Getting your money’s worth in the London rental market can be tough. Demand often outweighs supply, and people are left competing for a place to call their home. Ok, so that might paint a pretty drab picture for the rental scene in London, but it doesn’t have to be that way.
Despite England’s capital being one of the most popular cities to live in the world, it’s still possible to source great deals. How, you ask? We’ve been in the Movebubble labs stirring up a little concoction.
Or, in other words, we looked at data to tell us which areas in the Big Smoke have a supply of properties higher than demand and where the rental price is in line with expectations. Of course, less demand doesn’t equate to a bad area. Quite the opposite, in fact.
These just happen to be postcodes where you can currently find a good deal in terms of area location and value.
We’re not sure how many people knew much about Colindale 10 years ago. But since the construction of Beaufort Park, the high-end residential development, and a plethora of amenities, this area of North West London has firmly landed on the map.
A tube station on the Northern Line offering direct access into the West End in 25 minutes is a huge draw – while Brent Cross Shopping Centre is a 10-minute bus ride away. As for the properties, expect to find new homes in developments with all the works – a concierge, gym, swimming pool and a spa.
But what about those rents? A one-bedroom home will cost around £1,300 per month, a two-bed property averages £1,500, while a three-bed is just under £1,900.
London postcodes don’t come much more village-y than Highgate. The peaceful surroundings and excellent schools make N6 a favourite with families. But you don’t need to be married with children to get the most out of the area.
If boutique shops, delicious patisseries, gastropubs and quaint cafes are your thing, this North London town might just be the place for you. Oh, and let’s not forget the acres of open space. From Hampstead Heath to Highgate Wood, scenic strolls will undoubtedly become a way of life N6.
The average price for a one-bedroom property in Highgate is £1,350 per month. There is a slight jump for two-bedroom homes, with properties averaging £1,900 per month. While a three-bed costs in the regions of £3,620.
Silvertown (Royal Docks), E16
If you can get past the fact that everything isn’t actually doused in silver, you’re left with an area that once formed the world’s largest enclosed dock. Set to the backdrop of a watery landscape, Silvertown is a relatively new area in London and has benefitted from recent regeneration.
Properties come in the form of new, shiny residential developments and warehouse conversions, giving E16 a strong maritime vibe. Once the Elizabeth Line arrives later this year, Canary Wharf will be within a three-minute reach – ideal for those working in E14.
There are good deals to be had in E16, especially considering most of the properties are brand new. One-bedroom flat command £1,400 per month, two-beds cost around £1,670, and three-bedroom homes are on the market for £2,090.
East Ham, E6
West Ham may be the more famous town due to the Premier League football club, but it’s the east side that offers rental value. Property in the area mainly comes in the form of Victorian and Edwardian conversion located on tree-lined streets.
In fact, East Ham leans heavily on the residential side and has a good community vibe. There are plenty of open spaces, including East Ham nature reserve. Travel connections come in the form of East Ham and Upton Park, both of which are on the District and Hammersmith & City lines.
A one-bedroom property in East ham fetches around £1,045 per month, two-bedroom homes average £1,330, and a three-bedroom place will command in the region of £1,690.
Woolwich has recently benefited from significant regeneration which has brought a modern vibe to SE18. Thousands of new homes have sprung up over the last few year, offering renters plenty of choices. Thanks to convenient travel connections, Woolwich is attracting a young professional crowd.
The Elizabeth Line (formerly Crossrail) is set to open this year, bringing even more connections to the area. But what about the amenities? Woolwich town centre benefits from supermarkets and a host of market stools dotted in the area.
As for rental costs, a one-bedroom property generates around £1,160 per month, while a two bed will cost about £1,430. Three-bedroom and up properties average around £1,550. There are many new developments in Woolwich.
Putney is a traditionally trendy area thanks to its riverside setting and close links to Fulham and Chelsea. Not to mention that it’s only six miles from central London. This south-west London neighbourhood also benefits from good schools and plenty of open spaces.
Travel connection come in the form of East Putney and Putney Bridge tube stations, which are on the Wimbledon branch of the district line. A local train station also offers services to Waterloo in around 15 minutes.
Rental prices are slightly higher in Putney than other areas on this list, yet still offer competitive costs when you factor in location. A one-bedroom property earns around £1,450 per month. A two-bed will set you back around £1,800 and a three-bed commands £2,780.
While not technically located in London, Bromley is an honorary member of the capital. After all, fast trains from Bromley station reach London in less than 30 minutes, which is quicker than some London postcodes.
Bromley town does resemble an out of London area in the sense that there is a traditional old town, pedestrian-only shopping street and a large shopping centre. All of these are inherently good reasons to consider moving to BR2.
Another appealing factor is rental costs. One-bedroom properties average just over £1,000 per month, two-bed properties achieve £1,330, and three-bedroom homes earn £1,640.
Another London outskirts area, Isleworth is located on the west side of London and appeals to both families and young professionals. Located only 10 miles from central London, expect to find a village flavour in Isleworth.
Vehicle owners benefit from easy access to the M4, which offers a quick route to Heathrow – weekend getaway, anyone? Nearby Osterley train station is on the Piccadilly Line, while Isleworth has trains to Waterloo in just under 40 minutes.
One-bedroom homes achieve £1,070, two beds fetch around £1,375 and three-bedroom properties average £1,725 per month.
Despite the stigma that London is overpriced and overpopulated, it’s clear there are more than a few good deals available. What do you think about the postcodes we’ve covered in this list? Sound-off with your comments below and whether you believe these postcodes represent good value money.