Posts with tag: renting in london

What Can You Rent for £700 a Month Around the UK?

Published On: August 2, 2015 at 4:45 pm

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If you have £700 a month for your rent, there are many different options around the country for you. But beware, as prices differ greatly across the UK, some places have more on offer than others.

We have a look at the rental properties available at this price and what they offer:

London

Studio flat – £695

Location – Uxbridge

  • 5 miles from zone 6 tube station.
  • Private entrance to open plan kitchen and bedroom.
  • Open to single professionals and couples.
  • Bills included.

Attic room – £650

Location – Peckham

  • House share with three people.
  • 1-mile walk to zone 2 tube station.
  • Bills included.
  • The bed is within a cupboard.

 

Bristol

One-bedroom flat – £675

Location – City centre

  • 25 miles from city centre and Harbourside bars and restaurants.
  • Furnished living room and bedroom.
  • Communal laundry room.

House share – £340

Location – St Andrews

  • Three other housemates.
  • Bathroom plus extra toilet.
  • Close to Montpelier train station.

 

Cardiff

Two-bedroom flat – £675

Location – Cardiff Bay

  • Two double bedrooms with fitted wardrobes and one en suite.
  • Fully furnished.
  • Integrated kitchen appliances including dishwasher.
  • 2 miles from Cardiff Bay train station and 0.6 miles from Cardiff Central station.
  • Secure parking.

 

House share – £350

Location – C11

  • Sharing with four housemates.
  • Double bedroom with walk-in wardrobe and memory foam mattress.
  • Walking distance from city centre and Cardiff Bay.
  • Bills included.

 

Birmingham

Two-bedroom flat – £700

Location – Edgbaston

  • Exclusive development with private gardens.
  • Two double bedrooms.
  • Bathroom plus extra toilet.
  • Short distance from city centre and Edgbaston’s cricket ground.
  • Off-road parking.
  • Utility room with washing machine.

 

One-bedroom flat – £455

Location – Northfield

  • Spacious double-bedroom and living room.
  • Separate hallway.
  • Fitted kitchen with washer-dryer.
  • 6 miles from Northfield train station (18 minutes to city centre).

 

Liverpool

Three-bedroom house – £700

Location – Aigburth

  • Two double bedrooms and one single bedroom.
  • Feature fireplace and bay window in living room.
  • High ceilings.
  • Integrated kitchen appliances.
  • Enclosed back yard.
  • 3 miles to city centre.

 

Two-bedroom flat – £415

Location – City centre

  • Sharing with one other person.
  • Main bedroom has en suite.
  • Spacious kitchen with appliances.

Manchester

One-bedroom apartment – £700

Location – Salford Quays

  • 14th floor flat in the MediaCityUK development, home to BBC and ITV.
  • Fully furnished.
  • Private balcony.
  • 2 miles from Broadway tram stop.

 

One-bedroom flat – £550

Location – Chorlton

  • Spacious double bedroom.
  • Fitted kitchen with appliances.
  • Short walk to shops and cafes on Beech Street.
  • Short walk to large park.
  • 6 miles from Chorlton train station and 0.7 miles from Stretford tram stop.

 

Leeds

Three-bedroom house – £675

Location – Bramley

  • Two double bedrooms and one single bedroom.
  • Extra downstairs toilet.
  • 8 miles from Headingley train station.
  • Close to popular food market in the grounds of Kirkstall Abbey.

 

House share – £350

Location – Headingley

  • Sharing with three housemates.
  • Room has its own TV and Virgin TiVo box.
  • Room has a sofa and house has a living room with TV and Sky package.

 

Newcastle

One-bedroom apartment – £675

Location – City Road

  • Brand new flat in riverside High Quay development.
  • Walking distance from city centre.
  • Double bedroom.
  • Secure gated parking.
  • 5 miles from Manors Metro station.

 

Two-bedroom flat – £425

Location – Fenham

  • Two double bedrooms.
  • Separate living room.
  • Shared garden.

Glasgow

One-bedroom flat – £650

Location – Broomhill, West End

  • Large rooms.
  • Period fireplace.
  • Appliances in kitchen.
  • Short distance from bars and restaurants on Byres Road and Ashton Lane.
  • 3 miles from Hyndland train station.

 

One-bedroom flat – £550

Location – Shawlands

  • Double bedroom.
  • Top floor flat.
  • Short walk to Queens Park.
  • High ceilings and bay window.
  • 3 miles from Crossmyloof train station.

