Average rental house prices in London stand at £1,467 monthly

LONDON RENT

According to the Rentify Property Index, the average rental value of a London property in October stands at £1,467 compared to £1,402 in June 2015.

Rental values in London have risen by nearly five per cent (4.67%) since June 2015, with the average rental price for a property in the capital standing at £1,467 compared to £1,402 in the summer.

Greenwich proved to the biggest riser in average rent, with monthly costs for tenants growing by £338 and hitting an average value of £1,397 per month. Rentify attributes this to an influx of students as the new university year begins. Other areas that experienced considerable uplift include Brent, with average rents in the north-west London borough growing by £201 to almost £1,500 per month.

LONDON’S TOP FIVE RENT RISERS – (from June to October 2015)

1-Greenwich – increase of £338 (average rent of £1,397 pcm)
2-Brent – increase of £201 (average rent of £1,493 pcm)
3-Newham – increase of £197 (average rent of £1,378 pcm)
4-Lewisham – increase of £194 (average rent of £1,305 pcm)
5-Lambeth – increase of £182 (average rent of £1,617 pcm)

LONDON’S MOST EXPENSIVE BOROUGHS TO LIVE IN (October 2015)

1-Westminster (avg. rent £2,182 pcm)
2-City of London (avg. rent £2,149 pcm)
3-Kensington & Chelsea (avg. rent £2,030 pcm)
4-Camden (avg. rent £1,836 pcm)
5-Hammersmith & Fulham (avg. rent £1,776 pcm)

LONDON’S CHEAPEST BOROUGHS TO LIVE IN (October 2015)

1-Bexley (avg. rent £1,064 pcm)
2-Croydon (avg. rent £1,114 pcm)
3-Sutton (avg. rent £1,118 pcm)
4-Waltham Forest (avg. rent £1,146 pcm)
5-Barking & Dagenham (avg. rent £1,192 pcm)

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