New map shows London's cheapest postcodes to rent

A new map shows the cheapest and most expensive postcodes in London to rent, with tenants in one area spending almost half of their income on housing costs. Several of London’s boroughs - perhaps unsurprisingly - made it among the least affordable areas to live in England and Wales.

With renters normally spending 34.2 per cent of their household income on rent, tenants in Kensington and Chelsea are spending a whopping 18 per cent more of theirs on housing costs. Those living in the Royal Borough spend the most of their income on renting, at 52.2 per cent, although this is still down from the earliest figures available, in 2014-2015, when this was 62.7 per cent.

Following them is the City of Manchester, where tenants spend 45.6 per cent of their income on privately rented properties. This has increased from 37.1 per cent in 2019/2020, meaning the rents have become much less affordable there in a relatively short period of time.

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London once again made it to the top three, with Westminster claiming the spot of third most expensive place in England and Wales to rent. Tenants there spend 45.3 per cent of their income on privately rented properties.

After Westminster came Brighton and Hove (44.7 per cent), Hackney (44.2 per cent), Camden (42.2 per cent) and Bristol (41.2 per cent). Some of London’s postcodes were closer to the UK’s average such as Lewisham (31.5 per cent), Richmond (31.8 per cent) and Kingston (31.5 per cent). You can see how your area compares on the map below.

Mayor of London Sadiq Khan had been pushing the newly-elected Labour government to let him impose rent controls, although in August a spokesperson for the government said that ministers have “no plans whatsoever to devolve rent control powers,” reports the Local Democracy Reporting Service.

The Renters Rights Bill, which is currently being passed through parliament, plans to bring in some measures to help protect tenants. These include abolishing section 21 ‘no fault’ evictions and limiting rent increases no more than once per year to the market rate.

Mayor of London Sadiq Khan posted to X: “This vital legislation will put an end to no-fault evictions and provide stronger protections for tenants. It's a significant and overdue step forward for renters' rights.”

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