Renting in London: Only 2 postcodes remain below £750

Renting in London has never been cheap, and it’s not set to get any cheaper any time soon as there are now just two London postcodes that still offer an average rent of £750 a month.

It comes as the latest figures from Homes & Property, owned by houseshare portal SpareRoom, found that the cost of rent has quickly risen. 

With it finding London’s more affordable area’s have seen a sudden rise in rent that is disproportionate to many other areas. 

At the start of the year, there were still a number of postcodes that had an average rent of below £700. 

However, now into the year’s second quarter, there are just two postcodes where the rent is now below £750 a month. 

London’s rental prices are not getting any cheaper. (Image: PA)

London’s cheapest postcodes where renting costs less than £750

At the start of the year, the four postcodes where rent was below £700 a month were South Norwood, SE25, Manor Park, E12, East Ham, E6 and Chingford, E4.

Although rent has increased in all areas, the two below £750 are Manor Park, E12 and Thamesmead, SE28. 

Manor Park, E12

Manor Park has the cheapest rent, coming in at £714 a month. 

The area is described as having acres of great parklands, transport links, an independent business owned by generations of families and much more. 

Plus the opening of the Elizabeth Line means it’s just 16 minutes from Liverpool Street. 

Thamesmead, SE28

The south-east borough of Thamesmead is set between Bexley and Greenwich and is mostly made of social housing. 

Thamesmead is just 11 miles away from Charing Cross and was created for overcrowding purposes and to give homes to more families.