London Marathon route showcases London rental market
Rents range from £1,500 to £6,000 per month
The latest research from London lettings and estate agent, Benham and Reeves, has found that the London Marathon route offers a striking snapshot of the capital’s rental market, with average rents ranging from just £1,500 per month at some points of the course, to as much as £6,000 per month in others.
Benham and Reeves analysed current asking rents across the postcode districts that make up the 26.2-mile London Marathon route, from Blackheath to The Mall, to reveal how rental values vary across the capital.
The analysis shows that the average monthly rent across the marathon route currently stands at £2,916. However, while runners taking part in the race will cover 26.2 miles, they will pass through rental markets where the cost of living differs dramatically from one neighbourhood to the next.
The most affordable point on the route is found at miles four and five along Woolwich Road in the SE7 postcode, where the average asking rent currently stands at £1,500 per month.
The SE18 postcode around Charlton Park Lane and John Wilson Street, home to miles two and three, is the second most affordable stretch of the route, with an average monthly rent of £2,000. The same average is found across the SE8 postcode around Deptford and Deptford Creek, where the route passes through miles seven and eight.
Blackheath, home to the start line and the first mile of the race, commands an average monthly rent of £2,200, while the Canada Water and Rotherhithe stretch of the route, which spans miles nine to 11, comes in at £2,300 per month.
As the marathon moves further into central London, rents begin to climb. Homes close to St Katharine Docks and Shadwell, around miles 13, 14 and 22, average £2,708 per month, while the Canary Wharf section of the course, which covers miles 15 to 21, commands £2,600 per month.
Bermondsey, at mile 12, is one of the first areas along the route to break beyond the £3,000 per month threshold, with an average asking rent of £3,250. Tower Hill at mile 23 follows at £3,800, while Blackfriars at mile 24 commands £3,300.
The highest rents are found at the closing stages of the race. Embankment at mile 25 commands an average rent of £4,000 per month, before the route reaches St James’s and The Mall in the SW1 postcode, where both mile 26 and the finish line average £6,000 per month.
Marc von Grundherr, Director of Benham and Reeves, commented:
“The London Marathon route is a perfect demonstration of the diversity of the London rental market.
“In the space of just 26.2 miles, the route takes you through neighbourhoods where rents can vary from £1,500 per month to £6,000 per month, highlighting just how broad a range of homes, lifestyles and budgets the capital has to offer.
“Areas such as Woolwich, Deptford and Blackheath continue to provide excellent value for tenants, particularly given their strong transport links and proximity to central London.
“At the same time, locations such as Embankment, St James’s and The Mall sit amongst the capital’s most prestigious addresses and command rents that reflect their status, amenities and prime location.
“What this really shows is that London remains a market of huge choice, whether tenants are looking for affordability, riverside living, vibrant neighbourhoods or a prime central London address.”
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