1. Properties with Pools Earn the Most
One of the most notable insights from the report is that properties with pools significantly outperform those without. On average, properties with pools earned 54% more than those without pools. This shows that guests are willing to pay a premium for access to luxury amenities like a private pool, making it one of the most profitable features for an Airbnb.
2. Pet-Friendly Properties Generate Higher Income
In recent years, pet-friendly accommodations have grown in popularity, and the numbers back it up. According to the 2024 results, pet-friendly properties earned 5% more than non-pet-friendly properties. By offering a pet-friendly stay, you can attract a wider audience, particularly families and pet owners, who often struggle to find suitable accommodation.
3. Air Conditioning Is Key for Non-Waterfront Properties
If your property isn’t located on the waterfront, offering air conditioning can significantly boost your earnings. The report shows that air-conditioned non-waterfront properties earned 6% more than those without. This suggests that comfort amenities such as climate control are essential for properties that may not have the natural appeal of a beachside location.
4. Properties with Spas See an Increase in Revenue
Adding a spa or hot tub to your property is another way to increase your Airbnb income. The report reveals that properties with spas earned 14% more than those without. This is another example of how guests are willing to pay extra for luxurious experiences that enhance their stay.
5. Location Matters: High-Performing Areas
It’s not just the features of the property that affect income—location is a critical factor. According to the report, Shellharbour was the top-performing area, with an average income of $193,675 per property. Other high-performing locations include Berry ($125,211) and Umina Beach ($110,142).
In contrast, lower-performing areas like Surf Beach and Sanctuary Point earned significantly less, with properties generating average incomes of $35,651 and $39,372, respectively.
6. Nightly Booking Value and Occupancy Rates
The report shows that the average booking value for PHH properties was $1,397 per night, with an average occupancy rate of 46%. Properties that optimize pricing through dynamic pricing strategies and offer unique experiences are better positioned to achieve higher occupancy rates and overall income.
7. Key Amenities for Success
In addition to luxury features like pools and spas, offering essential amenities can significantly boost your Airbnb’s performance. Guests expect a comfortable stay, and providing Wi-Fi, dishwasher, air conditioning, and a well-equipped kitchen are critical to ensuring positive guest experiences and attracting more bookings. Properties that provide these key amenities consistently outperform those that don’t.
Maximising Your Airbnb Income: What to Focus On
Based on the data, here are some actionable tips for increasing your Airbnb revenue:
- Add a Pool or Spa: Properties with pools and spas consistently earn more, making these investments worthwhile if your budget allows.
- Make Your Property Pet-Friendly: By allowing pets, you can tap into a growing market of travelers who prefer to bring their furry friends along.
- Provide Key Amenities: Ensure your property is equipped with essential amenities like Wi-Fi, dishwasher, air conditioning, and a fully stocked kitchen to attract more bookings and positive reviews.
- Target High-Performing Areas: If you’re considering investing in a new property, locations like Shellharbour, Berry, and Umina Beach have proven to be highly profitable.
If you’re looking to maximize your property’s potential and increase your Airbnb income, inquire about our management services to see how we can help optimize your earnings.
For a more in-depth look at the 2024 property performance and insights, you can download the full PHH Property Results 2024 report by completing the form on our website. Access the full report here.
