Owners in Cornwall made an average of £40,060,440 for its rentals for the summer of 2023 – making it the most profitable area to own such a rental, analysis from Wealth of Geeks has revealed.
Whilst Cornwall’s population is around 565,968, the town received triple the amount of holidaymakers last summer, with the average nightly price of a room at £84 and the typical price of a house at £117.
A spokesperson for Wealth of Geeks said: “In the summer of 2023, the UK holiday rental made approximately £739,211,390, according to our data.
“Holiday rentals play a vital role in the UK’s tourism industry by supporting local economies, providing accommodation to enhance visitor experience, and promoting tourism in diverse regions across the country.
“Tourism also helps to promote awareness of lesser-known areas, helping to distribute tourist spending more evenly across the country.
“While some destinations may experience seasonal fluctuations in tourism often in the summer months, holiday rentals attract visit year-round, helping to sustain economies and businesses during off-peak seasons.”
Westminster is the second most money-making, generating an average of £34,441,270 over the three-month summer of 2023.
A room in Westminster costs around £113, an apartment £147, and a house £435 per night, generating 304,790 nights last summer.
Camden takes the third spot for profitability, with 172,500 nights; the town generated an average of £21,217,500 over the summer of 2023.
A nightly cost for a room in Camden is around £123, an apartment costs £156, and a house £140.
| Rank | Location | Nights | Median price per night (room) | Median price per night (house) | Median price per night (apartment) | Location revenue (nights x price per night) |
| 1 | Cornwall | 476,910 | £84 | £117 | £113 | £40,060,440 |
| 2 | Westminster | 304,790 | £113 | £435 | £147 | £34,441,270 |
| 3 | Camden | 172,500 | £123 | £140 | £156 | £21,217,500 |
| 4 | Hackney | 101,140 | £202 | £204 | £127 | £20,430,280 |
| 5 | Kensington and Chelsea | 167,770 | £113 | £115 | £145 | £18,874,125 |
| 6 | Brighton and Hove | 134,010 | £100 | £100 | £128 | £13,401,000 |
| 7 | Islington | 108,250 | £117 | £255 | £173 | £12,665,250 |
| 8 | Southwark | 104,290 | £112 | £116 | £131 | £11,680,480 |
| 9 | Tower Hamlets | 161,000 | £73 | £166 | £169 | £11,672,500 |
| 10 | Lambeth | 98,430 | £113 | £440 | £136 | £11,122,590 |