 

Plymouth

One-bedroom flat – £695

Location – New Millbay Pier

  • Double bedroom.
  • Bright, spacious rooms with large kitchen.
  • Private roof terrace.
  • Part-furnished.
  • Short walk to West Hoe Park.
  • 1 miles from Plymouth train station.

One-bedroom flat – £450

Location – Central Plymouth

  • Double bedroom.
  • Brand new shower room and kitchen.
  • Part-furnished.
  • Basement flat.
  • 1 mile to Plymouth train station.

 

London’s Top 10 Fastest Growing Boroughs

Published On: July 28, 2015 at 4:57 pm

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This month, London’s top ten fastest growing boroughs has seen great change.

Three newcomers have entered the list – Hounslow and Brent in West London, and Barking and Dagenham in East London – according to recent data from Land Registry.

All parts of London have experienced growth, with the borough of Hillingdon in West London, home to Heathrow Airport, rising eight places, and Enfield in North London and Bexley in South East London increasing by one position each.

However, Lewisham – a first time buyer hotspots close to Bexley – has dropped four places and Croydon in South London – another area popular with aspiring young buyers – has fallen two places.

Starting with tenth place, here are London’s top ten fastest growing boroughs:

Position

 Borough Average house price Annual change

Monthly change
10 Harrow £380,523 12% -0.2%
9 Barking and Dagenham £278,604 12.6% 0.8%
8 Brent £434,139 12.9% 0%
7 Lewisham £402,861 13.2% 0.6%
6 Bexley £292,804 13.4% 0.9%
5 Hounslow £379,481 13.9% 2.5%
4 Croydon £335,849 14.6% 0.4%
3 Enfield £342,958 15.1% 0.6%
2 Hillingdon £342,662 15.2% 1.2%
1 Newham £306,386 16% 1.4%

 

Tenants Cannot Find Affordable Homes in London

Published On: July 28, 2015 at 12:01 pm

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London could soon lose its labour workforce, as low-paid workers cannot find an affordable home to rent in the capital.

Flat and house share website SpareRoom has found that there is not one postcode classed as affordable for tenants on the London Living Wage. Affordable is described as the rent costing no more than 35% of take-home pay.

Even the cheapest areas for renting, including Thamesmead in SE28, are no longer reasonable for those on the London Living Wage of £9.15 an hour.

Tenant Cannot Find Affordable Homes in London

Tenants Cannot Find Affordable Homes in London

Often, tenants earning this salary must budget over half of their take-home pay for rent.

The average weekly income for a worker on the London Living Wage is £292.69 after tax. The average weekly room rent has increased by 6% in the last year, to £164.31, meaning that tenants must spend 56% of their net income on housing.

Tenants living in postcodes starting with W spend around £810 per month on a shared property.

In East London, the average monthly room rent is £676. In the N and NW postcode areas, average monthly rents are £635 and £721 respectively.

Apprentices could soon be priced out of the market altogether.

A room in London’s cheapest postcode district is £480 a month. This is £38 more than an apprentice earns.

Director of SpareRoom, Matt Hutchinson, says: “”We’ve reached a point where the housing crisis is driving the lowest paid workers out of the capital.

“Even the cheapest way to rent, flat sharing, is officially unaffordable to them across the whole of London.

“The sad irony is that those on the Living Wage are what keeps London ticking, and they need to be able to afford to live in the city that depends on them. Rising rents are forcing many to live hand-to-mouth or, increasingly, forcing them out.

“Apprentices are in an even worse position.

“London is quite rightly celebrated for its vibrancy, diversity and creativity. To protect that, we must make it affordable to live in; otherwise it’ll turn into nothing more than a theme park for the rich.”

Hutchinson urges: “The Government needs to take action to make sure the capital doesn’t face a labour shortage that could paralyse the heart of the British economy.”1 

1 http://www.propertyindustryeye.com/growing-crisis-for-tenants-faced-with-nowhere-in-london-they-can-afford/

 

 

London’s Zone 3 Property Hotspots

Published On: July 27, 2015 at 5:00 pm

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Young buyers are moving further away from central London and are seeking better value for money in zone 3. The following 20 hotspots have the best prices and commuting times in this area.

