Listen, you don’t need us to tell you that living in London is spenny. But seeing the cold, hard, numbers can still be pretty eye-watering.
Research by estate agents Hamptons has revealed the average cost of renting a flat in each London borough, and damn, some of it ain’t pretty.
Topping the chart of pricey places to live is (probably unsurprisingly) Kensington and Chelsea, where it costs an average of £3,960 per calendar month to rent a flat. Close behind is Westminster, where it costs an average of £3,870 per month to rent. In third place, and costing significantly less, is the City of London, where flats cost an average of £2,760 per month in rent.
The east London boroughs of Tower Hamlets and Hackney, both popular with young people, have average rents of £2,280 and £2,130 per month, respectively. Meanwhile, the cheapest place to rent in the capital is Havering, where rent costs an average of £1,170 per month – just behind Bexley at £1,200 per month.
With hikes in energy bills, council tax, and broadband, not to mention inflated prices of food and travel, it’s likely that the cost of living squeeze could tempt some Londoners to seek out cheaper rent or move elsewhere to get more bang for their buck.
The figures confirm what we know already: moving to a tube zone further out will probably help save hundreds of pounds of your hard-earned cash. Obviously, that means more to spend on seven pound pints, sourdough and avocados.
Average monthly flat rent by London borough
Kensington and Chelsea: £3,960
City of London: £2,760
Hammersmith and Fulham: £2,610
Tower Hamlets: £2,280
Richmond upon Thames: £1,840
Kingston upon Thames: £1,510
Waltham Forest: £1,430
Barking and Dagenham: £1,220