Last updated on December 13th, 2022
If you are looking to buy investment properties in the UK, knowing the Airbnb rules in your preferred city is the first step! In this article, we featured Airbnb regulations in Devon along with short-term let policies, buy to let properties, things to consider in property investment, and more. Continue reading and learn more about the Airbnb rules in Devon!
Is Airbnb legal in Devon?
Don’t worry, Airbnb is legal in Devon! This diverse county is located in southwest England and is well-known as a top-notch holiday destination. Devon offers some of England’s most stunning natural landscapes, as well as a variety of great cultural and historical attractions.
Here is a little proof! As of May 2022, there are 113,237 nights available in Devon from Airbnb alone. Cottages,Com manages 558 listings, Marsdens Devon Cottages and Luxury Coastal operate 108 and 76 respectively.
How much can I make by running an Airbnb in Devon?
Currently, there are 6,259 Airbnb listings in Devon, with 77% of entire houses earning up to £2,693 a month. The Average Occupancy Rate in Devon is 48% and the average daily rate is £181. According to short-term rental data source Airbtics, a 2-bedroom apartment in Devon can make up to £30,835 each year. Check out our Short-Term Rental Profit Calculator to know how much can you make on Airbnb!
Short-term rental policy in Devon
- The Council of Devon will regard bed and breakfast hotels as HMOs if they are housing any people who use the hotel as their main residence for more than 30 consecutive days. Where this accommodation is used as the main residence, the same standards as for other HMOs should be met.
- Homeowners in Devon are allowed to rent out their properties for short-term lets without planning permission for up to 90 nights a year.
Investment Property in Devon
- If you are looking to start an Airbnb business in the UK, this is your go signal to do so! Before investing in a property in Devon, you have to consider the major determinators for success. This includes average price, population, nearby landmarks or attractions, and rental yields to expect – among the rest. Here are the recent property prices in Devon:
Source: Buying Property in Devon
Here are some of the most recommended areas in Devon that you can look into & consider purchasing:
|Area||Population||Average House Price||Average Rent Price (pcm)||Average Airbnb Revenue||Yields|
|Exeter||130,000||£261,808||£1,396||£1,989||Yields in Exeter itself are typically around 3% to 4%|
|Plymouth||234,900||£224,529||£690||£1,659||Yields are tight at around 3% (based on BS8 postcode)|
|Torquay||65,200||£259,944||£1,233||£1,983||These areas offer yields around 4% in BS7 and BS9, although BS6 could return 6-7%, particularly for a student let|
Rental Properties in Devon
Buying a property in Devon with an impressive rental yield is an excellent way to have a passive income. According to County Homesearch, Devon is widely considered one of the best areas to buy a holiday home in the UK because of its proximity to beautiful national parks (Dartmoor & Exmoor). By looking at the following property investment websites such as Stephens Scown and Bruton Knowles, you can get a grasp of the various prices in Devon.
Rental Property in South Devon
Based on a recent property analysis in Devon, its coastal towns have increased prices in all of England. Over the last year, the average house prices in South Devon is at £279,694. As seen on this rental property in South Devon, you can rent a property for as low as £620.
Rental Property in Paignton
Paignton is the safest major town in Devon according to UK’s official crime rate. However, the towns of Paignton & Goodrington are among the fastest-rising house prices in Devon with an 11% increase in asking price. As seen on this rental property in Paignton, you can rent a property ranging from £975 – £1,400.
Rental Property in Torquay
Torquay has recorded a compound growth rate of 9% over the past few years. Known as a popular tourist & retirement property, Torquay is popular with investors for its excellent value buy-to-lets and house shares. The average house price in this town is £201,893. As seen on this rental property in Torquay, you can rent a property for as low as £850.
In my personal opinion, the biggest advantage of running a short-term rental is high return! I’ve talked to hundreds of Airbnb hosts over the past years and frequently met hosts making 15 – 30% gross rental yields, and 10-20% net. It’s also fun to do!
Robyn is a passionate content writer about short-term rentals and is dedicated to research & sharing property investment strategies and analysis worldwide. She is a graduate of Alliance Française de Manille, a songwriter, an animal advocate, and an avid fan of The Beatles since birth.