Insure Now have investigated the best value postcodes for renters in London boroughs.
When you are looking to rent a property sometimes it is difficult to find good value in comparison with the quality of the property or even the neighbourhood. Boroughs seen to be the best areas tend to be terribly expensive and some boroughs which are described as fashionable areas to live in are excessive! We have selected 10 postcodes where the rent is below the borough average.
Not many tenants know that they can reduce their household rent each month if they move to another postcode within their borough, where the average price is much more economical. This is according to a report made by the online estate agent Emoov.
Those postcodes are called “bargain postcodes” although still expensive they are cheaper than other postcodes in the borough and offer relative value for those who wish to stay in or at least close to their preferred neighbourhoods.
The most famous houses in this area of the city including Buckingham Palace, St James’s Palace and 10 Downing Street. These are all found in the borough of Westminster as is Maida Vale.
Westminster also is home to Belgravia and Mayfair, affluent and fashionable areas of the borough. However, renters could have significantly lower rent in the borough of Westminster if they move to W9. Following a report from Emoov, the neighbourhood located in Zone 2 of London offers an average monthly rent of £3,303.00, almost 50% lower than the borough average of £6,433.00. Still, a very pricey place to rent!
Another great value of postcode is TW12. This Hampton postcode is in the borough of Richmond-upon-Thames. The average monthly rental price of £1,472.00 is almost 45% lower than the borough average of £2,566.00.
Nearby Kingston Upon Thames, is also a lovely area to live. In the KT9 postcode, it is almost 30% cheaper than the average for the Borough. The average rent for the KT9 postcode is £1,158.00 and the average rent for the Kingston Borough is £1,603.00.
Residents of both Kingston, Richmond and surrounding areas have the benefit of having Richmond and Bushy Park on their doorsteps. You can visit these beautiful parks, spot some wild deer or walk along the River Thames.
Kensington and Chelsea
W10 is home of Nothing Hill’s famous and well-loved Portobello Road market. The average rent is £2,723.00 a month, which is 40% lower than in the rest of this sought-after central London borough. This makes the postcode the third best-value for London renters who are looking for the most affordable place to live.
Hammersmith and Fulham
Not far at all from the previous postcode, the W12 postcode must be on this list as it is a 39% cheaper than the rest of the average prices in the area which are £2,253.00 per month and the average in W12 is £1,815.00.
The London Borough of Merton is a borough in south-west London not far from the delights of Wimbledon. If you are interested in renting in Merton, the most cost-effective area is SM4 where the average rent is £1,363.00 compared the boroughs average rent of £2,041.00 per month.
In north east London, Hackney is another hidden gem. The E10 postcode is a 32% cheaper at £1,424.00 compared to the average brought rent of £2,080.00.
With amazing views and the Meridian, Greenwich is also on this list. If you are interested in looking for a property in this area; look for it in the SE2 postcode. This postcode is almost 25% cheaper than the average rent, you’ll pay £1,098.00 compared to the average for the borough rent which is £1,444.00.
Ealing is the last one on our list. It is the third largest borough in London in population. The UB6 postcode is 20% cheaper than the average. You’ll expect to pay on average £1,272.00 per month compared to £1,586.00 for the rest of the borough.
Do not forget to insure your home contents. It doesn’t matter if you live in one of these postcodes or any other. We can give you the peace of mind you need. Find out your quote today!
If you want to see the full list of “Bargain postcodes” in all London brought, follow this link.