Median rent for residential apartment in London, UK as of Aug, 2022.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
44,979 London, UK apartments for rent
London
London is one of the most iconic capitals in the world. It is hard to find a person who wouldn’t hear about its landmarks — Buckingham Palace, Big Ben, or Tower Bridge. London is a cultural center and a global economic hub. This city is old, new, imperial, and democratic at the same time. Don’t wait up — London is calling.
Overview
As Samuel Johnson once said, “By seeing London, I have seen as much of life as the world can show.” Nothing has changed over the past few centuries — this is one of the oldest and most cosmopolitan cities worldwide. Here you can find the most exclusive boutiques and shiny skyscrapers, as well as traditional pubs, medieval castles, and Victorian bridges. This attracts people from all over the world — London is the third most visited city worldwide in terms of international arrivals. It is the largest financial center with headquarters of major world corporations, most of which have offices in the renowned City. It is also the investment center with the sixth-highest concentration of ultra-high-net-worth individuals. In addition to this, London hosts hundreds of international conferences and summits annually. London has a superb infrastructure with one of the world’s largest and busiest airports and the oldest underground railroad system.
Business & Economy
London has the largest GDP per capita among all European cities and accounts for over 20% of the country’s GDP. What’s more, the GDP of this metropolitan area itself is larger than the GDP of Sweden or Austria. When it comes to real estate, London found itself on the list of the top five most expensive residential property markets worldwide, so any renter should be prepared for that searching for an apartment in London. The capital of the UK is a key financial center, alongside megacities such as Singapore, Tokyo, Hong Kong, New York, and Moscow. London has five large financial districts, with the most prominent being the City. It is home to a myriad of hedge funds, private equity firms, most international banks, and exchanges. The Canary Wharf, Southwark, and East London Tech City are major hubs for start-up technology companies and pride themselves on being a European Silicon Valley.
Culture
London has countless galleries, museums, and art institutions. Many of them have free admissions and serve as primary tourist destinations. One of the most notorious museums is the British Museum, located in Bloomsbury. It contains 7 million artifacts from around the globe, featuring antiquities, natural history specimens, and much more. Another place worth visiting is Albertopolis — a whole quarter packed with scientific and cultural establishments. This area is home to three legendary museums: Victoria and Albert Museum (collection of applied arts), the Science Museum, and the Natural History Museum. Moreover, London has a vibrant music scene. The city hosts music industry giants, such as Warner Music Group, Universal Music Group, and thousands of niche studios, recording companies, bands, and musicians. London features countless venues for rock and pop concerts as well as two major opera houses and four conservatories.
Demographics
London is a melting pot that competes in a diversity of its inhabitants with such international cities as New York and Los Angeles. According to the 2011 census, 3 million people, or 37% of London’s population, are foreign-born. This number of residents also makes London the third most populous city in Europe. London has the largest community of Indians, Nigerians, and Pakistanis in the UK. Also, it has the largest community of Lithuanians outside Lithuania.
Housing Trends
How much is an apartment in London, UK
Average rent in London: £3,968 (-2.1%)
| Rent Price | Aug | vs Last Month |
|---|---|---|
| Studio rentals | £10,523 | +105.2% |
| 1 bed rentals | £2,135 | -14.3% |
| 2 bed rentals | £3,098 | -6.9% |
| 3 bed rentals | £4,482 | -10.3% |
| 4+ bed rentals | £4,631 | -41.9% |
Over the Aug 2022, the average rent for an apartment in/near London, UK decreased by 2.1% to £3,968.
Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 14.3% to £2,135. Pricing for 2-bed apartment also decreased by 6.9% and a place of this size will now cost you £3,098. 3-bed apartment rent pricing starts at £4,482, it decreased by 10.3% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 41.9% and made it down to £4,631.
| Rent Type Price | Aug | vs Last Month |
|---|---|---|
| House rentals | £4,525 | +11.2% |
| Condo rentals | £1,526 | -4% |
| Apartment rentals | £4,313 | +5.7% |
| Room rentals | £756 | -1.3% |
| Loft rentals | £1,532 | +0.3% |
| Townhouse rentals | £2,723 | +32.1% |
The median rent for an apartment in London, UK increased by 5.7% to £4,313. Statistics show that house rent price increased by 11.2% this month making it up to £4,525. Condos faced an upward trend these days. The median rent for a condo decreased by 4%, it’s now available for £1,526. The median rent for a loft faced changes as well, it increased by 0.3%, the price tag now starts at£1,532. An average room will now go for £756, the median rent price for a room decreased by 1.3%. The median rent for a townhouse increased by 32.1%, you’ll have to spend around £2,723 to get one.
Finding Apartments for Rent in London
London has the lavish inventory of properties. Here you can find new build apartments, old Victorian mansions, unfurnished properties, and serviced apartments. Finding a flat or an apartment for rent in London is not an easy task. Thousands of newcomers are arriving in London every day. It is pretty hard to find an apartment for a short stay or vacation rental. Finding long-term apartments is an even more difficult story. Potential renter has to go through a rigorous screening process and get approved by the landlord or property management. However, Rentberry is making this process much easier, with our fully automated platform. Search for thousands of rental properties: lofts, houses, townhomes, cheap rental as well as luxury options.
London Neighborhoods
Chelsea
Ready to explore one of the most iconic neighborhoods in London? Some associate it with the eponymous football club, others with flowers, but everyone knows for sure Chelsea is one of the most desirable areas to live in. It’s home to the astonishing Georgian and Victorian eras buildings that go hand in hand with more recent development. Here, you can live like in a movie, but such life will also require a pretty penny.
Poplar
Searching for a cheaper place to live in the East End? Check out Poplar, a residential district close to Canary Wharf. Quiet and modest neighborhood, it recently began gaining popularity among young professionals and students. These days, it is your average neighborhood with a few good dining options, some green spaces, and a great market.
Marylebone
Welcome to Marylebone, a stunning area in the heart of London. Here you can enjoy the feeling of the countryside, although with many perks available only in large cities. Luscious parks, cute shops, and a plethora of restaurants, bars, and cafes — all this is Marylebone. Even Sherlock Holmes could not resist its charm and settled on Baker Street!