Across the UK, the average rent price has increased by 10.8% since last Christmas, rising from £1,060 per month at the end of 2021 to £1,175.
Amid all the economic turmoil that has wreaked havoc across the rental property market, smart property investors are eyeing rental yields to a high degree.
Take a look at the best places to rent in London:
The E16 postcode, home to the Custom House Crossrail station, is currently home to an average rental yield of 4.9% – thanks to its popularity because of Crossrail. Excellent transport links have made the area a rental hub for both professionals and young families.
Isle of Dogs
Did you know? Isle of Dogs’ Mudchute Park and Farm boasts farm animals and stables… something unheard of in the hustle and bustle of the capital. Isle of Dogs’ mix of apartment blocks and old houses combined with average rents starting from £800 makes it a place renters are checking out.
Ealing is a popular location with renters, thanks to its variety of one-bedroom apartments to old, Victorian homes. The Broadway is a busy high street that offers a wide range of independent shops, cafes and restaurants that make it a good location for renters looking at prices that don’t break the bank.
At a cool £1,400 a month, you can rent a one-bedroom apartment in Brixton.The excellent travel links on the Victoria Line added to some of London’s best cafes, restaurants and not to mention the art deco Ritzy cinema, Brixton continues to be one of the most popular rental location in London.
This Jubilee line hotspot has made the neighbourhood one of the sought after locations for renters in the capital. According to Foxtons: “There are lots of modern riverside apartments on the banks of the Thames at Greenwich, while closer to Greenwich Station there are rows of charming cottages and a mixture of period architecture surrounding Greenwich Park. Dog owners, this is a great area for pet friendly London apartments.”
Croydon is known for its huge shopping centre, the much talked about “South End Restaurant Quarter” and a Tramlink which operates between Wimbledon, New Addington and Beckenham. Renters approach this area for its affordable prices and size of the flats and houses that range from studio living to five-bedroom homes.
Once known as a poor neighbourhood of London, Barking is an up and coming area of people making their first move to London thanks to its cheap rents and excellent transport links to central London. Barking is known for its authentic Indian, Bangladeshi and Pakistani restaurants and vibrant high streets.
Crystal Palace is known for its beautiful views of the London skyline because of its location on a hillstop. The area is a popular rental hotspot with one bedroom apartments being available for £1000. The area also boasts a good mix of nurseries, schools and Montessori academies.
Bethnal Green has benefited from all the gentrification that Shoreditch went through, making it a melting pot of all types of cultures around the world. An up and coming rental location to check out is Dressage Court which offers stylish apartments. Just a short 6-minute walk from Bethnal Green station and some of East London’s trendiest bars and restaurants.
Londoners with young families stuck in small flats are moving to Bromley to take advantage of small gardens with rental houses. What makes Bromley a rental go-to is its wide range of homes, everything from small Victorian cottages to large, detached, Edwardian houses; from Twenties detached houses to Thirties semis, period conversions and new-build flats.