Compare postcodes by price per square metre: the London areas where your monthly rental budget buys the most living space
Exclusive new research into the cost per square metre of renting a home has revealed the areas across the capital where you get the most living space for your money.
Considering price data in this way allows renters to see exactly how much room they can expect for their budget, while access to data at postcode level allows them to discover pockets of value.
As anyone who has rented a home in London can attest, £100 won’t get you far.
In the most expensive districts it will barely allow you to rent a space big enough to open a newspaper.
After comparing hundreds of London postcodes, the report by OpenRent letting agents shows the most expensive choice is Mayfair, where £100 will rent you just 1.23sq m for a month.
In Fitzrovia you get a little more, at 1.86sq m.
The most affordable options are mostly on the fringes of London. Orpington renters can get 7.23sq m for their £100 — enough space for a small bedroom. In either Caterham or Edmonton Green you can get more than six square metres.
The top 10 London areas where your monthly rental budget buys the most living space:
|Top 10 cheapest London areas||Average space per £100 (in square metres)|
|Edmonton Green, N9||6.73|
|Thornton Heath, CR7||5.73|
For example, the figures show that in Balham, SW12, you can expect just over 3.5sq m for £100 but in neighbouring Streatham, SW16, you get almost 4.7sq m.
In north London most people would assume that a home close to Hampstead Heath would outprice one near Camden Market.
In fact, £100 will pay for 2.92sq m in Camden Town and Mornington Crescent, but will rent 3.94sq m in Hampstead and Belsize Park.
Central London is out of bounds for all but the super-rich renter, comfortably outpricing more traditional prime locations.
A budget of £100 will officially rent you 2.3sq m around Kensington High Street or 2.46sq m in Chelsea.