Discover the best places to invest in Airbnb in Sheffield and enjoy a rewarding investment experience. Learn more about this market here!
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Discover the best places to invest in Airbnb in Sheffield and enjoy a rewarding investment experience. Learn more about this market here!
- Last updated January 31, 2024
Key Takeaways
- Sheffield can be an attractive city for investors since it offers a real estate market that fills the needs of investors while providing a good return on investment.
- Find out the top rental markets in Sheffield and nearby cities along with their recommended property types, average Airbnb revenue, GRY and more reliable data provided by Airbtics.
Introduction
The historical city of Sheffield is situated in South Yorkshire, at the eastern foothills of the Pennines and the valleys of the River Don which provides views of striking green landscapes. This destination offers unique experiences to everyone who ventures into its vibrant streets as it’s filled with sites of interest.
Nowadays, Sheffield is an important educational, technology and cultural center with a steady housing demand, which helps to provide a more favorable return on investment. On top of that, Sheffield is among Airbnb’s top trending travel spots for 2023 domestic travel in the UK.
But before making a crucial decision, it’s important to set clear goals to guarantee your investment success, especially if you are considering investing in the Sheffield rental market.
In this article, with the help of Airbtics Dashboard, we gathered the best places to invest in Airbnb in Sheffield. We also mention some of the main reasons why you should consider buying to let in this city. Stoked to learn more? Then continue reading!
Why should you consider investing in short-term lets in Sheffield?
Buying investment properties in Sheffield is truly a great way to generate a nice rental income. Yet, researching the market carefully is crucial when thinking about investing in Airbnb. Hence, it’s always good to know what kind of advantages the rental market of your target city can offer to real estate investors.
If you want to target Manchester’s real estate market, then make sure to check out some of the reasons why investment properties in this city can help you build your path toward financial freedom:
Stable economy
Sheffield owns a diversified and prosperous economy with a strong job market and steady demographic growth. The key industries are those related to advanced manufacturing, creative industries, education, healthcare, tourism and the financial sectors.
Furthermore, considering that Sheffield is a university city, there’s a huge student population that opens the doors to strong demand for rental properties. Thus, if you’re considering doing a student accommodation investment, then Sheffield is a target that you should keep in mind.
Great quality of life
Imagine living in a city filled with lively streets, stunning green areas and fascinating cultural attractions. Sheffield offers you the possibility of enjoying all of these aspects and much more! The city has modern infrastructure with a reliable transport system, great educational institutions, and plenty of commercial and residential spaces. Moreover, Sheffield has excellent connectivity at both domestic and international levels.
This city is also considered one of the most affordable cities to live in the UK. The property prices vary greatly depending on the area, but overall, the median value is £243,247.
No shortage of leisure options
Sheffield is highly known for its thriving artistic and cultural scene. The city is home to a variety of art galleries, theaters, exhibition halls and museums. Moreover, it also hosts exciting festivals, events and concerts that attract a large visitor influx throughout the year.
If you’re an outdoor enthusiast, you will also love Sheffield as there’s no lack of green areas. The Peak District National Parl is also located near the city, allowing locals and visitors alike to enjoy stunning views and outdoor activities like climbing, hiking and biking.
Is the Sheffield rental market profitable for Airbnb?
Operating a successful Airbnb listing that can provide a favorable return on investment is not an unreachable dream anymore! Airbtics confirms that short-term lets in Sheffield can help you earn a nice income stream. In fact, this city is one of the top profitable Airbnb cities in the UK!!
According to Airbtics’s data, Airbnb hosts can earn an average annual revenue of £33,617 with a median occupancy rate of 48% for operating a 1-bedroom apartment in Sheffield.
Aside from the amount of profit that a listing can create, it’s also essential to learn about the Airbnb regulations in Sheffield. This way you will be able to operate your listing without breaching the rules. But, if you’re still uncertain about purchasing a property for rent, you can also test the waters by doing rental arbitrage in Sheffield, which is a legal practice in the city.
Source: Airbtics Dashboard
Best Buy to Let Locations in Sheffield
It’s normal to feel overwhelmed when trying to choose the right location to set up an Airbnb business in Sheffield as the level of profitability differs in each area. Maybe just thinking about how time-consuming this task is can give you a headache. But we have good news for investors like you because finding out where to invest is now easier if you make use of trustworthy analytics tools like Airbtics.
Of course, you don’t have to take just our word for it – But take a look at our customer Simon who was led to a new Airbnb market that was more profitable than his original one!
