London park rents reduce by as much as half from one side to the other

The latest research by Spotahome, the international rental marketplace, has looked at the cost of renting around London’s most sought after green spaces, as well as how tenants can reduce their rental outgoings simply by living on one side compared to the other.

Spotahome looked at the average rental cost in each outcode straddling the capital’s most popular parks and found living around them requires an average monthly rental cost of £2,050; 21% higher than the average London rent.

The biggest park rental premiums are surrounding Kensington Gardens (64%), Green Park (61%) and St James’s Park (56%) where the cost of renting is between 56%-64% higher than the London average.

However, there are more affordable alternatives. The cost of renting around Crystal Palace Park (-26%), Bushy Park (-15%) and Alexandra Park (-14%) is between 14%-26% lower than the London average, with Greenwich Park (-9%), Victoria Park (-4%) and Brockwell Park (-2%) also coming in marginally lower.

But regardless of which park tenants choose to rent around, almost all of them offer a potential rental saving depending on which side of the park you opt to rent along.

The biggest is found at Richmond Park, where tenants can save 47% in rental outgoings by opting to rent to the south of the park within the KT2 postcode. The average rent in this postcode is £1,571, the lowest of all postcode areas surrounding the park and over £700 more affordable than the most expensive TW10 postcode which straddles the north-west of the park.

Greenwich Park also offers a considerable saving depending on which side you opt to rent on. There is a 32% difference in rental prices between the SE13 postcode (£1,313) to the west of the park and the SE10 postcode (£1,737) to the north-west.

Battersea Park (32%), Kensington Gardens (31%),  Hyde Park (28%) and Regent’s Park (23%) are also home to a rental saving of 23%-32% between the most expensive and most affordable postcodes surrounding them.

Savvy renters looking around Bushy Park, Crystal Palace Park, Victoria Park, Alexandra Park, Brockwell Park and Green Park can also find a decent saving, while just St James’s Park is straddled on all sides by the SW1 postcode with no saving to be had based on average rents.

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Estate Agency Review Websites 2022
Estate Agent TalkSoftware & Tech

Where to find Estate Agency Reviews online

Other than word of mouth, what ways are there for consumers to read up on reviews about their local estate agents? When we are choosing which of the main high street estate agents we are going to use for selling our property, past experiences from their clients can help us to decide which one deserves…
Read More
Love or Hate Rightmove
Breaking News

Fourth new record puts prices £55,000 higher than pre-pandemic

Price of property coming to market hits a fourth consecutive record of £367,501, up by 2.1% monthly (+£7,400): Average asking prices have risen more than £55,000 in the past two years, compared to a £6,000 rise in the two years before the pandemic Activity levels remain strong and still significantly higher than pre-pandemic, though there are signs that the frenetic market…
Read More
Breaking News

WEEKLY NEWS ROUNDUP – 20/05/2022

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of ContentsHide nurtur.group continues to strengthen its leadership team PRESS RELEASE: BriefYourMarket partnerships take lead generation to next level MyIdentity selects Armalytix to create a proof-of-wealth solution for the property market Is Rishi Sunak to blame for the overheated…
Read More
can you live in a haunted house
Home and Living

Could you live in a Haunted House?

I’m sure that most of us, at one time or another, have had the feeling that we are not alone at home!  Maybe you are someone, like myself, that those little noises at night causes you to pull the bed covers over your head. You’ve spent the evening watching that ghostly horror movie, your senses…
Read More
Love or Hate Rightmove
Breaking News

Property prices double around Elizabeth Line stations

Rightmove’s new Elizabeth Line study reveals asking prices have more than doubled over the past decade in the local areas around Maryland, Abbey Wood and Stratford stations Despite delays in the line opening, the number of buyers looking to move near the stations has steadily surged: Buyer competition is now more than nine times that…
Read More
What will property prices do in 2022
Estate Agent TalkIndustry Interviews

Interview: Mark Hayward and his market forecasts

Residential Expert with Mark Hayward – May 2022 With last week’s relatively uneventful Queen’s speech in the rear-view mirror, now’s the time to assess the current state of the property market and predict what might be round the corner. We spoke to former chief executive of Propertymark and Just Move In ambassador, Mark Hayward, who…
Read More