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 Norfolk 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 Norfolk!
Is Airbnb legal in Norfolk?
Don’t worry, Airbnb is legal in Norfolk! This county is famous for its picturesque sandy beaches, wild swamps, and many other beautiful places to explore. In addition to this, Norfolk has a variety of amusement parks, museums, theaters, and plenty of medieval buildings.
Here is a little proof! As of May 2022, there are 58,935 nights available in Norfolk from Airbnb alone. Cottages,Com manages 400 listings, Norfolk Hideaways and 2cHolidays operate 338 and 241 respectively.
How much can I make by running an Airbnb in Norfolk?
Currently, there are 3,315 Airbnb listings in Norfolk, with 81% of entire houses earning up to £2,695 a month. The Average Occupancy Rate in Norfolk is 50% and the average daily rate is £276. According to short-term rental properties data source Airbtics, a 2-bedroom apartment in Norfolk can make up to £28,955 each year. Discover how much income can you get on Airbnb with our Free Short-Term Rental Calculator.
Short-term rental policy in Norfolk
- If the total of all lettings that exceed 31 continuous days is more than 155 days during the year, then your property will not continue to be a Furnished Holiday Let for that year.
- Your property must be available for letting as furnished holiday accommodation letting for at least 210 days in the year. The creation of a six-month tenancy would compromise this regulation.
Investment Property in Norfolk
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 Norfolk, 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 Norfolk’s property market insights that you can look into & consider purchasing:
Source: Norfolk Property
| Area | Average House Price | Average Rent Price (pcm) | Average Airbnb Revenue | Yield |
|---|---|---|---|---|
| Norwich | £268,977 | £1,330 | £1,850 | 4,9% |
| Dereham | £242,723 | £763 | £2,076 | 4,4% |
| King’s Lynn | £194,768 | £725 | £1,276 | 5,6% |
Source: Buy to Let Areas in Norfolk
Property For Sale in Norfolk
Buying a property in Norfolk with an impressive rental yield is an excellent way to have a passive income. The average house price in North Norfolk ranges at £307,000. Norfolk has been a desirable location for property investors because of its seaside locations & excellent transport links. By looking at the following property investment websites such as Zoopla and On The Market, you can get a grasp of the various prices and properties for sale on Norfolk.
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!
