London’s most expensive rentals revealed
From penthouses to gated detached homes, ranging between the modest three bed to the extremely spacious 11 bed and with a price jump of 8567% between the most affordable borough and the most expensive, leading London lettings and sales agent, Benham and Reeves, has looked at how the most expensive rental properties in London vary by borough.
Benham and Reeves looked at stock listed on the major portals, pulling the most expensive rentals for each borough to highlight how even the most expensive rental properties can differ massively in price, size and style across London’s diverse rental market.
The most expensive are, of course, found in London’s most prestigious boroughs with a five bed penthouse listed in Westminster at £260,000 per month the highest of the lot, closely followed by a seven bed penthouse in Kensington and Chelsea at £173,333 a month.
Camden ranks third at £140,000 a month, but for that money, you do get an eight bed detached house and a swimming pool.
Barnet is the last borough where the most expensive rental property exceeds the £100k mark, with a four bed converted chapel sat in seven acres, listed at £104,000 per month.
If you prefer a river view, the most expensive property in Lambeth offers all-round views of the Thames from all three bedrooms and is listed at £36,000 per month.
Or if space is more your thing then for £14,000 per month, you can secure an 11 bedroom detached home in Hounslow, or a seven bed detached home in Greenwich, Kingston, Enfield or Bromley for between £16,000 and £32,000 per month.
Perhaps the best high-end rental bargain is a semi-detached property in Sutton that boasts eight bedrooms and while it’s the most expensive rental property listed in the borough at the moment, it’s the cheapest across all boroughs at just £3,000 per month.
Director of Benham and Reeves, Marc von Grundherr, commented:
“The cost of renting can vary drastically by borough and this is the case even at the very top end of the market. However, while some of these monthly sums may seem ludicrous to the average London tenant, it does demonstrate how renting is becoming more of a life choice rather than something we are forced to do.
When you think of renting in London you think of shoebox studio flats with barely enough room to swing a cat, but this simply isn’t the case. There are so many outstanding rental properties of all shapes and sizes and we are seeing more and more people from all walks of life, choose to rent rather than to buy.
Not only does it allow us to live where we may otherwise be unable to buy, but it provides a degree of freedom and flexibility that everyone from working professionals to families are starting to lean more towards.
As a result, we’re seeing a wider range of properties appear on the rental market to satisfy this demand and the London buy-to-let market continues to be a profitable business despite attempts to dampen the financial return via stamp duty increases and other changes to legislation.”
|
Location / borough
|
Rental Properties
|
|||
|
Highest Rental (per month)
|
Property type
|
Beds
|
Link
|
|
|
Westminster
|
£260,000
|
F
|
5
|
|
|
Kensington and Chelsea
|
£173,333
|
F
|
7
|
|
|
Camden
|
£140,000
|
D
|
8
|
|
|
Barnet
|
£104,000
|
D
|
4
|
|
|
Wandsworth
|
£65,000
|
F
|
5
|
|
|
City of London
|
£60,000
|
F
|
4
|
|
|
Hammersmith and Fulham
|
£60,000
|
F
|
5
|
|
|
Haringey
|
£40,000
|
D
|
6
|
|
|
Richmond upon Thames
|
£37,500
|
D
|
4
|
|
|
Lambeth
|
£36,000
|
F
|
3
|
|
|
Greenwich
|
£32,000
|
D
|
7
|
|
|
Merton
|
£32,000
|
D
|
5
|
|
|
Brent
|
£21,667
|
D
|
6
|
|
|
Harrow
|
£20,000
|
D
|
5
|
|
|
Tower Hamlets
|
£20,000
|
F
|
3
|
|
|
Southwark
|
£18,000
|
F
|
3
|
|
|
Kingston upon Thames
|
£17,500
|
D
|
7
|
|
|
Enfield
|
£16,612
|
D
|
7
|
|
|
Bromley
|
£16,000
|
D
|
7
|
|
|
Waltham Forest
|
£15,000
|
D
|
5
|
|
|
Hounslow
|
£14,000
|
D
|
11
|
|
|
Hackney
|
£13,000
|
F
|
3
|
|
|
Islington
|
£13,000
|
F
|
3
|
|
|
Newham
|
£9,500
|
F
|
2
|
|
|
Ealing
|
£9,232
|
D
|
6
|
|
|
Lewisham
|
£9,000
|
D
|
6
|
|
|
Bexley
|
£8,000
|
D
|
6
|
|
|
Havering
|
£8,000
|
D
|
5
|
|
|
Redbridge
|
£7,605
|
D
|
4
|
|
|
Hillingdon
|
£7,500
|
D
|
5
|
|
|
Croydon
|
£6,500
|
D
|
4
|
|
|
Barking and Dagenham
|
£3,200
|
T
|
4
|
|
|
Sutton
|
£3,000
|
S
|
8
|
|
*All property rental prices were correct and the highest listed in each borough at the time the data was collected (06/11/2019).
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