London’s renters head to the suburbs

London’s renters head to the suburbs

0:02 AM, 9th May 2024, About 2 months ago

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There has been a shift in London’s rental landscape, with renters increasingly looking beyond the city centre for cheaper options and better transport connections, data reveals.

According to SpareRoom, which has analysed tenant search trends, there has been a surge in popularity for areas further out from central London – and this trend includes other major UK cities too.

Locations like Abbey Wood, which saw a 210% rise in searches, Forest Gate (up 157%), and Crystal Palace also saw significant growth.

These areas not only offer lower rents but have improved transport links, particularly the Elizabeth Line serving Abbey Wood and Forest Gate.

‘Changing priorities for both London and UK-wide renters’

Matt Hutchinson, a director at the flat share platform, said: “Our search data has highlighted changing priorities for both London and UK-wide renters, with proximity to major city centres becoming a less significant factor in the search for a room.

“Renters are increasingly looking at locations further out to set up home, and within London, the likes of Abbey Wood and Crystal Palace are real hotspots at the minute, with an abundance of green space and easy access to the city.”

However, demand for areas within three miles of central London is dropping as established hotspots like Camden Town saw a 45% decline in searches.

Even previously popular areas like Fulham have dropped out of the top 10 searches entirely.

Clapham remains the most searched area

The overall top 10 search rankings show a similar trend and while Clapham remains the most searched area, searches have dropped by a third year-on-year.

Also, Islington, Canary Wharf and Battersea have all lost ground, while Wembley climbed six places to number five.

Hackney, Stratford, Ealing and Greenwich have also seen increased interest.

SpareRoom also says that the Elizabeth Line’s impact extends beyond London with places like Southall (up 210% for searches) and Ilford (up 128%) seeing big search volume increases.

The data also suggests that renters in major cities like Leeds, Birmingham and Manchester are exploring neighbouring towns like Stockport (up 88%), Warrington (up 62%) and Wolverhampton (up 63%).

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