.London boasts a variety of rental properties, from chic city apartments to charming townhouses, all set against the backdrop of iconic sites like the Tower of London, Buckingham Palace, and the bustling West End. This diversity ensures that visitors have a memorable and comfortable stay.

According to Mastercard's Global Destinations City Index, London saw 19.2 million overseas visitors in 2023. The forecast for 2024 is for 25.1 million visitors and £13.9 billion in spending.

In addition to its year-round appeal and cosmopolitan atmosphere, London is an excellent place to invest in vacation rental properties, catering to both tourists and business travelers.

According to AirDNA statistics, for London are as follows, 

• Projected Annual Revenue  £126K

• Occupancy rate 75%

• Average Daily Rate £463

2. Edinburgh, Scotland

Edinburgh, Scotland, is a popular vacation rental destination known for its medieval architecture and vibrant festivals. It offers a range of short-term rentals, including quaint Old Town apartments, modern city center condos, and elegant townhouses in New Town. 

Popular areas for these rentals are the historic Old Town, the stylish New Town, and the bustling Leith district. Visitors can enjoy landmarks like Edinburgh Castle and the Royal Mile, ensuring a memorable stay. 

Edinburgh, with a city population of nearly 500,000 and 1.6 million regionally, is a major tourism center. It welcomes over 4 million visitors annually, contributing £1.2 billion to the local economy. With its year-round festivals and timeless charm, Edinburgh is an ideal investment for short-term vacation rental properties, drawing tourists year-round. 

According to AirDNA statistics, for Edinburgh are as follows, 

• Projected Annual Revenue  £18.1 K

• Occupancy rate 70%

• Average Daily Rate £71

3. Manchester, England

Manchester is a popular vacation rental destination thanks to its thriving cultural scene and rich industrial heritage.Whether you're looking for an apartment in the city center or a spacious house near Old Trafford or the Museum of Science and Industry, Manchester has a wide variety of rental properties.

In the last quarter of 2023, Manchester Central saw a 132% rise in visitors, contributing £35.6 million to the local economy. With 85 major events scheduled for 2024, Manchester is set to become the UK's leading events capital, expecting its biggest year yet in inbound tourism.

Manchester attracts year-round tourists with its cultural events, music festivals, and sports. Its growing business sector drives constant demand for short-term rentals. The city's excellent transport links and ongoing development projects enhance its appeal, making Manchester a prime destination for vacation rental investments.

According to AirDNA statistics, for Manchester are as follows,

• Projected Annual Revenue  £53.2K

• Occupancy rate 60%

• Average Daily Rate £243

4. Bath, England

Bath, is renowned for its Roman history and Georgian architecture and is a top destination for short-term rentals. 

There is a wide selection of popular rental properties in the city, including elegant Georgian townhouses, charming Victorian terraces, and modern apartments near the Roman Baths.

Because of its year-round tourism and historical charm, Bath is one of the most popular tourist destinations in the UK, receiving approximately 6 million visitors annually. The city's diverse housing options cater to history enthusiasts, spa lovers, as well as tourists seeking both luxury and quaint accommodations.

According to AirDNA statistics, for Bath are as follows,

• Projected Annual Revenue  £64.6K

• Occupancy rate 68%

• Average Daily Rate £261

5. Brighton, England

A lively coastal city, Brighton is a top vacation rental destination. It offers a vibrant arts scene and seaside charm, making it an attractive choice for those seeking a beachside getaway close to London.

Brighton provides a variety of rental properties from quirky beachfront apartments to stylish homes near the bustling lanes. This diversity ensures visitors have a memorable and comfortable stay.

Brighton boasts a thriving rental market, particularly for properties close to the beach, offering diverse options from apartments to houses. Investing in Brighton is considered lucrative due to its robust property market, Brighton's proximity to London and vibrant cultural events make it an ideal vacation rental property destination for weekenders and international tourists.

According to AirDNA statistics, for Brighton are as follows,

• Projected Annual Revenue  £50.5K

• Occupancy rate 53%

• Average Daily Rate £259

6. Glasgow, Scotland

Known for its vibrant city experience, Glasgow, Scotland, is a popular vacation rental destination, boasting a unique mix of Victorian architecture and contemporary culture.

Investing in vacation rental properties in Glasgow is an excellent idea, as the demand for short-term rentals is consistently high. There are a number of rental options in the city, ranging from modern city apartments to traditional flats in trendy neighborhoods to charming Victorians. Due to these factors, visitors to the city can enjoy its rich cultural offerings and major shopping districts. 

The city's strong tourism sector, which attracts 2.65 million visitors annually, makes it a great place to invest in vacation rentals. Aside from its robust infrastructure and excellent transport links, the city's numerous cultural events, music festivals, and sporting activities enhance its appeal. 

Its dynamic atmosphere and diverse accommodation options cater to a wide variety of travelers. In the Glasgow 2030 Tourism Strategy, the city aims to further boost tourism value, benefiting visitors, businesses, communities, and the environment.

