Wednesday 1 February 2017 3:26 pm

Becoming a landlord? These are the most popular neighbourhoods for first time renters in London

Coming to London can be daunting, and perhaps the most daunting part about it is thinking about saving up to buy a house.

Young people in the capital are lucky if they get onto the property ladder at the age of 30, and until that day comes, they are forced to rent.

Choosing a good place to rent is about balancing location with price. So where are people looking? And where, more importantly, should landlords keep an eye on?

According to research by Hamptons International, Shepherd's Bush has the highest proportion of first time renters of any neighbourhood in London.

Read more: This is the only part of the country where house prices are falling

Nearly a quarter (23 per cent) of homes let out in Shepherd's Bush were let to first time renters, with an average rent of £1,417 for the property.

Other popular London neighbourhoods include Hornchurch (22 per cent first time renters), Winchmore Hill (21 per cent) and Enfield Highway (19 per cent).

First time renters are doing well to find cheap pockets of London. The average cost of renting a property London for the first time is £1,150, a 15 per cent reduction on the London average. And three quarters of first-time renters are spreading the cost by sharing with friends.

NeighbourhoodProportion let to first time tenantAverage rent paid by first time tenant
Shepherd's Bush23%£1,417
Hornchurch22%£825
Winchmore Hill21%£1,113
Enfield Highway19%£967
Sidcup18%£1,200
Worcester Park16%£1,200
South Tottenham15%£1,150
Romford14%£1,175
Sutton14%£968
South Croydon13%£969
Canary Wharf13%£1,450
South Norwood11%£988
Gants Hill10%£942
Bromley9%£1,393
Surbiton8%£1,063
New Southgate8%£1,100
Stratford8%£1,185
Lewisham8%£1,083
Chingford7%£957
Twickenham7%£1,250

Fionnuala Earley, residential research director at Hamptons International, said: "A few lucky Londoners leaving the family home for the first time are able to buy, but the vast majority take their first steps of freedom in the rental market.

"The cost of renting in the capital tends to mean first time tenants… head towards better connected corners of London where rents are well below the London average."

She said house shares don't last in the long term; tenants moving for the second or third time are twice as likely to choose to live alone.

Share