By Bea Patel, TLE Property Editor and Director of Shop for an Agent, the estate agent comparison website
Souring rental prices in the city has forced many couples and singles to flat share with strangers. This figure is set to rise over the next few years, as experts forecast millions more will rent in the city. With rental cost spiralling out of control, those who can’t afford to rent alone are resorting to flatsharing to stay in the capital.
New research conducted in June 2015 by Weroom, a social network for flatsharing revealed the cheapest, happiest, most expensive and the trendy locations for Londoners to flatshare in. Waltham Forest proved the cheapest London borough to live in, with an average flatshare price of £435.89 a month. On the negative, it had a low ranking on the happiness scale in 21st place out of 32 London districts. Bromley was the happiest borough with a rating of 7.5 out of 10 on the happiness scale, but the report showed it ranked the third most expensive. Flatsharers are paying an average of £961.77 a month.
Haringey showed a balance of affordability and happiness. At £518.74 a month, it’s the second cheapest borough for flatshare and came in at 6.74 out of 10 on the happiness scale. The report showed that, out of the respondents’ resident in Haringey:
- 63 per cent praised the area for its great access to the London Underground and National Rail links.
- 32 per cent said it’s a great area to live because of its wide selection of supermarkets and its cleanliness.
- 26 per cent heralded the borough for its safety.
With 400 new sign ups to the site every day and a user base of 200,000, Thomas Villeneuve, ceo of Weroom, says: “London house prices have rocketed so far out of control that anyone on a standard wage below the age of 30 can no longer even dream about buying a property in the city. This is why the number of renters in London is projected to increase by the millions over the next few years, meaning that flatsharing can no longer be viewed as a temporary solution – but more a permanent one.
“Given this reality, our flatshare index has been devised to help identify the best locations in London for young city workers struggling to make ends meet in this hugely expensive city. Choosing where to live is a huge strain on young people, particularly ones just moving to London. Our index reveals where the most affordable places to flatshare are, what the best locations are for those most concerned with transport, entertainment and safety, as well as how content current residents are in those areas. In terms of identifying where the best places are to live in London, flatsharers should look no further than our report to find the best match for them.”
Borough breakdown – 10 most expensive, affordable, happiest and unhappiest boroughs in London:
|Most Expensive Borough To Rent per person||Least Expensive Borough To Rent per person||Happiest Boroughs (scale of 1 to 10)||Least Happiest Boroughs (scale of 1 to 10)|
|Kensington and Chelsea – £1,095.73||Waltham Forest – £435.89||Bromley – 7.5||Newham – 4.97|
|Havering – £1,000.73||Haringey – £518.74||Merton – 7.43||Lambeth – 5.74|
|Bromley – £961.77||Lewisham – £586.73||Richmond upon Thames – 7.27||Southwark – 5.76|
|Brent – £958.51||Sutton – £600.35||Camden – 7.23||Barking and Dagenham – 5.94|
|Richmond upon Thames – £809.55||Barking and Dagenham – £605.92||Sutton – 7.2||Wandsworth – 6.1|
|Hammersmith and Fulham – £782.42||Ealing – £619.51||Hounslow – 7.14||Hammersmith and Fulham – 6.1|
|Greenwich – £757.29||Newham – £624.59||Enfield – 7||City of Westminster – 6.22|
|Hounslow – £757.16||Redbridge – £635.04||Kingston Upon Thames – 6.96||Ealing – 6.24|
|Bexley – £756.69||Barnet – £635.38||Hillingdon – 6.89||Kensington and Chelsea – 6.28|
|Islington – £756.14||Enfield – £645.00||Islington – 6.86||Redbridge – 6.31|
The survey also identified the best boroughs for things people consider when looking at an area to live in:
|Transport Links||The City of Westminster, with 79 per cent choosing the area for its tube access.|
|Clubs||Kensington and Chelsea, with 30 per cent choosing the area because of its night life and selection of clubs.|
|Local Pubs||Hammersmith and Fulham, with 40 per cent choosing this area as it has good local pubs.|
|Safety||Ealing, with 59 per cent choosing this area as it has a low crime rate.|
|Food shopping||Hounslow, with 49 per cent choosing this area for its broad selection and access to supermarkets.|
|Youthfulness||Kingston upon Thames, with 22 per cent choosing this area because many young people live there.|
|Cleanliness||Sutton, with 60 per cent choosing this area because it’s clean.|
|Parks and Recreation||Wandsworth, with 33 per cent choosing this area for its excellent parks.|
|Entertainment||Camden, with 21 per cent choosing this area because of its offering of gigs and nightly events.|
|Local Restaurants||Bromley, with 27 per cent choosing this area for its good selection of independent restaurants.|
The survey also showed where the London stereotypes roam:
|Hipsters||32 per cent of Hipsters are from Hackney.|
|Foodies||24 per cent of those in Greenwich described themselves as Foodies.|
|Posh people||23 per cent of those living in Kensington and Chelsea are happy to admit they’re posh.|
|Late night drinkers||30 per cent of people in Newham claim they are habitual late night drinkers.|
|Night Owls||22 per cent of people living in Westminster described themselves as night owls.|
|Workaholics||39 per cent of people in Redbridge said they were workaholics.|
|Artsy types||37 per cent of people in Lewisham called themselves artsy.|
|Football Fanatics||21 per cent of respondents in Merton associated themselves with being football fanatics.|
|LGBT||27 per cent of people in Bromley described themselves as LGBT.|
|Punks||10 per cent of people in Hammersmith and Fulham described themselves as punks.|
|Rockers||33 per cent of those in Hillingdon said they were rockers.|
|Party Animals||21 per cent of people in Harrow claimed they were party animals.|
|Family Oriented||Enfield may be the best location for people with families, with 32 per cent of people describing themselves as ‘family oriented’.|
|Feminists||18 per cent of those in Lewisham described themselves as Feminists.|