Position

 Area Average house price

Average travel time
1 Tottenham Hale £292,840 14 minutes
2 Stratford £324,608 13 minutes
3 Bromley-by-Bow £325,050 14 minutes
4 West Ham £274,640 17 minutes
5 Plaistow £276,416 18 minutes
6 Upton Park £251,564 21 minutes
7 East Ham £259,435 22 minutes
8 Leyton £348,128 17 minutes
9 Seven Sisters £360,232 17 minutes
10 Stratford High Street £332,676 19 minutes
11 Abbey Road £296,406 23 minutes
12 Star Lane £297,156 23 minutes
13 Stratford International £324,608 22 minutes
14 Blackhorse Road £363,169 20 minutes
15 Canning Town £355,320 21 minutes
16 Pudding Mill Lane £325,050 24 minutes
17 Beckton Park £240,055 33 minutes
18 King George V £248,850 33 minutes
19 North Greenwich £395,952 21 minutes
20 Royal Victoria £311,854 27 minutes

 

What You Can Rent for Under £1,000 a Month Around the World

Published On: July 25, 2015 at 10:00 am

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Categories: Landlord News

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The average rent price in London has now reached £1,500. It is no secret that private tenants in the UK are hit with spiralling rents, with little opportunity to get onto the property ladder.

Supposing that a renter is looking for very basic accommodation in London, this studio flat in Kensington can be let for £997 per month. But what would this rent (or less) get you in other parts of the world?

 

London, England: £997

Location: High Street Kensington

Specifications: Studio flat with bed, kitchen and toilet

Positives: Pleasant entrance hall

Paris, France: £854, €1,220

Location: 13th arrondissement

Specifications: 40 square metres of space, kitchen, toilet and shower room

Positives: Good for couples

 

Berlin, Germany: £875, €1,250

Location: Rosenthaler Platz

Specifications: Loft apartment with one bedroom and one bathroom

Positives: Plenty of space

 

Kathmandu, Nepal: £945, 150,000 Nepalese Rupees

Location: Sunakothi, Lalitpur

Specifications: House with four bedrooms and five bathrooms

Positives: Separate servant quarters, landscaped garden and swimming pool

 

Mumbai, India: £947, 94,000 Indian Rupees

Location: Poonam Nagar

Specifications: Three bedrooms, two bathrooms

Positives: Gym, swimming pool, jogging track and clubhouse

 

New York City, USA: £912, $1,425

Location: Prospect Park South, Brooklyn

Specifications: One-room apartment

Positives: Tenants can keep pets

 

Buenos Aires, Argentina: £947, 13,580 Argentinian Pesos

Location: Palermo Hollywood

Specifications: One bedroom, 1.5 bathrooms

Positives: Pool, gym and walk-in wardrobe

 

Shanghai, China: £597, 8,564 Chinese Yuan

Location: Xuhui district

Specifications: One bedroom, one bathroom

Positives: The flat has a Jacuzzi

 

Sydney, Australia: £920, 1,940 Australian Dollars

Location: Sydney’s central business district

Specifications: One bedroom, one bathroom

Positives: There’s space for a washing machine!

 

Moscow, Russia: £953, 85,000 Russian Rubles

Location: Aeroport district

Specifications: One-bedroom studio apartment, built-in stereo and large bathroom with sauna and bidet

Positives: The owner describes it as an LCD Airbus

 

Los Angeles, USA: £968, $1,512

Location: Downtown

Specifications: Studio apartment, one bathroom and a rooftop swimming pool

Positives: Grand chandelier in bedroom

 

Tokyo, Japan: £957, 185,000 Japanese Yen

Location: Suginami

Specifications: Three bedrooms and a living/dining/kitchen area

Positives: Hammock included

 

Nairobi, Kenya: £949, 150,000 Kenyan Shillings

Location: Westlands

Specifications: Two bedrooms, open-plan kitchen and great views

Positives: Two waterfalls in the complex

 

Cairo, Egypt: £788, 9,648 Egyptian Pounds

Location: 200 metres from the pyramids

Specifications: Four bedrooms, one bathroom and air conditioning

Positives: Great view of the pyramids

 

Cape Town, South Africa: £776, 15,000 South African Rand

Location: Sea Point

Specifications: Two bedrooms, one bathroom

Positives: Close to the sea

 

Rio de Janeiro, Brazil: £625, 3,107 Brazilian Real

Location: Santa Teresa

Specifications: Two bedrooms, one bathroom and a hammock

Positives: Located within an artistic neighbourhood

 

 

 

 

 

London’s Renters Move to Suburbs

Published On: July 22, 2015 at 5:07 pm

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Categories: Property News

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The soaring cost of renting in London is pushing private renters away from the centre of the capital. The London boroughs of Kingston, Bexley and Harrow are now experiencing the highest demand from prospective tenants.

