London house prices: The capital's renters are £300 a year poorer this year than last (and the south east is increasing fastest)

 
Catherine Neilan
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Report Warns Average Deposit For First Time Buyers In London To Rise To Over 100,000 GBP By 2020
London's rents are still on the rise (Source: Getty)

London's renters are £300 a year worse off this year than last - and those living in the south east of the capital are faced with the highest price rises - a new report has claimed.

The monthly cost of a room in London has risen 3.5 per cent in the last 12 months to £743, according to data compiled by flatshare site SpareRoom.com.

Rent rises are slowing - they rose 9.5 per cent the year before - but some pockets are still showing signs of rapid growth.

Although south east London is still the cheapest part of the city to live in, it is experiencing the fastest rise in growth, with average prices rising 6.6 per cent.

The cheapest place to rent a room in the capital is SE18 (Plumstead/Woolwich), where an average room goes for £550 per month, while SW7 (South Kensington/Knightsbridge) is the priciest at £1,213 per month.

Meanwhile, E14 Canary Wharf/Docklands) has the most supply - there were 8,968 rooms available for rent in the fourth quarter of 2015. Conversely, supply is lowest in EC4 (St Paul’s), EC3 (Aldgate) and SW13 (Barnes).

Fastest rising rents in London

1. EC2 up 22% (£919)

2. SW10 up 16% (£1031)

3. N12 up 14% (£663)

4. SE19 up 14% (£637)

5. W4 up 13% (£880)

6. NW7 up 12% (£663)

7. EC3 up 12% (£771)

8. SE21 up 11% (£689)

9. SE2 up 11% (£555)

10. SE11 up 11% (£849)

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