It will come as a surprise to, quite literally, nobody to hear that renting a gaff in the capital city has become outrageously expensive. Wading through the murky waters of London’s rental market is most definitely not an activity for the faint of heart or the weak of bank balance. And if we weren’t absolutely sure of that before, we certainly are now. The property-pros over at Zoopla have recently revealed the average cost to rent a home across the UK. And London is leaps, bounds, and (many many) pounds ahead of every other area in the country.
Zoopla’s research revealed that renting in the capital city will officially set you back twice as much money each month than it would elsewhere in the UK. The average monthly rent in London was revealed to be a rather eye-watering £2,224, having reached what’s been referred to as an ‘affordability ceiling’ – with many Londoners physically unable to pay any more.
To put that cost into perspective for you, the cheapest place to rent in the UK is the North East, where the average monthly price to rent a property is just £760. But, fear not, dear house-hunting Londoners; it’s not all doom and gloom. The data did reveal some marginally more affordable areas to rent in the capital city, and we’re about to point you in their cheap(ish)-and-cheerful direction.
The cheapest places to rent a property in London:
- Croydon (average monthly rent: £1617)
- Sutton (average monthly rent: £1628)
- Bexley (average monthly rent: £1638)
- Havering (average monthly rent: £1703)
- Bromley (average monthly rent: £1714)
If you’re in the mood for a spot of self-torture, you can peruse Zoopla’s full findings here. But be warned: it’ll make you want to pack up your belongings and immediately hotfoot it to Middlesborough.