Wednesday 3 August 2016 9:50 am

This map shows the average rental price for a double room in every London postcode

Renters of London, rejoice – for those punishing hikes in rent you've been experiencing since the downturn may have come to an end, new figures have suggested.

The average rent in the capital increased just one per cent year on year in the second quarter of this year, SpareRoom's London Rental Index has shown, compared with eight per cent between 2014 and 2015 (although there is also evidence to show the supply is falling).

There were a few exceptions – notably Abbey Wood, which is clearly gearing up for the arrival of Crossrail, with a 21 per cent spike in rents to an average of £564 over the past year, although the report did point out it is still one of the few areas with monthly rents of under £600.

Read more: Sadiq Khan's rent caps could benefit London landlords

Among the other areas experiencing the biggest rises were Barnes, Tooting, Mortlake and West Brompton/Chelsea.

Meanwhile, rental prices actually fell in a third of London postcode districts, led by the North West, where rents dropped four per cent, and West and East Central London, where prices fell two per cent. 

Average rental prices for a double room

Rents in central London are still punishing – but remain flat (Source: SpareRoom)

“London rents have risen under two per cent year on year for the second quarter in a row," said Matt Hutchinson, director of SpareRoom. 

"It’s too early to know if this is the start of a calmer period for the capital’s renters, or whether what we’re seeing is driven by uncertainty surrounding Brexit. Renters will certainly be hoping it’s the former."

Where to bag a bargain – the most and least expensive postcodes

  Most expensive   Best bargains  
1 EC4 – St Paul's £1,153 SE9 – Eltham £518
2 SW7 – South Ken £1,131 E12 – Manor Park £535
3 SW3 – Chelsea £1,044 E4 – Chingford £544
4 W8 – Holland £1,049 SE26 – Sydenham £545
5 WC2 – Strand/Holborn £1,034 SE6 – Catford £550
6 W1 – West End / Soho £1,003 SE7 – Charlton £554
7 SW10 – Chelsea £988 E7 – Forest Gate £554
8 W11 – Notting Hill £946 SE25 – Norwood £557
9 W2 – Bayswater £928 N20 – Totteridge £557
10 EC1 – Holborn £920 SE18 – Plumstead £557