The £500 a month rental room in London ‘no longer exists’

The £500 a month room in London is extinct, despite a 1.7% dip in rental prices in the capital.

Data from the agent Portico shows that the average rental price for a two-bedroom property in London in July was £1,756, or £878 per room.

Bexley holds the title of the cheapest borough in London, with the average rental price of a two-bedroom property standing at £1,108 per month, or £554 per room.

Tenants will pay even more if they are living alone, with the lowest average rental price in Bexley for a one-bedroom flat at £847.32 a month.

At the other end of the scale, properties being let in Kensington and Chelsea during July had average rental prices of £3,989 for a two-bedroom property, or £1,994.50 per room.

Robert Nichols, managing director of Portico, says: “Many Londoners now consider renting as a long-term norm, as a result of rising property prices.

“It’s therefore good to know where you can find the most affordable rent – and our data lists the London boroughs two-bedroom rental prices from the cheapest to the most expensive.”

 Borough July Average Monthly Rent for a 2 Bedroom Property
Bexley £1,108
Havering £1,156
Sutton £1,234
Croydon £1,251
Barking and Dagenham £1,278
Bromley £1,299
Hillingdon £1,312
Redbridge £1,330
Enfield £1,334
Waltham Forest £1,360
Harrow £1,417
Lewisham £1,430
Greenwich £1,477
Kingston upon Thames £1,490
Newham £1,564
Barnet £1,573
Ealing £1,586
Haringey £1,586
Hounslow £1,590
Brent £1,612
Merton £1,621
Richmond upon Thames £1,829
Lambeth £1,855
Hackney £1,968
Southwark £1,986
Wandsworth £2,034
Hammersmith and Fulham £2,116
Islington £2,186
Tower Hamlets £2,251
Camden £2,559
Westminster £3,811
Kensington and Chelsea £3,989


sprift end of

Email the story to a friend

Leave a reply

If you want to create a user account so you can log in, click here

More top news stories

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.