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TODAY'S OTHER NEWS

OnTheMarket reveals where and how it's cheap to rent in London

It’s a conundrum for many, especially those moving to the capital...but portal OnTheMarket claims it knows exactly where it is cheapest to rent in London.

It says living as a group of four adults in Bexley is the cheapest way and place to rent. 

The portal assumes the scenario of one person per bedroom, and looks across a sample of 41,000 one, two, three and four bedroom London properties which it listed over the past year. Studios and properties over £10,000 pcm were excluded. 

So for a four bedroom property in Bexley, the average monthly total rent is £1,633.52 but divided between four people, it is £408.38 each. 

This is 35 per cent cheaper than the average cost of renting a room in London - that’s £629 per month according to the government's private rental market statistics for the year to March 2018. 

In north London, living as a group of four in Enfield is the cheapest scenario at an average of £521.84 for each of the four tenants while elsewhere in the capital renting as a group of four in Croydon comes out at £508.41.

And in West London, living as a group of three in Hillingdon is the most cost-effective way to rent with an average cost of £498.44 per month for each tenant. 

Prices escalate rapidly in central London, where the cheapest location - again for a group of four - is Islington at an average rental cost of £895.85 per person.

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