London's most and least affordable homes for rent

Across the London rental market, there is an average difference of 5,869% in rental prices between the most and least affordable homes currently listed to let on Rightmove, although this climbs as high as 37,456% in some boroughs.

The latest research by MovingHomeAdvice.com, analysed current rental stock across every London borough, looking at the most and least affordable homes currently listed for rent.

The results demonstrate the vast gap between both ends of the capital’s rental market with Westminster currently home to the most notable.

The least expensive property to rent is currently a cosy studio flat in Westminster’s Sutherland Avenue, on the market for £750 per month. However, at the other end of the rental ladder, this five-bedroom penthouse on Park Lane in Mayfair will set you back £281,677 a month; that’s 37,456% more expensive!

In Kensington and Chelsea, this partially furnished studio flat is listed at £780 per month, while this six-bed house in Chelsea is on the market for £260,000 per month; another huge difference of 33,233%.

Barnet is home to the third most significant gap, with this studio flat listed at £650 per month while this epic four-bed home is on the market for 15,900% more at £104,000.

Camden is the only other borough where the percentage difference in renting tips five figures, with this studio flat up for £737 a month compared to £108,33 per month for this 10-bed house.

The City of London is the only borough where the bottom end of the rental market exceeds £1,000 per month. This snug studio apartment is on the market for £1,018 a month and, while the borough only ranks seventh in terms of the rental price gap, there is still a 7,943% difference when compared to this three-bed apartment (£81,900 per month).

Barking and Dagenham is home to the smallest gap between the top and bottom end of the rental market. This one-bed property is listed at £725 per month, while this two-bed flat is on the market for £2,900 a month. However, this is still a gap of 300%.

Property expert at MoveHomeAdvice.com, Russell Quirk, commented:

“The gap between the most and least expensive London rental properties is enormous and it really demonstrates the vast and varied options open to renters at all levels of the market.

Whether you’re starting your first job or reaching the top of the career ladder, looking for yourself or your family, there’s something out there for everyone.

Not only do prices vary dramatically, but the style and sizes of the properties do too, and there are some beautiful homes available to rent even in the more affordable price thresholds.

It also demonstrates the importance of researching the London rental market thoroughly when looking for a property. Yes, some areas are traditionally more expensive than others. However, there are plenty of options for all budgets so you might be surprised at what you can find.”

Attribution

• MovingHomeAdvice.com is a website providing the latest news, help and advice on the UK property market.
• MovingHomeAdvice covers everything from renting and landlord news to buying and selling, as well as covering the latest breaking industry news.
• MHA was founded by Russell Quirk and James Lockett in 2020.