Would You like a feature Interview?
All Interviews are 100% FREE of Charge
Owners in Cornwall earned an average of £40,060,440 in summer 2023 rental fees. Wealth of Geeks analysis reveals that it is now the most profitable region to own such rental properties.
Cornwall’s population is around 565,968, but the town received three times as many holidaymakers last summer, with the average nightly price for a room being £84 and the standard price for a house being £117.
A spokesperson for Wealth of Geeks said: “According to our data, in the summer of 2023, holiday rentals in the UK generated approximately £739,211,390 in revenue.
“Holiday rentals play an important role in the UK tourism industry by supporting local economies, providing accommodation that enhances the visitor experience and promoting tourism in different parts of the country.
“Tourism can also help raise the profile of lesser-known regions and help distribute tourist spending more evenly across the country.
“While some destinations often experience seasonal fluctuations in tourism during the summer months, vacation rentals attract tourists year-round, helping to sustain the economy and business during the slow season. .”
Westminster was the second biggest earner, earning an average of £34,441,270 over the three months of summer 2023.
Rooms in Westminster cost around £113 a night, flats £147 and houses £435, which generated 304,790 nights last summer.
Camden ranks third in profitability with 172,500 nights. The town earned an average of £21,217,500 in his 2023 summer.
A room in Camden costs around £123 per night, a flat £156 and a house £140.
rank | position | night | Median price per night (room) | Median price per night (residential) | Median price per night (apartments) | Location revenue (Number of nights x Price per night) |
1 | cornwall | 476,910 | £84 | £117 | £113 | £40,060,440 |
2 | westminster | 304,790 | £113 | £435 | £147 | 34,441,270 pounds |
3 | camden | 172,500 | £123 | £140 | £156 | 21,217,500 pounds |
Four | hackney | 101,140 | £202 | £204 | £127 | 20,430,280 pounds |
Five | kensington and chelsea | 167,770 | £113 | £115 | £145 | 18,874,125 pounds |
6 | brighton and hove | 134,010 | 100 pounds | 100 pounds | £128 | 13,401,000 pounds |
7 | islington | 108,250 | £117 | £255 | £173 | 12,665,250 pounds |
8 | southwark | 104,290 | £112 | £116 | £131 | 11,680,480 pounds |
9 | tower hamlets | 161,000 | £73 | £166 | £169 | 11,672,500 pounds |
Ten | lambeth | 98,430 | £113 | £440 | £136 | 11,122,590 pounds |