Renting property anywhere in London is expensive. But where you live in the British capital can save you hundreds on your monthly rent.
A new map from the flat and house share site SpareRoom.co.uk, which we first spotted on TimeOut, highlights the cheapest and priciest areas in which to rent a double room in the city.
Here’s the full, colour-coded map from the recently released SpareRoom London Rental Index for Q2 2016. The darker the colour, the more expensive the rent.
The most affordable rent can be found in the postal district of SE9 Eltham, where the average room costs £518 per month.
Other postcode districts in east and southeast London are also among the cheapest, with nine of the 10 most affordable places to rent in these areas.
Unsurprisingly, rooms in west central or central east London have the highest rent. EC1, St. Paul’s, is the priciest area on the map, with rooms costing an average of £1,153 per month in rent.
Despite the steep price of London property, the index found that the cost of rent has only increased by 1% between 2015 and 2016, compared to 8% between 2014 and 2015. Rent in a third of the city’s postcode districts has decreased year on year, according to the report.
“London rents have risen under 2% year on year for the second quarter in a row,” Matt Hutchinson, director of SpareRoom.co.uk, is quoted in the index. “It’s too early to know if this is the start of a calmer period for the capital’s renters, or whether what we’re seeing is driven by uncertainty surrounding Brexit.”
Here are the 10 most affordable places to live in the city, and the average monthly rent for each:
10. SE18, Plumstead/Woolwich — £557 (TIED)
10. N20, Totteridge/Whetstone — £557 (TIED)
10. SE25, Norwood — £557 (TIED)
7. E7, Forest Gate — £554 (TIED)
7. SE7, Charlton — £554 (TIED)
7. SE6, Catford — £550
4. SE26, Sydenham — £545
3. E4, Chingford — £544
2. E12, Manor Park — £535
1. SE9, Eltham — £519
And the 10 most expensive places to live in the city, and the average monthly rent for each:
10. EC1, Aldersgate/Finsbury/Holborn — £920
9. W2, Bayswater/Paddington — £928
8. W11, Notting Hill — £946
7. SW10, West Brompton/Chelsea — £988
6. W1, West End/Soho — £1,003
5. WC2, Strand/Holborn — £1,034
4. W8, Holland Park — £1,049
3. SW3, Chelsea — £1,055
2. SW7, South Kensington/Knightsbridge — £1,131
1. EC4, St. Paul’s — £1,153
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