London's renting hotspots revealed as average rent surpasses £800

New data has revealed the ten London areas set to become renting hotspots as more people move away from a central location.

Flatshare site SpareRoom revealed the new data, comparing the top most-searched-for London rental locations in 2023 vs 2022.

The data revealed that some areas have risen by more than 40 spaces, as Abbey Wood moved from 99 to 58 in the last year.

While Forest Gate made the jump of a renters hotspot from 86 to 62 followed by Crystal Palace up 23 spots from 90 to 67.

The London renting hotspots for 2024

You can see the full list of renting hotspots below and the average monthly rent in each borough.

SpareRoom found that the top ten biggest ‘climber’ locations tend to be between 7-11 miles from Central London, showing a growing demand for properties further from the capital’s centre.

The data also found that the most popular spots were also some of the cheapest renting areas, benefiting from lower rent costs and connections with the Elizabeth Line in many locations.

However, demand for areas within three miles of Central London is quickly decreasing.

Previous rental hotspots like Camden Town have seen the number of searches drop by 45% in the past year alone.

Clapham remained popular among renters, taking the top spot but, it did still receive a decrease by 33% year on year.

Elsewhere, Islington, Canary Wharf and Battersea all remain in the top 10, each of these popular locations has fallen in the rankings, with Fulham leaving the top 10 completely.

Surprisingly, Wembley has entered the top ten, climbing six places from 11 to 5 in the space of a year.

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Meanwhile, Hackney, Stratford, Ealing and Greenwich are other top 10 areas that have also seen an increase.

Many renters seem to be heading further afield as towns and cities outside of London are becoming more popular thanks to the Elizabeth Line.

Searches for properties in Southall more than tripled between 2021 and 2023, rising by 210%, whilst searches in Ilford more than doubled at 128%