As Taylor Swift’s highly anticipated “Eras” tour sweeps through the UK next month, homeowners in key concert cities have a unique opportunity to boost their rental income by listing their full property on Airbnb.
Online mortgage advisor, Mojo Mortgages, has analysed Airbnb data across these locations, revealing the potential earnings homeowners can achieve by capitalising on the surge in demand for accommodation from “Swifties.”
UK homeowners can make thousands next month from Taylor Swift’s tour
Here’s a breakdown of the potential earnings for homeowners in each of the four concert’s cities:
| City / Event location | Average Airbnb price per night | Total nights Taylor’s playing in the city | Potential money to be made |
| Edinburgh (Murrayfield Stadium) | £971.32 | 3 | £2,913.96 |
| London (Wembley Tour) | £344.23 | 8 | £2,753.92 |
| Liverpool (Anfield Stadium) | £443.27 | 3 | £1,329.81 |
| Cardiff (Principality Stadium) | £790.28 | 1 | £790.28 |
Edinburgh stands out as the city with the highest potential earnings for homeowners. With an average nightly rate of £971.32, homeowners could earn close to £3,000 over the three-night stay. This is likely due to it being Swift’s only stop in Scotland. However, as the next closest city, Liverpool, is a staggering 176 miles away, Edinburgh is likely to be closer for a lot of Swifties at the top of Northern England too.
As the capital city of the UK, it should come as no surprise that Swift is spending the majority of her UK leg in London. Eight days, in fact. Whilst there is lots of competition for an Airbnb in London, which makes the average Airbnb price per night lower, there’s still money to be made. Over the eight nights, homeowners could potentially earn just short of £2,800 by listing their property on Airbnb.
Homeowners in Liverpool also have a lucrative opportunity to boost their income. With three nights of concerts and an average Airbnb price of £443.27, homeowners could earn over £1,300 in extra income.
Finally, even with just a single concert date in Cardiff, homeowners can still capitalise on the Swiftie surge. The average Airbnb price of £790.28 could translate to nearly £800 in additional income. Not bad for one night’s work!
Airbnb prices are up +533% during Taylor’s tour
Mojo Mortgages data has also uncovered a significant increase in Airbnb prices during the Taylor Swift concerts, compared to the average prices outside of the concert timeframe:
| City / Event location | Average Airbnb price per night (outside of the concert timeframe) | Average Airbnb price per night (during the concert) | Increase |
| Edinburgh (Murrayfield Stadium) | £153.25 | £971.32 | +533% |
| Cardiff (Principality Stadium) | £127.97 | £790.28 | +517% |
| Liverpool (Anfield Stadium) | £133.50 | £443.27 | +232.03% |
| London (Wembley Tour) | £184.84 | £344.23 | +86.23% |
As you can see, Mojo Mortgages data shows that homeowners in these four cities have a unique opportunity to potentially earn thousands of pounds in extra cash. Whether you want to spend the money on home improvements, a holiday or attending a different concert if Taylor Swift isn’t to your taste, there is money to be made for homeowners!
However, beyond the financial benefits, there are also wider benefits for the community and concert go-ers themselves. As well as contributing to the local economy by promoting tourism and showcasing the unique culture and offerings of your city, playing host makes you a part of the fan’s memorable experience.
Four tips for hitting the right note should you rent your home out during the “Eras” tour
Make sure to implement the following four tips to effectively rent out your property during Taylor Swift’s tour:
- Check with your mortgage provider. Check that your mortgage agreement allows you to sublet your property on a short-term basis. Some lenders may have restrictions, so it’s crucial to get their approval before listing on Airbnb.
- List your property on Airbnb. Create a detailed listing that highlights your property’s features and proximity to the concert venues. Be sure to price your nightly rate competitively to attract “Swifties” to choose your property.
- Be prepared for guests. Make sure your property is well-equipped to handle the influx of guests by providing clear instructions, stocking up on essentials, and ensuring that they have a smooth check-in and check-out process.
- Declare this additional income. Remember that Airbnb takes a percentage of your earnings, and you’ll need to report all rental income to HMRC. If you’re unsure how much tax you need to pay, seek professional tax advice.