Check out the best locations in Sheffield to invest in property and are recommended for starting an Airbnb business:
Best Area | Number of Airbnb Listings | Best Bedroom Size | Median Property Price | Airbnb Annual Revenue | GRY |
---|---|---|---|---|---|
Whirlow | 22 | 1 bedroom | £140,000 (1 BD) | £17,846 | 12.75% |
Netherthorpe | 41 | 1 bedroom | £140,000 (1 BD) | £17,002 | 14.78% |
Sheffield City Centre | 77 | 1 bedroom | £87,000 (1 BD) | £14,643 | 16.83% |
Best Area
Airbnb Dataset
1. Whirlow
- Total Number of Airbnb Listings: 22
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): £140,000
- Airbnb Annual revenue: £17,846
- Gross rental yield: 12.75%
2. Netherthorpe
- Total Number of Airbnb Listings: 41
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): 115,000
- Airbnb Annual revenue: £17,002
- Gross rental yield: 14.78%
- Total Number of Airbnb Listings: 77
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): £87,000
- Airbnb Annual revenue: £14,643
- Gross rental yield: 16.83%
3 Best Places Outside Sheffield to Invest in Airbnb
City | Number of Airbnb Listings | Best Bedroom Size | Median Property Price | Airbnb Annual Revenue | GRY |
---|---|---|---|---|---|
Manchester (52km away) | 768 | 2 bedrooms | £200,000 (2 BD) | £19,831 | 9.91% |
Nottingham (60km away) | 348 | 1 bedroom | £100,000 (1 BD) | £18,537 | 18.54% |
Leicester (86km away) | 177 | 2 bedrooms | £125,000 (2 BD) | £27,700 | 22.16% |
City
Airbnb Dataset
1. Manchester
- Distance from Sheffield: 52 kilometers
- Total Number of Airbnb Listings: 768
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): £200,000
- Airbnb Annual revenue: £19,831
- Gross rental yield: 9.91%
2. Nottingham
- Distance from Sheffield: 60 kilometers
- Total Number of Airbnb Listings: 348
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): £100,000
- Airbnb Annual revenue: £18,537
- Gross rental yield: 18.54%
3. Leicester
- Distance from Sheffield: 86 kilometers
- Total Number of Airbnb Listings: 177
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): £125,000
- Airbnb Annual revenue: £27,700
- Gross rental yield: 22.16%
Source: Airbtics Dashboard
How to Find Profitable Locations to Invest in?
Finding profitable Airbnb markets can be quite the challenge and we know that the investor’s time is valuable. And precisely because we know how precious is, we encourage you to take advantage of the many available resources for property investors to speed things up in this journey.
Hence, if you want to find the most profitable area to operate your Airbnb effortlessly, then we recommend you make use of the best analytics tools, especially those which can provide you with dynamic data. Previously, it was fairly difficult to find apps that offer this type of dataset, but sites like Airbtics have taken a quantum leap forward and solved this problem to provide this resourceful service to investors!
Explore a city and get reliable dynamic data that can make things easier for you. And to know whether a market will provide you with a rewarding experience, you will need to collect important information such as the average revenue, occupancy rates, nightly rates, and seasonality, among others. Fortunately, Airbtics Dashboard can help you with this tiresome task.
Now, you will have a better view of your target market. But what if you want to dive deeper and obtain more specific data points? Then, you’d play around with the filters and find the best results. You can use filters to find out what type of property offers the most attractive profit in your preferred area. And the best part of using dynamic data is that when you move and zoom in and out of your map, the data will also change accordingly.
This process can now be repeated until you decide what type of property would be a good investment in your target city or neighborhood. Compare data between different property types and you find out the option that suits you the best!
Make data-based decisions using reliable analytics tools
Sheffield’s real estate market offers a variety of property types with a wide range of price options depending on the area. The same can be said for the nearby cities as they also provide attractive investment opportunities. Hence, it’s visible that investing in short-term lets in Sheffield or surrounding areas can help investors and Airbnb hosts to obtain a good return on their investment, especially if they invest in a 1-bedroom or 2-bedroom property.
But before making an important investment decision, we encourage you to continue exploring other best locations for buy to let in the UK and review all options so that you won’t miss out on better opportunities. This is why you’d consider analyzing markets using dynamic data with Airbtics.
Knowing the best places to invest in Airbnb in Sheffield is a great way to start your investment journey, but you should aim higher! Make smart investment decisions and improve your Airbnb strategies by using reliable tools such as our STR’s income estimator. Take advantage of the digital era with Airbtics and boost your gains now!
Short-Term Rental Data
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