London rent prices: which areas have the highest and lowest average prices?

When you’re thinking about purchasing a buy-to-let property in London, the amount of rent you’re likely to receive each week is an important consideration.

While it will of course be offset by your buy-to-let mortgage, if you have one, the cost of rent, as well as the type of property, will influence who your property appeals to and how easy it will be to let.

What is the average rental price in London?

The average rental price in London is £665.87 a week, but it can vary from £179 to £7,474, depending on location and number of bedrooms, among other factors.

Here, we’ve broken down the average rental prices across London based on the number of bedrooms a property has, with data provided by Rent Barometer.

Average rental prices for one bedroom and studio properties in London

One bedroom and studio properties are often popular with young professionals moving to the capital or deciding to strike out on their own.

Low rental prices can often be a boon for these sorts of properties, as they’re likely to appeal to those who are renting by themselves - dependant on location, of course.

Anerley, Walthamstow, and Crystal Palace have some of the lowest average rents in the capital for studio and one bedroom properties. If you’re looking to appeal to young professionals, properties in those areas with good transport links could be a worthwhile investment.

On the other hand, the highest average rents in London for studio and one bedroom properties can be found much closer to the centre. Bond Street and Mansion House top the list, with Bank and Soho tied for third place.

Highest average rental prices for studio and one bedroom properties in London

These are the areas in London with the highest average weekly rent for studio and one bedroom properties.

Location Studio One bedroom
Bond Street, W1K £1,155 £745
Mansion House, EC4N £889 £951
Soho, W1 £555 £1,223
Bank, EC3 £844 £934
Mayfair, W1 £739 £720

Lowest average rental prices for studio and one bedroom properties in London

These are the areas in London with the lowest average weekly rent for studio and one bedroom properties.

Location Studio One bedroom
Anerley, SE20 £199 £236
Crystal Palace, SE19 £183 £253
Walthamstow, E17 £208 £236
Croydon, CR0 £212 £236
Brockley, SE4 £184 £265

Average rental prices for two and three bedroom properties in London

Two and three bedroom properties have a varied audience. From families to sharers, the type of tenants you’re likely to get in these properties will depend more on other features (such as outdoor space and bedroom size) as well as local services.

If you’re looking to invest in a two or three bedroom property, then the south of London isn’t likely to pull in a lot of rent. Sydenham, Eltham, and Morden, are bottom of the list for weekly rent for two bedroom properties, with Bromley and Woolwich joining Eltham in the bottom three for three bedroom properties.

However, head south of the river and you’re likely to find some of London’s buy-to-let hotspots as, though the rental prices are low, the yield is high. On top of that, if you’re interested in capital gains, places like Bromley could be exactly what you’re after.

At the other end of the spectrum, Green Park ties with Piccadilly Circus at the top for the highest average rental yields in London, closely followed by Central London locations.

Highest average rental prices for two and three bedroom properties in London

These are the areas in London with the highest average weekly rent for two and three bedroom properties.

Location Two bedroom Three bedroom
Green Park, W1J £2,002 £3,823
Piccadilly Circus, W1J £2,002 £3,823
Mayfair, W1 £1,635 £2,903
London Bridge, EC4R £1,074 £3,250
Bank, EC3 £1,061 £3,126

Lowest average rental prices for two and three bedroom properties in London

These are the areas in London with the lowest average weekly rent for two and three bedroom properties.

Location Two bedroom Three bedroom
Eltham, SE9 £280 £300
Bromley, BR1 £315 £326
Anerley, SE20 £318 £362
Woolwich, SE18 £332 £353
Sydenham, SE26 £273 £427

Average rental prices for four and five bedroom properties in London

Four to five bedroom properties can be trickier to rent, and are often more likely to be occupied by students and sharers than families. If you do rent to four or more sharers then you must have an HMO license, so keep that in mind when considering purchasing a property of that size.

The east and south-east of London dominate when it comes to low rental averages for four and five bedroom properties, with both Stratford and Wanstead taking a place in the top three.

On the other side, it’s the south west where you’re most likely to find the highest average rental prices for four and five bedroom properties. Belgravia comes at the top of the list, followed by Westminster and Victoria in second and third place respectively.

Highest average rental prices for four and five bedroom properties in London

These are the areas in London with the highest average weekly rent for four and five bedroom properties.

Location Four bedroom Five bedroom
Belgravia, SW1 £4,381 £7,474
Westminster, SW1E £2,005 £4,980
Victoria, SW1W £2,426 £4,762
Sloane Square, SW1W £2,383 £4,685
Warren Street, NW1 £2,467 £4,297

Lowest average rental prices for four and five bedroom properties in London

These are the areas in London with the lowest average weekly rent for four and five bedroom properties.

Location Four bedroom Five bedroom
Stratford, E15 £487 £577
Forest Hill, SE23 £501 £669
Wanstead, E11 £583 £600
Brockley, SE4 £577 £680
Blackheath, SE3 £731 £531

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