Kingston upon Thames, South West London, attracts the highest amount of online rental property searches every day, with each advertised home being viewed online ten times per day.

This compares to just 4.6 views for properties in the City of London, which has the lowest rental demand, according to online property firm Rentify. The company has analysed data from all major property portals over the three months to the start of July.

Areas with the highest rental demand in London

Borough

Online views per property per day
Kingston 10
Bexley 9.9
Harrow 9.7
Sutton 9.5
Enfield 9.4
Bromley 8.9
Hillingdon 8.8
Croydon 8.7
Richmond 8.6

Greater London covers an area of around 600 square miles and has over eight million residents. It is one of the most crowded property markets of the UK. As the city is facing a serious housing shortage, affordable properties are harder to find in central London. This is pushing many people into the outer districts.

The average rent cost in Kingston is £1,326.49 per month, compared with £2,334.70 a month in the City of London, which is the most expensive area to rent in London.

Rents across the whole of London average £1,500 a month, however this varies hugely depending on the borough.

The second most popular area for rental searches is Bexley, South East London. Here, each property receives 9.9 online views a day. The borough has good transport links to inner London, but still has a suburban atmosphere, with over 100 parks and open spaces. It also has some of the most affordable rents in Greater London, with an average price of £1,026.20 per month.

Demand from students is high, due to the nearby University of Greenwich, amongst other colleges.

Amber Thompson is a 23-year-old dancer from Nottingham. She paid £390 a month to rent an ensuite room in a four-bedroom house between August 2013 and January 2015. In the past six months, she has been paying £650 per month for a tiny room on Tooley Street, near London Bridge. She is planning to move back to Bexley.

She notes: “Rent costs in Bexley aren’t anywhere near other areas in central London. You can find a decent-sized four-bedroom house here for £1,500 a month. However, it’s really competitive; the whole process took five or six weeks last time.

“Most viewings will have at least seven groups of prospective tenants looking round at once.”1 

The second most expensive area to rent in London is the City of Westminster, with an average price of £2,181 per month.

Unsurprisingly, demand is lower in this area, with properties attracting just five views a day.

Tom Dymond, a 26-year-old freelance photographer moved to Oxford Street around three years ago. He pays £1,600 per month for a one-bedroom flat, which took just two weeks to organise.

Borough

Average rent per month
Sutton £1,016.83
Bexley £1,026.20
Croydon £1,084.79
Kingston £1,326.49
Richmond £1,364.30
Hackney £1,451.79
Wandsworth £1,682.68
Kensington and Chelsea £1,875.22
City of Westminster £2,181
City of London £2,334.70

He says: “I didn’t find the process particularly competitive. The rents around here aren’t the cheapest and the flat had been on the market for a while. I used to live in Shepherd’s Bush and that was far more competitive. You could get 20 people turn up for a viewing.”1

Average rents around London

Kensington and Chelsea accounts for just 1% of the capital’s total area, but is another of the most expensive boroughs in London, with an average rent of £1,875 per month. Residents enjoy a thriving nightlife, including celebrity hotspot clubs.

However, the high cost of renting here is putting off aspiring tenants. Advertised properties attract just 5.3 online views per day.

Harrow, North West London, is an up-and-coming area. It is known for its independent school, but is also home to a range of semi-detached houses and flats with good transport links to central London.

The average rent here is £1,269.27 per month, a double-digit rise in the past year.

Chief Executive of Rentify, George Spencer, comments: “High rent prices in London are not a surprise anymore. But the figures show how tenants in certain areas of London are pretty desperate, sometimes visiting a property online up to 15 times a day.

“There is a severe housing shortage in the capital that becomes more evident in the peak rent season of late spring and early summer.”1

1 http://www.telegraph.co.uk/finance/property/11751951/Revealed-the-London-suburbs-sucking-in-cash-strapped-renters.html?utm_campaign=Landlords%20%26%20Property&utm_content=18064052&utm_medium=social&utm_source=twitter