London rent prices rise in leafy south east while Kensington sees drop

Lynsey Barber
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Greenwich park attracts renters to the leafy suburbs of South East London (Source: Getty)

Rental prices in London have jumped by nearly 7 per cent with the south east London boroughs of Bromley, Bexley and Greenwich experiencing the biggest rises.

The price of a room rental in the capital has jumped above the £600 mark, hitting £609 on average over the year to June, up from £571 the previous year.

Bromley's room rental prices jumped by 20 per cent, the biggest rise in London, followed by neighbouring boroughs Greenwich, up 17 per cent, and Bexley, up 14 per cent this year compared to 2013.

Meanwhile, boroughs in West London, home to many of the capital’s priciest properties, experienced a slight fall in price as renters looked elsewhere.

The average room rental price in upmarket Kensington and Chelsea dropped three per cent, though it still remains one of the most expensive locations in the city.

Prices in Hammersmith and Fulham, Westminster and Richmond also remained largely flat.

Room rental price rises 2013-2014 by borough

The figures were calculated by room rental site Kangaroom which bases prices on indexes from Gumtree, Craigslist, MoveFlat, EasyRoommate and Roomster.

Kangaroom founder Jinder Sidhu puts the rises in the south east down to the draw of green spaces and increasingly good travel links as renters look to cheaper locations further afield.

Sidhu said the move away from more expensive boroughs "created huge demand for good rental housing in these areas and big rental increases that are squeezing London’s renters ever more. But there is good news, popular and well-linked suburban boroughs such as Croydon, Sutton, Ealing, Merton and even Richmond have stayed more static and still represent good value for London’s price conscious renters.”

Here's how the boroughs compare on average rental price in 2013 and 2014.

2013 average room rental price by borough

2014 average room rental price by borough

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