Leading London lettings agency Hamptons has claimed that they are seeing an influx of former Airbnb apartments being brought to the long term rental market as landlords react to decreased demand for short stays in the centre of the city. Hamptons claims that available rental stock across London is 26% up on this time last year and in the inner city this figure is as high as 42%. The agency also claims that 37% of Airbnb listings in London have changed to long-term leases since the end of the national lockdown and that 12% of all properties being advertised for sale used to be on Airbnb. Rent prices in the whole of the UK are currently flat, but in London say a fall of 4.2% in July with an even larger decrease in the centre of the city of 8.4% according to Hampton’s figures.
Airbnb, which may be about to IPO, has been attempting to change its business model slightly to allow for more longer-term lettings of properties that it lists. Despite this, there has been anecdotal evidence across several major European cities that landlords are removing their properties from Airbnb and putting them onto the longer-term market in the face of fading demand for short breaks in crowded cities and increasing regulations around cleaning and preparing properties.