According to AirDNA statistics, for Glasgow are as follows,

• Projected Annual Revenue  £55.5K

• Occupancy rate 66%

• Average Daily Rate £231

7. Oxford, England

Known for its collegiate charm and picturesque surroundings, Oxford is a popular tourism destination.

The city offers a variety of rental properties to meet the high demand, including charming cottages near the university, modern city-center apartments, and elegant townhouses in historic neighborhoods. 

Oxford is the tourism gateway to Oxfordshire, attracting approximately 7 million daytime and staying visitors annually, generating £780 million for local businesses. As the ninth most visited city in the UK for overseas visitors in 2021, Oxford presents an excellent opportunity for investing in vacation rental properties. The steady demand from both academia and history enthusiasts makes it a lucrative market for short-term rentals.

According to AirDNA statistics, for Oxford  are as follows,

• Projected Annual Revenue  £86.1K

• Occupancy rate 76%

• Average Daily Rate £ 309

8. Liverpool, England

Liverpool, with its rich maritime history, is a prime destination for short-term rentals. The city's vibrant cultural scene and musical heritage make it an attractive choice for those seeking a dynamic urban experience.

Demand for short-term rentals is high, with properties ranging from contemporary apartments near the Albert Dock to historic homes close to The Beatles Story. 

Liverpool's famous landmarks and lively arts scene make it an excellent place to invest in vacation rental properties, attracting both music lovers and history buffs. In 2023, the city's tourism sector saw a rise in visitor numbers, surpassing the 2018 figure of 5.48 million visitors. Additionally, Liverpool is set to host the UKiCon24 conference, focusing on 'future-proofing' tourism, further boosting its appeal as a top rental market.

According to AirDNA statistics, for Liverpool  are as follows,

• Projected Annual Revenue  £47.7K

• Occupancy rate 44%

• Average Daily Rate £294

9. York, England

York, steeped in medieval history, is a prime destination for short-term rentals. The city boasts an array of historical sites and a vibrant cultural scene, making it an attractive choice for those seeking a historical getaway.

York offers a variety of rental properties, from historic homes near the city walls to family-friendly apartments in the city center. Historical landmarks like York Minster and the Shambles make the city an attractive holiday let destination.

With 8.9 million visitors annually contributing £1.7 billion to the local economy, York's strong year-round tourism and historical significance make it an ideal place to invest in vacation rental properties, appealing to both history enthusiasts and families.

According to AirDNA statistics, for York  are as follows,

• Projected Annual Revenue  £60.2K

• Occupancy rate 69%

• Average Daily Rate £239

10. Bristol, England

Bristol, England, is a top vacation rental destination and a creative and cultural hub. The city offers a vibrant mix of street art, innovative cuisine, and historical landmarks, making it an attractive choice for those seeking a dynamic urban retreat.

Bristol features a range of rental properties, from stylish city-center lofts to charming homes in neighborhoods like Clifton.

Tourism in Bristol is on the rise, with forecasts of 21.1 million inbound visits and £16.9 billion in spending for the UK.. It ranks as the 8th most visited city in the UK by international visitors, with international stays making up 25% of staying trips, 49% of all nights, and 47% of all staying visitor spend.

Bristol also hosts 11 annual international film festivals, offering diverse and dynamic events that attract local, national, and international audiences.

With its growing popularity among young professionals and tourists, Bristol is an excellent place to invest in vacation rental properties, catering to a diverse array of travelers.

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According to AirDNA statistics, for Bristol  are as follows,

• Projected Annual Revenue  £51.3K

• Occupancy rate 59%

• Average Daily Rate £239

Tip on How to Maximize Your Airbnb Success

Navigating the UK Airbnb market takes more than a great location. Here are tips to stand out, 

1. Exceptional photography

High-quality photos can make your listing more appealing. Invest in professional photography to showcase your property at its best.

2. Detailed descriptions

Write engaging and detailed descriptions of your property, highlighting unique features and nearby attractions.

3. Responsive communication 

Prompt and friendly communication can enhance guest satisfaction and lead to positive reviews.

4. Cleanliness and comfort

Ensure your property is spotless and comfortable. Little touches like fresh flowers or a welcome basket can make a big difference.

5. Competitive pricing

Research similar listings in your area to set a competitive price. Adjust your rates based on demand and seasonality.

How Airbnb Management Software can help you

As your Airbnb portfolio grows managing multiple listings can be challenging. Hostaway, a top Airbnb management software, simplifies this with a centralized dashboard, automated messaging, dynamic pricing, a channel manager and detailed analytics. It streamlines operations, improves guest satisfaction and boosts revenue, making it an essential tool for successful hosting.

Hostaway can help you streamline your operations, improve guest satisfaction and increase your revenue. Investing in the right tools can significantly impact your success as an Airbnb host.

Maximizing Success in the UK’s Top Airbnb Markets

The UK offers abundant opportunities for Airbnb hosts in 2024. By targeting the top markets and using tools like Hostaway, you can enhance your hosting experience and achieve greater success. 

From bustling London to charming York, a lucrative market awaits you. Invest strategically, and for seamless property management, consider Hostaway. It can streamline operations, optimize pricing and boost guest satisfaction, ultimately increasing your rental income. Happy hosting!