London Rental Property Hotspots - 5 Areas with the Lowest Rent

London Rental Property Hotspots

With the number of different locations that reside in locations along with the huge discrepancies in real-estate prices between them, people can oftentimes be left confused wondering exactly where the more affordable locations in London are situated.  

It is certainly true that the prices of rent vary drastically between the different sections of London which leads to people being unsure of where to rent, and that’s exactly what we are going to attempt to remedy in this article.  

In this article, we will be going through the five areas in London that have the lowest renting costs, as well as whether or not said the location would be a good choice to relocate to. 

rental properties

5 – Sutton 

Taking the number 5 spot on our list is Sutton.  

Located in the south of London which is known for being one of the cheaper locations in London, Sutton offers relatively affordable homes as well as 1–2-bedroom flats. 

Throughout Sutton, there are a handful of peaceful green spaces and leisurely areas, and for your paying, Sutton offers a whole lot of bang for its buck.  

Sutton would make a great location for someone who is looking to live in London for relatively cheap, while still getting access to some rather good amenities.  

Cost of a 1-bedroom flat (PCM): £926 (approx.)

Cost of a 2-bedroom flat (PCM): £1,260 (approx.)

4 – Barking/Dagenham   

Barking/Dagenham is located in the North-Eastern section of London and is known for offering some of the most affordable three-bedroom houses throughout the whole of London.  

There is also an abundance of 1–2-bedroom flats up for grabs in Barking/Dagenham, which is a rarity to find in any London borough. 

This means that for new families, Barking/Dagenham can be the perfect place to buy your ideal home.  

Cost of a 1-bedroom flat (PCM): £999 (approx.)

Cost of a 2-bedroom flat (PCM): £1,247 (approx.)

3 – Croydon  

Located in South London, Croydon is a rather large location and takes up a relatively large portion of London.  

Even though Croydon is known for being one of the more affordable areas of London, it still has access to a plethora of desirable features such as being situated close to the centre as well as walking distance from the seaside and countryside.  

There are always available homes as well as 1-bedroom flats and 2-bedroom flats in Croydon, and it is a popular choice for new settlers. 

Croydon is infamous for the decorated street art that can be seen throughout the whole of the Croydon area, which is known to draw a vast number of artists and creative types alike.  

Cost of a 1-bedroom flat (PCM): £917 (approx.)

Cost of a 2-bedroom flat (PCM): £1,315 (approx.)

2 – Havering  

Havering is situated in the East of London, as well forming parts of outer London. 

Taking the number two spot on our list, havering has some of the most affordable housing out of the whole of London. 

There are rental properties up for grabs in Havering, and finding a 1-bedroom or 2-bedroom flat will not be a troublesome task.

Havering is mostly known for having a plethora of large open protected areas, which is something that is loved by the residents. 

 
Overall, Havering can provide the perfect place for people who are looking to move to London for a reasonable price tag, while also having access to large open spaces, perfect for leisurely activities.  

Cost of a 1-bedroom flat (PCM): £863 (approx.)

Cost of a 2-bedroom flat (PCM): £1,152 (approx.)

1 – Bexley 

Located in South East London, Bexley makes up a major part of the outskirts of London.  

Of course, this is why its prices are so cheap compared to the rest of London. Although, Bexley is one of the safest boroughs out of London, making it perfect for families.  

Due to the quiet nature of Bexley and its distance from the centre, Bexley can be the perfect location for elderly couples who want to be in a short distance to London but don’t want the hectic things that comes with central London, or new families looking for a flat with 1 bedroom or 2 bedrooms or a home to safely raise their children in, in a not so expensive location.  

Cost of a 1-bedroom flat (PCM): £823 (approx.)

Cost of a 2-bedroom flat (PCM): £1,119 (approx.)

You can check out the rentals in London here: https://www.comparemymove.com/blog/your-move/cheapest-areas-to-rent-in-london 

 

Conclusion 

It can be a struggle to figure out what the more affordable areas in London are, and in reality, to get a rental property anywhere in London you are more than likely going to have to pay higher than usual prices.  

However, the areas which we have listed in this article are going to give you the best chance of getting a rental property for a relatively affordable price within London. 

If you are interested in getting a property in any of the areas we mentioned as well as London as a whole, feel free to take a look through our website. At TRPE – The Real Property Experts, we have listings from all over London, including numerous rental properties in the areas we mentioned throughout this article.  

If you have any questions, feel free to get in contact with us.  

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Fees

Refundable Holding deposit

Capped at 1 weeks rent

Security Deposit

Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent

The agreed monthly rent

Changes to tenancy

Capped at £50 inc VAT

Early termination charge

Not exceeding the landlord’s financial losses

Late payment of rent

Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys

Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc

Tenants own responsibility unless otherwise stated in contract

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