Is Airbnb Profitable in Manchester ?
If you're wondering whether Airbnb is profitable in Manchester, the answer is a resounding yes. With its thriving tourism industry and increasing demand for unique accommodations, now could be the perfect time to start your Airbnb business in Manchester, but that does not mean that every property is profitable, in this blog we are going to explore Manchester as an investment location for Airbnb and cover the following:
The growth of Airbnb in Manchester.
Is Airbnb Profitable ? a deep dive.
Average occupancy rate in Manchester
Average nightly rate in Manchester.
What type of guests stay in Manchester.
Free Airbnb Income Calculator.
So let’s begin!
The Growth Of Airbnb In Manchester
Manchester, the vibrant city in the heart of the United Kingdom, has witnessed a remarkable surge in the popularity of Airbnb in recent years.
As a hub of culture, history, and economic activity, the city has become an increasingly attractive destination for guests seeking unique and authentic experiences.
The rise of Airbnb in Manchester can be attributed to several factors.
Firstly, the city's thriving tourism industry has driven a growing demand for alternative accommodation options beyond traditional hotels.
Visitors are seeking more personalised and immersive experiences, and Airbnb's diverse range of properties, from cozy apartments to charming townhouses, caters perfectly to this trend.
Manchester is a growing location perfect for Airbnb
Furthermore, the city's booming economy and burgeoning population have contributed to the expansion of the short-term rental market.
As more people move to Manchester for work, study, or leisure, the need for flexible and affordable accommodation has increased, making Airbnb a popular choice among both domestic and international guests.
The platform's user-friendly interface and extensive listings have made it easier for property owners to list their spaces and connect with potential guests, further driving the growth of Airbnb in the area.
Is Airbnb Profitable in Manchester ?
Manchester has proven to be a highly lucrative market for Airbnb hosts, with the potential for substantial returns on investment, but what makes Manchester great ?
Manchester is a popular destination
One of the primary factors contributing to the profitability of Airbnb in Manchester is the city's strong demand for short-term rental accommodations. As a popular tourist destination, Manchester attracts a steady stream of visitors throughout the year, ranging from business travelers and families to solo adventurers and group travelers. This consistent demand ensures that Airbnb hosts can maintain high occupancy rates and generate a reliable income stream.
Manchester has a lot of different events throughout the year
The city's diverse range of attractions and events, from the iconic Old Trafford stadium to the vibrant Northern Quarter, provide Airbnb hosts with the opportunity to target specific segments of the market.
By strategically positioning their properties and tailoring their offerings to cater to the needs of different traveler types, Airbnb hosts can optimise their earnings and maximise their profitability.
Average Occupancy Rate in Manchester
The average occupancy rate for Airbnb properties in Manchester is a crucial metric that directly impacts the profitability of an Airbnb venture.
According to industry data, the average occupancy rate for Airbnb listings in Manchester is typically around 70-80%.
Taken from Airdna
Now people might be thinking that this image says 52% so why are you saying 70-80 ?
This is because this is an average across the whole of Manchester which makes up 11 sub markets, this is why it is important to do you homework and invest in the right locations, we are going to show you how to do this later.
Average Nightly Rate in Manchester
Another crucial factor in determining the profitability of Airbnb in Manchester is the average nightly rate for Airbnb properties in the city.
According to industry data, the average nightly rate for Airbnb listings in Manchester ranges from £80 to £120 and higher, with luxury or centrally located properties commanding higher rates.
Things to note
Moreover, the average nightly rate is influenced by several factors, including the property's:
Location.
Size.
Amenities.
The host's pricing strategy.
Airbnb hosts in Manchester who strategically price their properties, considering factors such as seasonality, local events, and market trends, can maximise their earnings and achieve a higher return on investment.
What type of guests stay in Manchester ?
Manchester's diverse appeal as a destination attracts a wide range of guests.
Business Travelers / Contractors
Manchester's thriving economy and status as a hub of innovation and commerce make it a popular destination for business travelers.
These guests often seek convenient, well-appointed accommodations close to their meeting venues, corporate offices, or construction projects, presenting an opportunity for Airbnb hosts to cater to this segment of the market.
Leisure Guests
From families seeking a cultural getaway to solo adventurers exploring the city's vibrant nightlife, Manchester attracts a significant number of leisure travelers.
These guests may be interested in unique, experiential accommodations that allow them to immerse themselves in the local culture and lifestyle, making Airbnb a compelling option, location is also extremely important so make sure you are near local bars and transport links
Tourists
Manchester's popularity as a destination for events, festivals, and celebrations attracts a significant number of tourist travelers, such as friends, families, or colleagues.
Airbnb properties that can accommodate larger groups, with ample space and amenities, are well-positioned to capitalise on this segment of the market.
Best Areas in Manchester for Airbnb
If you wondering where is the best locations to invest in Manchester? Look no further! Here are 10 areas guests often search for.
Northern Quarter
Castlefield
Chinatown
Manchester Cathedral
Science and Industry Museum
Manchester Art Gallery
Old Trafford Stadium
The Trafford Centre
Etihad Stadium
John Rylands Library
Free Airbnb Income Calculator
To help you assess the potential profitability of an Airbnb venture in Manchester, we've created a free Airbnb income calculator, this is to help people estimate profitability of their potential investments, you can access this below.
Here are some other free resources that you might like
Airbnb Management In Manchester
If you are interested in hassle free Airbnb Management for your Airbnb property in Manchester, get in touch and we can provide expertise on income, occupancy & make your investment hands off.