Average flat rent prices in London have come to the mind of everyone who is considering or wondering about living in this city.
London is famous for its exorbitant rents. Even before the cost of living crisis, it was one of the most expensive locations. In this article, you will find the rental prices in September 2023.
About rent prices in London
The most costly locations, according to Hamptons real estate professionals, are (Kensington and Chelsea); the average rental cost is £3,960 per month; that is: 990 pounds per week, 141 pounds per day, and 5.90 pounds per hour, which is more than a trainee can achieve in an hour.
Westminster rents an average of £3,870 per month, while the City of London comes in third. Where the rent is much lower at 2,760 pounds.
While fashionable Camden came in fourth with an average price of £2,620, Havering came in first with an average monthly rent of £1,170, followed by Bexley at £1,200, and Hillingdon at £1,210.
These figures confirm what most Londoners already know: the cost of renting in West London is very high, comparable to the cost of renting in central neighbourhoods, and, surprisingly, central neighbourhoods (such as Tower Hamlets, Hackney, and Islington) were ranked as average in terms of cost, while neighbourhoods far from central London are the least expensive.
Average rent prices in London per neighborhood
Find out the full list of average apartment rents in areas of London, according to the Hamptons real estate company, from the following table:
|Average cost of rent
|Kensington and Chelsea
|City of London:
|Hammersmith and Fulham
|Richmond upon Thames
|Kingston upon Thames
|Barking and Dagenham
How to Find Affordable Homes in London
Affordable housing is a major issue in London. With such high costs of living, many people have to settle for accommodations that are below their expectations.
There are a lot of ways to find affordable homes in London. You can look for properties that are up for sale and check their asking prices. You can also look into shared ownership schemes that allow you to buy a share of the property and pay rent on the remaining share.
One way of finding an affordable housing option is by looking at which neighbourhoods are the most cost-effective.
If you are looking for an affordable home in London, you can find one quickly and easily by following these steps:
- Search for a property on the internet or through an estate agent.
- Visit the property and make sure it is suitable for you.
- Consider the price of the property and compare it with other properties that are available.