Properties to Rent in Walworth London from Private Landlords (2024)

FAQs

Why are there so few properties to rent in London? ›

The reduction in listings has come amid a period of soaring rents, with the report finding asking prices on lettings are now 20 per cent above their pre-Covid level. The slump has been caused by a range of factors including landlords leaving the sector or reducing rather than expanding their portfolios.

The cheapest place to rent in London is in the Bexley area according to recent studies, with an average rent of £1100 per month spread across various property types and bedroom sizes. One might be surprised at this, considering Bexley is a hotspot for student accommodation, easily within reach of the city centre.

The average rent in London is now £2,121 per month after +4.2% growth in the last year. The cheapest average rent is in Bexley (£1,520) and the highest average rent is in Kensington and Chelsea (£3,459), although rental increases are slowing in the most expensive parts of the city.

As we said, finding flats to rent in London is hard but don't give up hope. You can check out our guide to some of the best places to live in London to gain inspiration. There are plenty of great places to live around the city so keep a positive attitude and you will find the right place for you.

Towns including Trowbridge, Folkestone and Hungerford as well as cities such as Oxford, Winchester and Bath have experienced waves of “down from London-ers”. “More London renters are leaving the capital than we've seen for quite some time,” says Aneisha Beveridge, the head of research at Hamptons.

Average salary in London by age

The average salary for someone aged 18 to 21 is £22,693 and this increases to £35,386 for those aged 22 to 29. The highest average salaries are for those in their forties with an average annual amount of £50,963.

Sutton takes the crown as the cheapest place to live in London for November 2023. While the average monthly rent for a two-bedroom property in Sutton is the same as the next four contenders, Sutton wins out owing to a lower overall average.

PCM stands for Per Calendar Month. If rent is taken PCM, it means it is taken on the same date every month. This metric assumes that the occupier is in the property for 30 days.

You have the 'right to rent' if you have the right to live in the UK. You can pass a right to rent check by showing you have the right to live in the UK. Landlords and agents must check the immigration status of adults who will live in the property before a tenancy starts.

written abbreviation for per calendar month: used in advertisem*nts to show how much someone must pay each month for rent, or how much someone earns: Brixton Hill, largish room in friendly flat, £390 pcm plus deposit. My pay varies between £1,500 and £2,000 pcm.

What salary do I need to rent in London? ›

The general rule of thumb is that your monthly rent should not exceed 30% of your gross monthly income. However, in a city like London, where housing costs are significantly higher than the national average, it is recommended to allocate a larger portion of your income, around 35% to 40%, to cover rental expenses.

In mid-2024, for a single person, the average cost of living in London now clocks in at over £4,200 per month. This is around £1,650 more to find per month than the UK average. This means that the annual average cost of living in London for a single person is £50,400.

We've shown how a single person between 20-30 living alone in London is likely to require a salary of at least £48k to live a comfortable life. This is particularly prescient as it is considerably higher than the UK average of £39k and considerably more than the typical salary for someone in this age range.

Skyrocketing rental prices – in part caused by landlords having to deal with their mortgages going up – are pushing people to food banks and even homelessness as rent prices have soared 31 per cent since 2021, say Savills.

An imbalance between supply and demand as the main driver of record-high prices. Households are also facing rising energy bills and food costs as part of the cost of living crisis and there is no respite when it comes to housing costs.

Economic uncertainty and over-reliance on volatile developer funding slowed the delivery of new affordable homes. Government policy towards benefit claimants, refugees and asylum seekers worsened homelessness pressures, at a time when Londoners were already buffeted by the cost-of-living crisis.

According to the study from the London School of Economics and estate agents Savills, rental listings have declined across the city since the pandemic, with the number of one, two and three-bedroom properties listed to rent in inner and outer London declining by around 36% since the coronavirus pandemic.