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Finally, a glimmer of good news for London renters. Flatsharing website SpareRoom has found that the city's skyscraper-high rents could soon be cooling off. According to its latest London Rental Index, rent has risen just two percent in the last 12 months, compared to a seven percent increase between 2014 and 2015. And the news gets better, with rents in east central and west London falling by one percent in the last year.
But it's not all good news. London still retains its status as the most expensive city for renters in the UK (surprise, surprise), but at least it's moving in the right direction.
The table below should come in handy for anyone looking to move, as it shows the least and most expensive areas to rent in London, with St Paul's topping the table for bank-breaking rent while the cheapest rooms were found in Abbey Wood, SE2.
We'd advise avoiding Clapham – and not just to give Infernos a wide berth. The area has seen an unsavoury 13 percent rent increase year on year, pushing monthly rates up by a staggering £100 to £845.
East and south east London are prime spots for rooms below £550 per month, with average rents in Abbey Wood, Thamesmead, Manor Park and Catford coming in at less than £550.
But the research suggests that east London is the place to be as, alongside quirky pop-ups, artisan coffee shops and craft beer breweries, it contains almost half (46 percent) of London's total room supply for renters, which explains why your morning Overground journey is always so busy.
Photo: Carolyn Eaton/ Flickr
Want more property news? Three-quarters of London homes are inadequate, apparently
And this Monopoly-style map shows how unaffordable London property is