People will for the first time be able to compare average rent levels for homes across the capital, using a new interactive website set up by London Mayor, Boris Johnson.

The London Rents Map shows the average rents for private accommodation for each postcode area in the capital.  Unlike existing search portals which show asking prices posted by estate agents and individuals rather than rents achieved, it is based on actual market rents.  This makes it the most accurate estimate of average rents across the capital.  It shows that the current average rent for a room in a shared house is £92 per week.  The cheapest place to rent in London is Dartford, with a two-bedroom home costing an average of just £160 per week.  The most expensive postcode in terms of average rent for a two- bedroom home is South Kensington at £625 a week.

It also provides a wide range of advice and useful information both for tenants and landlords.

Over 650,000 households in London rent their home in the private market, making London’s private rented sector by far the largest of any region in England.

While much private rented accommodation meets good standards, there persist pockets of sub-standard properties and inadequate management.  The Mayor’s draft London Housing Strategy sets out a range of proposals to raise standards and improve choice and mobility for tenants.  The Mayor has pledged to double the number of landlords on the London Landlord Accreditation Scheme and, as chair of the London Homes and Communities Agency, is exploring ways of bringing new investors, such as pension funds and insurance companies, into the private rented sector to provide more professionally-managed, purpose-built private rented accommodation.

Mayor Boris Johnson said:

‘It is hugely important for London’s economy, diversity and dynamism to have a thriving private rented sector, which accommodates people from all walks of life and encourages newcomers to the capital. We know that people looking to rent sometimes don’t know where to go for the right information, so this new website is about supporting the market by making that information available. The rents map is a brilliant one-stop-shop which will enable tenants and landlords to make sensible choices.’

Tim Eden, Director of Housing Allowances at the Valuation Office Agency (VOA), which provides the rental data, said:

‘In a sector that is looking to expand and offer a genuine alternative to social housing or buying, information about the rents private tenants pay, rather than those advertised, is extremely helpful.  Our lettings information is gathered on a goodwill basis from agents, landlords and tenants.

‘We are pleased to assist GLA as the London Rents Map website helps inform those living and working in the private rented sector.  I hope this initiative will lead to an even wider interest in contributing information to the VOA’s Rent Officers.  London has a diverse, complex and ever changing market.  Each and every example of a letting helps to build a representative picture and feeds into the London Rents Map.’

David Hewitt, Private Renting and Housing Development Manager at homelessness charity, Crisis, said:

‘The London Rents Map has the potential to help private sector tenants make informed choices in the market place. Crisis believes that increasing people’s understanding of the private rented market through quality advice and information will increase the likelihood that they access affordable and sustainable accommodation.’

Source: London.gov

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