As a famous tourist destination, London welcomes millions of visitors every year. This makes it one of the most populated and progressive cities in England. With this large number of people wanting to travel, do business, study and live in London, there is an increasing need for accommodation properties.
Those who want to visit London should have enough knowledge of the city’s rental market to get the best deal. A few studies reveal that the rental landscape in London is changing due to a range of factors, including supply and demand and property owners seeking capital growth.
Here is a quick guide to help you get an idea of how much you need to spend on accommodation and where you can find affordable rooms or properties.
According to a recent report, almost half of the landlords in the UK have experienced a rise in tenant demand, mainly from young people and families. Whether you are staying in London for a week or you are planning to live there with your family, it is important that you compare rental rates and choose a location that is convenient for you.
A new research has found that international students add £600 million to London’s private rented sector. About 18% of foreign students in the capital come from China. The rental rate is typically £500 to £1,500 per week, depending on the location and the facilities available. Popular websites like lhalondon.com provide information on London student accommodation rental market.
For Business Travellers
Business travellers can find affordable rooms at some of the most popular accommodation properties in London. Rates vary depending on the room type and size, along with the length of stay and the inclusions.
Best Places to Rent
Choose South London if you are looking for an affordable one-bedroom flat rentals. The average rate in this area is £600-£700. When it comes to shared flats, you may choose between East London (£430-£600) and North London (£430-£550).
This information is based on facts and the results of recent studies conducted by private organisations. You may find additional resources, tips and guides on the Internet. Always verify the rates by calling the property manager before making any transaction to make sure you are getting the best deal.