Waltham Forest borough in the north of London is witnessing the fastest rental growth in the UK capital, registering an increase of 0.19 per cent, according to the latest report from Landbay Rent Check.
The Landbay Rental Index includes unique granular level detail, looking at local trends to the county and London Borough level, including further segmentations by number of bedrooms. Approximately 100,000 properties are analysed each month to form the index.
Bordering Redbridge and Hackney, Waltham Forest has experienced unprecedented levels of growth over the last 6 years. Regeneration is largely responsible for this change; as new-builds attract potential residents looking to move out of central parts of the city, driven by the cost difference and a greener environment, new businesses also pop up, creating jobs for the area.
An average rental property, in the borough of Waltham Forest, costs a tenant £1,251/ month. Despite continued growth in the area, this is, in fact, the 11th least expensive area in London. A tube ride from Leytonstone station to the heart of the City takes just under 20 minutes on the central line.
At an average of £995/ month, Bexley is the cheapest area in London. This is in comparison to rental prices in Kensington & Chelsea, the most expensive borough, where monthly average rental prices are just over £3,000. Waltham Forest is still host to opportunity within the rental sector.