Last updated on June 22nd, 2023
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 York 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 York.
Is Airbnb legal in York?
Don’t worry, Airbnb is legal in York! This city in the UK has Roman roots and a Viking past makes everyone who visits it feel as if they are stepping back into the middle ages with the ancient walls surrounding the medieval buildings and streets. Aside from that, York is also a fashionable city that offers plenty of world-class museums, restaurants, bars and other shops.
Here is a little proof! As of May 2022, there are 17,578 nights available in York from Airbnb alone. Stays manages 133 listings, while York Boutique and WelcomeLets operates 87 and 42 respectively.
How much can I make by running an Airbnb in York?
Currently, there are 914 Airbnb listings in York, with 71% of entire houses earning up to £3,039 a month. The Average Occupancy Rate in York is 56% and the average daily rate is £196. According to short-term rental market data source Airbtics, a 2-bedroom apartment in York can make up to £48,318 each year. Check out our Airbnb Calculator to know how much profit can you make while doing short-term rentals!
Short-term rental policy in York, UK
- You need planning permission if you let your property for a series of short periods that add up to more than 90 nights during any calendar year.
- You may pay less council tax for a property you own or rent that’s not your main home. Councils can give furnished second homes or holiday homes a discount of up to 50%.
Buy to Let in York
Having a buy-to-let property in York is a practical investment because it is a student city offering landlords opportunities to invest in student accommodations. York is also one of the few areas where you can purchase affordable properties.
Source: Rental Property York
Property Investment in York
If you are looking to start an Airbnb business in the UK, particularly in York, you have to consider which areas are the most profitable. Whether it is located in the city centre or in the countryside, knowing your estimated annual revenue and high-return investment opportunities is important. Using an accurate short-term rental calculator, it shouldn’t be a difficult task at all!
Rental Properties in York
Once you have decided to buy a property, you have to consider the average price, population, nearby landmarks or attractions, and rental yields to expect – among the rest. It could be a challenge to find rented properties in York, so here are some of the most recommended areas that you can look into & consider purchasing:
| Area | Population | Average House Price | Average Rent Price (pcm) | Average Airbnb Revenue | Yields |
|---|---|---|---|---|---|
| City Centre | 9,500 | £306,000 | £1,502 | £3,426 | In the YO1 postcode area, the yields are 4.4% |
| North York | 67,000 | £260,000 | £1,242 | £2,575 | Yields here, in the YO30, YO31 and YO32 postcode areas, are between 4.4% and 5.3% |
| East York | 50,500 | £189,860 | £674 | £1,616 | 4.7% yields are possible in YO10 although a student let should earn more |
Source: Rental Property York
Investment Property for Sale in York, UK
Buying a property in York with an impressive rental yield is an excellent way to have a passive income, considering it’s one of the affordable cities in England to buy a property. By looking at the following property investment websites such as Right Move & News Now, you can get a grasp of the various prices in York.
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!
