The number of landlords with more than 10 Airbnb accommodations listed in London has risen by 8.4 per cent in the past year according to a major property consultancy.
Colliers International, which has conducted new research into the Airbnb sector, says that in 2017 there was a significant increase in the supply of Airbnb accommodation units across London.
Although the single largest proportion of units continue to be held by single property listers, in 2017 over 45 per cent of units in London were provided by multi-listers – those with three or more properties.
Meanwhile the percentage of landlords with more than 10 properties listed in London rose to 23 per cent, an increase of 8.4 per cent over the previous year.
“This rapid growth in multi-listed landlords demonstrates the changing profile of Airbnb from what was originally a platform for individuals to let out their own homes to a profitable commercial venture whereby people are buying residential properties specifically for use as Airbnb accommodation. Now more than ever, regulation is needed … to ensure a fair playing field for hoteliers and landlords alike” says Colin Hall of Colliers.
He says Airbnb saw an increase in bookings in London of 45 per cent in 2017, amounting to almost 6.7m overnight stays. This compares to a 4.6 per cent increase in hotel stays.
Damian Harrington, another Colliers research chief, says: “Although proportionally slightly down on 2016 levels, private rooms remain the most popular type of accommodation amongst Airbnb users in London, representing 41 per cent of all bookings at an average of €63 per night.
“There was, however, an increase in the proportion of bookings for entire homes with one bedroom properties being the most popular choice in 2017. Similarly, although accounting for a smaller proportion of demand, 2017 saw a sharp rise in bookings for entire three and four bedroom homes with average nightly rates considerably higher than the London average.”