Mar

The DLR, Met and Piccadilly lines offer the best value for London renters

admin

The latest research by the international rental marketplace, Spotahome, has revealed the current cost of renting across the London Underground by line, zone and station, to show the capital’s renters where it’s best to look to find a tube stop bargain.

Spotahome
crunched the numbers looking at the average rent for property surrounding every
station’s postcode on the world-famous map so that renters moving to and within
London can keep costs down without moving miles from a handy tube transport
link.

The data includes all rental
properties located within the immediate outcode area of each station (the first
half of the postcode), to show just how much it costs to rent within a short
walking distance of each stop.

By Line

The DLR currently offers the
best value with the average rental cost across the line coming in at £1,769,
closely followed by the Metropolitan line (£1,857) and the Piccadilly Line
(£1,946).

Surprisingly the Central line
also ranks high for affordability with the average rent along the route
currently £1,996, along with the Jubilee line (£2,048).

Despite running between just
two stops, the central locations of Bank and Waterloo mean rents are high along
the Waterloo and City line at an average of £3,489, with the Circle line the
only other route to see the average rent exceed the £3,000 mark.

By Zone

The London Underground purist
probably doesn’t count anything past Zone 6 as the official tube network, but
probably due to its external reaches, Zone 9 ranks as the most affordable on
average with rental prices at £1,225. Although again, it consists of just two
tube stops.

Perhaps more surprisingly,
Zone 5 and 6 rank as the next most affordable as a whole with rents averaging
£1,399 and £1,417.

Less surprisingly, Zone 1
takes the top spot for the most expensive zone with rents averaging £3,094. In
fact, Zone 1 alone is 58% more expensive to rent in than Zone 2, whilst Zone 2
is 11% less affordable than Zone 3. This demonstrates how looking just a few
stops further out can save you a huge amount in rent each month while remaining
within touching distance of the city centre.

By Station

The most affordable station to
rent around across the entire tube network at the moment is Watford at £1,057.
While rents remain low due to Watford’s position on the far peripherals of the
city, the town offers great value for money, a more relaxed feel, plenty of
green space and good transport links into the heart of London with commutes of
just 23 minutes direct to London Euston. All of which makes it popular amongst
homebuyers and renters alike.

Aldgate East (£2,076) is the
most affordable rental tube stop in Zone 1, with nearby Mile End the cheapest
in Zone 2 (£1,309).

In Zone 3 it’s Turn Pike Lane
(£1,244), with Hounslow East and West the most affordable in Zones 4 and 5
(£1,135).

At £1,173, Elm Park comes in
as the best bet for London renters looking for a bargain in Zone 6.

James Kirimy, GM for Spotahome UK
and Ireland, commented:

“At Spotahome our goal is to
help people find and secure their new home fully digitally in just a few
clicks, without having to go through the traditionally painful and lengthy
physical viewing process.

We do this with a mix of great
people and great tech. Our community of Homecheckers visit and verify the
properties published on our platform, take photos, record high-definition
videos of the property, create detailed floor plans and write property and
neighbourhood descriptions so that potential renters have everything they need
online to book online with peace of mind.

However, one thing in
particular that every tenant wants to know when it comes to renting in London
is ‘how close am I to the nearest tube stop?’

The London Underground network
is the lifeline that connects the city and so finding that perfect balance of
affordability and easy access is critical.”

Average rental data based on
the station outcode (first half of the station postcode) to show current rental
prices in the immediate area surrounding each stop. Current average rent
relates to all property types and sizes in each area. Source: PropertyData

Current Average Rent by Tube Line
Line	Average rent (2020)
DLR	£1,769
Metropolitan	£1,857
Piccadilly	£1,946
Central	£1,996
Jubilee	£2,048
Bakerloo	£2,183
Hammersmith & City	£2,186
Northern	£2,209
Victoria	£2,261
District	£2,268
Circle	£3,033
Waterloo & City	£3,489

Current Average Rent by Zone
Zone	Average rent (2020)
9	£1,225
5	£1,399
6	£1,417
7	£1,428
4	£1,465
8	£1,600
3	£1,631
2	£1,953
1	£3,094

Most Affordable Rental Tube Stops Across the Entire Network
Tube Stop	Tube Line	Average rent (2020)
Watford	Metropolitan	£1,057
Hounslow East	Piccadilly	£1,135
Hounslow Central	Piccadilly	£1,135
Hounslow West	Piccadilly	£1,135
Elm Park	District	£1,173
Hornchurch	District	£1,173
Upminster Bridge	District	£1,173
Amersham	Metropolitan	£1,215
Chesham	Metropolitan	£1,235
Turnpike Lane	Piccadilly	£1,244

Most Affordable Rental Tube Stops in Each Zone
Tube Stop	Zone	Average rent (2020)
Aldgate East	1	£2,076
Mile End	2	£1,309
Turnpike Lane	3	£1,244
Hounslow East	4	£1,135
Hounslow West	5	£1,135
Elm Park	6	£1,173
Watford	7	£1,057
Chalfont & Latimer	8	£1,600
Amersham	9	£1,215