New data sourced from RentTech company Goodlord reveals the cheapest places to rent within one hour of a central London mainline train station.
With the cost-of-living crisis and government changes adding further strain to agents, landlords, and tenants alike across the rental sector, rent prices โ especially in the capital โ have soared in recent months.
In fact, Goodlordโs database of over 1,000 letting agencies revealed that rent in Greater London recently hit a record high of ยฃ2,055 per calendar month and is currently 13% more expensive than this time last year.
To help prospective renters cope with costs and find the best deals, Goodlordโs rental experts have calculated the cheapest places to rent within one hour of Waterloo, Euston, Kingโs Cross/St Pancras, London Fenchurch Street, Liverpool Street, London Victoria and London Bridge stations.
Waterloo
- Basingstoke: average monthly rent of ยฃ872 with services as fast as 51 minutes via South Western Railway from Basingstoke station
- Aldershot: average monthly rent of ยฃ1,049 with services as fast as 49 minutes via South Western Railway from Aldershot station
- Farnborough: average monthly rent of ยฃ1,070 with services as fast as 38 minutes via South Western Railway from Farnborough Main station
For those looking to be even closer the likes of Surbiton (ยฃ1,345), Feltham (ยฃ1,232), Walton-on-Thames (ยฃ1,281) and Weybridge (ยฃ1,412) stations all offer services under 35 minutes into Waterloo.
Euston
- Rugby: average monthly rent of ยฃ705 with services as fast as 60 minutes via Avanti West Coast Railway from Rugby station
- Bletchley: average monthly rent of ยฃ903 with services as fast as 39 minutes via West Midlands Railway from Bletchley station
- Milton Kenes: average monthly rent of ยฃ1,073 with services as fast as 34 minutes via Avanti West Coast Railway from Milton Kenes station
For those looking to be even closer, between Harrow and Stanmore and South Oxhey (Watford) would be a good choice, with Harrow & Wealdstone (ยฃ1,337) and Bushey stations (ยฃ1,424) offering services under 20 minutes, respectively.
Kingโs Cross/St Pancras
- Peterborough: average monthly rent of ยฃ667 with services as fast as 51 minutes via London North Eastern Railway from Peterborough station
- Bedford: average monthly rent of ยฃ677 with services as fast as 51 minutes via Thameslink from Bedford station
- Arlesey: average monthly rent of ยฃ823 with services as fast as 48 minutes via Thameslink from Arlesey station
For those wishing to be even closer, Potters Bar (ยฃ1,336), Luton (ยฃ834), Stevenage (ยฃ883) and Letchworth Garden City (ยฃ968) stations all offer services under 35 minutes.
London Fenchurch Street
- Southend-on-sea: average monthly rent of ยฃ890 with services as fast as 40 minutes via c2c Railway from Tilbury Town station
- Basildon: average monthly rent of ยฃ970 with services as fast as 37 minutes via c2c Railway from Basildon station
- Grays: average monthly rent of ยฃ991 with services as fast as 37 minutes via c2c Railway from Grays station
For those wishing to be within striking distance, Barking (ยฃ1,349) and Stratford (ยฃ1,666) both offer 15-minute (and under) services from Barking and West Ham stations respectively.
Liverpool Street
- Manningtree: average monthly rent of ยฃ836 with services as fast as 59 minutes via Greater Anglia Railway from Manningtree station
- Witham: average monthly rent of ยฃ868 with services as fast as 49 minutes via Greater Anglia Railway from Witham station
- Colchester (Kelvedon): average monthly rent of ยฃ966 with services as fast as 52 minutes via Greater Anglia Railway from Kelvedon station
For those looking to be closer, between Dalston and Hackney (ยฃ1,924) would be a good area to look in, with Hackney Downs station offering services as fast as 11 minutes. Cheaper alternatives are Romford (ยฃ1,098) or Tottenham (ยฃ1,635) both of which offer services under 30 minutes from Romford and Tottenham Hale stations respectively.
London Victoria
- Chatham: average monthly rent of ยฃ910 with services as fast as 50 minutes via Southeastern Railway from Chatham station
- Gillingham: average monthly rent of ยฃ939 with services as fast as 60 minutes via Southeastern Railway from Rainham (Kent) station
- Rochester: average monthly rent of ยฃ947 with services as fast as 46 minutes via Southeastern Railway from Rochester station
For those wanting to be closer Bromley (ยฃ1,208), Sydenham (ยฃ1,268) and Peckham (ยฃ1,545) are areas to consider, with under 20 minutes services offered at Bromley South, Penge East, Nunhead and Peckham Rye stations respectively.
London Bridge
- Gravesend/Northfleet: average monthly rent of ยฃ941 with services as fast as 55 minutes via Southeastern Railway from Northfleet station
- Crawley: average monthly rent of ยฃ970 with services as fast as 55 minutes via Thameslink from Ilfield station
- South-east London (Southend and Lower Sydenham): average monthly rent of ยฃ1,012 with services as fast as 15 minutes via Southeaster Railway from Catford Bridge station
Wallington (ยฃ1,058), Lee and Chinbrook (ยฃ1,136), and Bromley/Plaistow (ยฃ1,208) also all offer services under 30 minutes from Wallington, Grove Park, and Hither Green stations respectively.
Commenting on the current state of the rental market and the new data, Tom Mundy, COO and co-founder of Goodlord said: โAs inflation hits a 40-year high, weโre seeing more tenants impacted by higher rents. Couple this with the lack of rental stock currently available and itโs fair to say that trying to find a rental property, within a specified budget, is proving extremely difficult right now.
โSince Covid-19 a record number of Londoners have left the capital, but many are still commuting into central stations multiple times a week. For many of these renters, even finding affordable accommodation within one hour of London can be difficult, but there are options available for renters looking to get the most for their money.โ
Leave a Comment