The Hottest Short-Term Rental Markets in the UK for 2024: Exploring Unique Rural and Urban Destinations

2023 was a year filled with ups and downs for vacation rental hosts and managers. They faced numerous challenges, from oversaturation to economic conditions and more. However, as noted in our “A Look Beyond 2024” predictions report, rural destinations and historic towns fared better than other areas in the short-term rental market. Therefore, it comes as no surprise that these markets are at the top of our list for the hottest short-term rental markets in 2024.

As a short-term rental host or property manager, it is crucial to stay informed about the latest trends and stay ahead of the competition. That is why we have compiled a list of the most sought-after short-term rental markets across the UK for 2024. From Edinburgh to the Firth of Forth, these urban and rural destinations offer great potential for success.

At Beyond, we rely on data to make informed decisions. Our access to real-time, global short-term rental data allows us to unlock valuable insights and automate actions. In this blog post, we will utilise our extensive database to identify the top markets in the UK. All prices and percentages mentioned below are sourced from Beyond's database.

Edinburgh 

Average Occupancy: 77% (-2% vs 2022) 

Average Nightly Price: 205 £ (+16% vs 2022) 

Average RevPAN: +13% 

Edinburgh has a thriving tourism industry, there is a constant demand for accommodation options that cater to the needs of visitors. However, it's important for property managers to be aware of the regulations set by the Edinburgh City Council regarding short-term lets. The council has established a control area covering the entire local authority, requiring owners to obtain planning permission for short-term rentals. Despite these regulations, Edinburgh continues to attract property managers due to its potential for both long and short-term rental opportunities.

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Isle of Skye 

Average Occupancy: 72% (similar to 2022) 

Average Nightly Price: 161 £ (+17% vs 2022) 

Average RevPAN: +17% 

With its stunning natural beauty and unique landscapes, Isle of Skye has become a popular destination for short-term rentals. Property owners can take advantage of the demand for accommodations by offering fully furnished rentals that provide a comfortable and convenient stay for visitors.

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Bristol

Average Occupancy: 70% (-5% vs  2022) 

Average Nightly Price: 157 £ (+12% vs 2022) 

Average RevPAN: +5% 

Bristol's popularity as a short-term rental destination can be attributed to its vibrant atmosphere, rich history, and diverse attractions. The city offers a thriving arts scene, bustling markets, and a vibrant nightlife. Visitors can explore iconic landmarks such as the Clifton Suspension Bridge, Bristol Zoo Gardens, and We The Curious science museum.

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London 

Average Occupancy: 69% (-5% vs  2022) 

Average Nightly Price: 238 £ (+19% vs 2022)

Average RevPAN: +11% 

London is undeniably one of the top destinations in the world for short-term rentals. With its rich history, iconic landmarks, and vibrant culture, the city offers a diverse range of accommodations to suit every traveler's needs.

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Firth of Forth

Average Occupancy: 68% (-5% vs  2022) 

Average Nightly Price: 119 £ (+14% vs 2022) 

Average RevPAN: +14% 

Located on the east coast of Scotland, this stunning estuary offers a wealth of opportunities for both leisure and business travelers. The Firth of Forth boasts breathtaking natural beauty, with its expansive coastline, picturesque islands, and charming coastal towns. This scenic area is home to iconic landmarks such as the Forth Bridge, a UNESCO World Heritage site, and the historic town of South Queensferry.

Brighton 

Average Occupancy: 67% (-3% vs  2022) 

Average Nightly Price: 157 £ (+2% vs 2022)

Average RevPAN: -2% 

Located on the south coast of England, this dynamic city offers a unique blend of history, culture, and seaside charm that attracts visitors from near and far.

Emphasize the range of activities and attractions available in Brighton to entice potential guests. The city boasts a thriving arts scene, lively nightlife, and a bustling food scene. Visitors can explore iconic landmarks like the Royal Pavilion, stroll along the famous Brighton Pier, or enjoy a day at the vibrant North Laine shopping district.

Cambridge

Average Occupancy: 67% (-3% vs  2022) 

Average Nightly Price: 128 £ (+4% vs 2022)

Average RevPAN: -0% 

Located in the heart of England, Cambridge is renowned for its world-class university, stunning architecture, and rich cultural heritage, making it an attractive choice for both leisure and business travelers.

Cambridge is famous for its academic legacy, with the University of Cambridge being one of the oldest and most prestigious universities in the world. This draws a significant number of visitors, including prospective students, academics, and researchers. By offering short-term rentals in Cambridge, you can cater to this demand and provide them with comfortable and convenient accommodations.

Oxfordshire

Average Occupancy: 66% (-2% vs  2022) 

Average Nightly Price: 147 £ (+6% vs 2022)

Average RevPAN: +3% 

Situated in the heart of England, this picturesque county is renowned for its world-class university, stunning landscapes, and rich history, making it an ideal choice for travelers seeking a unique and memorable experience.

Oxfordshire is home to the prestigious University of Oxford, attracting a constant flow of visitors including prospective students, academics, and researchers. By offering short-term rentals in Oxfordshire, you can cater to this demand and provide them with comfortable and convenient accommodations.

Berkshire 

Average Occupancy: 64% (-2% vs  2022) 

Average Nightly Price: 136 £ (+5% vs 2022)

Average RevPAN: +2% 

Located in the scenic countryside of Southern England, Berkshire offers a combination of natural beauty, historic charm, and proximity to major attractions, making it an ideal choice for travelers seeking a memorable experience.

Berkshire is home to several picturesque towns and villages, including Windsor, Ascot, and Henley-on-Thames. These locations attract a diverse array of visitors, from tourists exploring the area's rich history to business travelers attending events and conferences.

Northern Scottish Highlands

Average Occupancy: 64% (-1% vs  2022) 

Average Nightly Price: 106 £ (+9% vs 2022)

Average RevPAN: +7% 

This breathtaking region offers rugged landscapes, rich history, and a sense of tranquility that attracts travelers seeking a unique and immersive experience.

The Northern Scottish Highlands are renowned for their dramatic scenery, including majestic mountains, deep lochs, and vast expanses of untouched wilderness. Highlight the opportunity for guests to explore famous landmarks such as Ben Nevis, the highest mountain in the UK, or Loch Ness, renowned for its mythical creature.