London is a fantastic city that has so much going on that you can never be bored here. That is why house prices in London are ridiculously high. Despite the high house prices, you can find some affordable gems within the city; you just have to be aware of where to look. Here’s a guide to the average cost of a flat in London.
North London
North London has always been a popular area for people to live in, and it’s easy to see why. Starting with Camden Town, despite its huge tourist popularity, it’s also filled with lots of cafes, restaurants and bars to keep you occupied. It also has a strong music and fashion scene. This explains the high rent prices, with the average rental price of a two bed flat being around £2,513 a month.
Another North London area that has become more popular is Finsbury Park. Popular with recent graduates, gentrification has also attracted wealthier young professionals to the area. The most appealing aspect of the area is the 110 acres park, which hosts popular music festivals, like Wireless in the summer. Average rent prices here for a two bed flat are more affordable, at around £1,971 a month.
Angel is another popular area in North London. Filled with artistic and media professionals, this area has a strong cultural atmosphere without the tourists. It’s more central location is also very appealing, however, that makes it the most expensive place out of these three areas to live, with rent averaging for around £3,800 a month for a two bed flat.
West London
The ‘West is best’ saying is still applicable today, as this area of London has lots of beautiful parks, good schools and pretty architecture. One of the most desired places to live is in West London; Notting Hill. Unfortunately, you won’t find Hugh Grant working in a bookshop here, but you will find colourful houses and an area with a diverse history. Gentrification has led to rental prices rocketing since the 80s, but with the average rent being £2,764 a month, it’s not only to be dreamed about
Located just a mile west of Notting Hill is Shepherds Bush, the more affordable cousin. There’s just as much to offer here; a huge shopping centre, diversity and great transport links to make it a great place to live. The average rent is £2,166 a month, but with so many two beds to choose from you’ll be sure to find somewhere cheaper. The average cost of a flat in London isn’t always awful!
If you’re more into living the Made in Chelsea lifestyle, why not look into living in Fulham? This is where most of the tv stars reside, and its close connections to Sloane Square and Kings Road make it even more desirable. However, this will come at a price, with the average rent being around £2,721 a month.
East London
In recent years, East London has become a hub of young creative professionals and is still some of the more affordable places to live in London. You won’t ever be bored living in such a cultural hub, so why not move here and get some apples ‘n’ pears. If you’re a budding artist ready to move to London, you may have heard of Hackney. Artists Damien Hirst and Tracey Emin have made the area popular with European artists, and the area is bursting with creative people. A rental flat here will cost you on average £2,049 a month.
Hackney’s more affordable neighbour is Dalston, at around £1,958 a month for a flat. An up and coming area, Dalston has lots of restaurants, pubs and clubs and great transport links to other areas of London, making it a fantastic area to live. Get in there soon before its popularity raises the prices!
Since the redevelopment of Stratford for the 2010 Olympics, this area of the city has come alive and is a wonderful place to live. If you’re a nature lover, you’ll have the Hackney Marshes centre and lots of parks to visit. This is the most affordable area on this list so far, with rent costing around £1,729 a month.
South London
If you’re looking to live somewhere that seems more picturesque and somewhere that feels like you’re not actually in London, look at areas south of the river. Living in a place like Clapham, you’ll be living in an area with a 200-acre park and an excellent high street, so you get the best of both. Classed as one of London’s most loved areas, rent is going to set you back about £2,673 a month.
A more reasonably priced area of South London is Brixton. Recently renovated, Brixton is one of the cooler places in the south, with a unique atmosphere that doesn’t include an arty kids scene. A mix of families and young professionals live there, and the area has a strong community spirit. A flat there is going to cost you around £1,824 a month.
If you’re willing to move further out to save yourself some money, Croydon is a great area to look into. While being outside of any tube lines, it has a fast train to Victoria making a commute into central London reasonably painless. It’s also due for a £3.5 billion redevelopment in 2020 making it a soon to be desirable area, so move there while prices are low! At the moment, a flat to rent will cost you £1,360 a month, but be aware that will probably soon change. Take advantage of the average cost of a flat in London while you can!
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