Quite a topsy-turvy housing market out there!
And wouldn’t have to worry about bills on top other than food
London prices are insane, I don’t know whose paying rent in these areas to sustain the prices we’re seeing.
@neddy- young professional couples who have good jobs but cannot afford to buy because house prices have doubled in the last 10 years, therefore deposits have doubled as well.
@hogtrumpet I’m one half of such a couple, but we would never dream of spending £666 a week (the cheapest on this picture) on rent. Far more sensible to pay much less in a nice enough area and put something aside each month. Over 2 grand a month for a one bed flat or studio is mental.
I’m not sure I trust the figures in the graphic though- they are essentially an ad for a hotel booking service so there is a conflict of interest.
They also qualify their figures by saying ‘rental costs of available furnished studios with 4/5* quality’- that is very much open to interpretation as to what qualifies- it allows them to cherry pick places to generate figures- but it is just an ad, not an official statistic.
Tower bridge is quoted at £788 as an average, that is about £3300 a month for a furnished studio.
I know a bit about property in that area and basically, that isn’t true- there are quite a few 1 bedroom flats in SE1 that are available for £1300-1500- clean modern flats with secure entrance, parking etc.
Now £1500 is still quite a bit of money- more than a mortgage would be and a hell of a lot less than what pretty much all the landlords would be paying on their interest only mortgages.
Most of the market for 1 bedroom flats is under £2k- the ones that are over £3k aren’t as common.
I think those prices are highly inflated. There is no way an average flat in London costs almost a grand a week. A friend of mine rented one a couple months ago 5 minutes away from London Bridge and is paying £1800 pcm, which was more than others. If the prices in the infographic were true then it would have to cost £750 per week or £3000+ per month, which is rubbish.
Found this article about house prices in London. Interesting read.