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 Newcastle 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 Newcastle!
Is Airbnb legal in Newcastle?
Don’t worry, Airbnb is legal in Newcastle! Without a doubt, this vibrant city has the most exciting nightlife in the North East of England. But not only that because it also has a variety of top-notch cultural & natural attractions.
Here is a little proof! As of May 2022, there are 6,041 nights available in Newcastle from Airbnb alone. Dream manages 32 listings, Properties Unique and Ryan operates 20 and 18 respectively.
How much can I make by running an Airbnb in Newcastle?
Currently, there are 302 Airbnb listings in Newcastle, with 54% of entire houses earning up to £2,496 a month. The Average Occupancy Rate in Newcastle is 47% and the average daily rate is £239. According to short-term holiday rental data source Airbtics, a 2-bedroom apartment in Newcastle can make up to £32,392 each year. Check out our Airbnb Income Calculator!
Short-term rental policy in Newcastle
- Energy Performance Certificates (EPC’s) are needed whenever a property is built, sold, and rented. A holiday accommodation that’s rented out for less than 4 months a year or is let out under a licence does NOT need an EPC.
- It is required to pay Council tax in Newcastle.
- Any property with five or more people who form unrelated households, and share amenities such as a kitchen or bathroom, must have an HMO licence. Learn more about an HMO licence in Newcastle.
Property Investment in Newcastle
Before investing in a property in Newcastle, you have to consider the major determinators for success. This includes the median price paid, population, nearby landmarks or attractions, and the asking amount for rent to expect – among the rest.
Source: Newcastle Investment
Rental Properties in Newcastle
Buying a property in Newcastle with an impressive rental yield is an excellent way to have a passive income. Due to this city’s strong reputation in banking & excellent track record in overseas investment, property investors in this city are aiming to buy more properties. By looking at the following property investment websites such as Your Move & On The Market, you can get a grasp of the various prices in Newcastle.
Conclusion
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!
