Data collected by Your AirHost reveals that, in almost all London neighbourhoods, the number of active short-term rentals was lower in Q1 of 2023 compared with Q1 of 2020.

The study shows that the number of active rentals, which includes properties that had at least one day reserved or available each month, is down across the capital by 27% compared with the beginning of 2020.

The data, which uses figures from Airdna, identifies only 7 neighbourhoods where the number of active rentals has risen, with the average growth in these areas being just 23%.

Neighbourhood

Q1 2020

Q1 2023

% Change

Bexley

191

347

81.68%

Barking & Dagenham

321

431

34.27%

Havering

255

308

20.78%

Croydon

1088

1220

12.13%

Acton

612

643

5.07%

Barnet

1422

1475

3.73%

Hounslow

501

515

2.79%

While some of the neighbourhoods with the highest decline are in central London, supply issues are affecting areas of both central and greater London.

The 10 neighbourhoods with the highest decline compared to pre-Covid levels are:

Neighbourhood

Q1 2020

Q1 2023

% change

Whitechapel

3812

1844

-51.63%

Bethnal Green

1825

970

-46.85%

Hammersmith

1732

985

-43.13%

Islington

3116

1806

-42.04%

Clerkenwell

1593

928

-41.75%

Bloomsbury

3808

2356

-38.13%

Maida Vale

1138

710

-37.61%

Westminster

2343

1462

-37.60%

City of London

674

429

-36.35%

Hampstead

1394

888

-36.30%

On the other hand, Airbnb property owners have seen their average daily rate climb by 67% in the same period, from an average of £147 to £246 across the capital.

The decline in available listings is therefore likely not a representation of demand but of shrinking availability in both long-term and short-term rental properties.