THE PROPERTY FILTER TAKE
Bristol, Belfast and Sheffield topped the UK for LISA bonuses paid to first-time buyers in 2024/25, with Bristol leading at 1,030 bonuses, according to HMRC data.
High first-time buyer activity in these cities signals strong underlying housing demand - the same demand that drives short-let bookings from relocators, contractors and visitors.
If you run a short-let in Bristol, Belfast or Sheffield, you may wish to review your pricing and availability calendar to capture demand from people exploring these cities before committing to a purchase.
Bristol, Belfast and Sheffield led the UK last year for the number of first-time buyers using a LISA (Lifetime Individual Savings Account - a government-backed savings account that pays a 25% bonus on contributions used to buy a first home) to fund their purchase. The data, from HMRC and reported by Mortgage Strategy, points to where housing demand is strongest - and where short-let operators should be paying attention.
Where the LISA Bonuses Are Being Paid
Bristol recorded 1,030 LISA bonuses paid to first-time buyers in 2024/25, making it the top local authority area in the UK, according to HMRC data reported by Mortgage Strategy. Belfast came second with 1,020 bonuses and Sheffield third with 990.
These are not small numbers. Three cities each clearing 1,000 bonuses in a single year means thousands of people actively researching, viewing and relocating to these locations. That activity creates a guest pipeline for short-let operators: people who need somewhere to stay while they search, attend viewings, or wait for a sale to complete.
Nationwide, HMRC data shows 58,000 LISA bonuses were paid to first-time buyers in 2024/25. That is down 2% year on year, suggesting some softening in first-time buyer volume across the UK as a whole. The concentration of activity in Bristol, Belfast and Sheffield is therefore all the more notable.
What High First-Time Buyer Demand Means for Your Occupancy
When a city attracts high volumes of first-time buyers, it also tends to attract the contractors, removals crews, estate agents and relocation consultants who support them. All of these people need accommodation - and many prefer a short-let over a hotel for stays longer than two or three nights.
Bristol in particular has seen consistent demand from the tech and creative sectors, which also attract corporate contractors. If your listing is in or near the city centre, the data suggests you are operating in one of the UK's most active housing markets. Your occupancy can benefit from positioning your property towards medium-term stays of four to seven nights, which suit relocators well.
Keep an Eye on Local Licensing Rules
Short-term let regulation is not uniform across the UK. In England, the government introduced a mandatory short-term let registration scheme under the Levelling-up and Regeneration Act 2023. In Scotland, a licensing scheme under the Civic Government (Scotland) Act 1982 (as amended) is already in force. Northern Ireland, where Belfast sits, operates under separate devolved rules.
Before adjusting your strategy in any of these cities, confirm the current licensing position for your local authority. Getting compliance right protects your listing and your income.
Key takeaways
Bristol, Belfast and Sheffield topped the UK for LISA bonuses paid to first-time buyers in 2024/25, with Bristol leading at 1,030 bonuses, according to HMRC data.
High first-time buyer activity in these cities signals strong underlying housing demand - the same demand that drives short-let bookings from relocators, contractors and visitors.
If you run a short-let in Bristol, Belfast or Sheffield, you may wish to review your pricing and availability calendar to capture demand from people exploring these cities before committing to a purchase.
Related Property Filter resources
Bristol, Belfast and Sheffield led the UK last year for the number of first-time buyers using a LISA (Lifetime Individual Savings Account - a government-backed savings account that pays a 25% bonus on contributions used to buy a first home) to fund their purchase. The data, from HMRC and reported by Mortgage Strategy, points to where housing demand is strongest - and where short-let operators should be paying attention.
Where the LISA Bonuses Are Being Paid
Bristol recorded 1,030 LISA bonuses paid to first-time buyers in 2024/25, making it the top local authority area in the UK, according to HMRC data reported by Mortgage Strategy. Belfast came second with 1,020 bonuses and Sheffield third with 990.
These are not small numbers. Three cities each clearing 1,000 bonuses in a single year means thousands of people actively researching, viewing and relocating to these locations. That activity creates a guest pipeline for short-let operators: people who need somewhere to stay while they search, attend viewings, or wait for a sale to complete.
Nationwide, HMRC data shows 58,000 LISA bonuses were paid to first-time buyers in 2024/25. That is down 2% year on year, suggesting some softening in first-time buyer volume across the UK as a whole. The concentration of activity in Bristol, Belfast and Sheffield is therefore all the more notable.
What High First-Time Buyer Demand Means for Your Occupancy
When a city attracts high volumes of first-time buyers, it also tends to attract the contractors, removals crews, estate agents and relocation consultants who support them. All of these people need accommodation - and many prefer a short-let over a hotel for stays longer than two or three nights.
Bristol in particular has seen consistent demand from the tech and creative sectors, which also attract corporate contractors. If your listing is in or near the city centre, the data suggests you are operating in one of the UK's most active housing markets. Your occupancy can benefit from positioning your property towards medium-term stays of four to seven nights, which suit relocators well.
Keep an Eye on Local Licensing Rules
Short-term let regulation is not uniform across the UK. In England, the government introduced a mandatory short-term let registration scheme under the Levelling-up and Regeneration Act 2023. In Scotland, a licensing scheme under the Civic Government (Scotland) Act 1982 (as amended) is already in force. Northern Ireland, where Belfast sits, operates under separate devolved rules.
Before adjusting your strategy in any of these cities, confirm the current licensing position for your local authority. Getting compliance right protects your listing and your income.
Key takeaways
Bristol, Belfast and Sheffield topped the UK for LISA bonuses paid to first-time buyers in 2024/25, with Bristol leading at 1,030 bonuses, according to HMRC data.
High first-time buyer activity in these cities signals strong underlying housing demand - the same demand that drives short-let bookings from relocators, contractors and visitors.
If you run a short-let in Bristol, Belfast or Sheffield, you may wish to review your pricing and availability calendar to capture demand from people exploring these cities before committing to a purchase.
