A company selling management services for owners short-letting their properties says there has been a 136 per cent rise in the number of London properties listed on Airbnb for each of the past two years.
A study by My Property Host claims that there were only around 9,000 homes in the capital listed on the platform as recently as January 2015 – but now, 25 months later, there are around 49,000, making London Airbnb’s second biggest market.
The firm claims guest bookings have risen roughly in line with supply, with occupancy levels and average prices broadly tracking each other.
However, the firm says this supply may be at risk if Airbnb – enforcing a London planning restriction imposing a 90-day limit on whole properties being let for short periods of time – carries out its threat to remove listings which appear to be contravening the rule.
Roughly 25,000 – just over half – of the London properties currently listed on Airbnb are entire homes. Last year Airbnb revealed that nearly 5,000 of them had been let out for longer than the 90-day annual limit.
Airbnb’s rule came into force at the start of January, meaning the first landlords could hit the 90-day cap in April. But many more are likely to reach the limit – and be kicked off Airbnb – just as the peak summer tourist season begins, says My Property Host.