London Areas that Would be Worth Looking into if You are Renting
Junaid Iqbal Memon is a property developer that has been in the industry for many years now. With London and Dubai his considered bases, he is the man behind the Cloud 9 Group. He first started by learning the ins and outs of business from his business-minded family. Over the years, he decided to establish his own until he decided to foray into property development. To date, he has completed several development projects and has businesses that he owns and manages in London and Dubai.
London is never known for its cheap rents. But you will find that there are areas in the British capital that tend to be more affordable than others. If you are planning on relocating here at some point, and you are looking for a place to rent, it pays to know which areas to look at to find the best-priced properties out there.
According to a new report, the cheapest place to be renting a place at would be the Bexley borough. There is a catch to this, however. It is only going to be the cheapest if you will rent a place with three other people. A property with four bedrooms in Bexley will be rented out at an average of £1,633.52. If this is going to be divided between four people, then the rent costs that everyone is going to have to pay is significantly shaved down to just a mere £408.38 each. Based on the report, this is 35% cheaper than the usual costs that one must cover if he were to rent just a room in the capital, which could cost an average of £629 monthly.
The best ways to rent if you are living in various other areas in the capital are also detailed in the report. For instance, if North London is where you are most interested to rent a place at, you can get the cheapest rate there is at Enfield where, when shared with three other people, the monthly rent would just amount to £521.84. For South London, Croydon would be the best part where the average would be £508.41. If you want to stay in the west part of the capital, the monthly rent shared between four people would be at £498.44 and £895.85 is what you will need to cover if you share renting a house in central London with three people.
If you are not interested in living with as many people, then you would want to look into boroughs such as Sutton, Merton, Hammersmith, Fulham, and Ealing. These are places that might work for you because it would be cheaper to rent a property here if there are three of you sharing the costs. If you would prefer to share the property with one other person only, Kensington and Chelsea, Camden, and Westminster would be ideal.
The latest data reveals that rents in London are fast becoming stretched. One way for them to reduce the costs involved with their monthly rents would be to try and examine costs based on having flatmates to share the costs with. Also, if one was wise enough to move to the right borough, then it can have a profound effect on the costs involved in property rental. If done right, then it can potentially help one save some very notable amounts with the difference being only just a few miles.
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