London’s ‘quaint’ borough is the cheapest to rent at £1,485 — but it might not be for long

It’s no secret that renting in London typically comes with a huge price tag.

But if your tenancy is up for renewal and you’re looking for a bit of respite from it all, one ‘quaint’ borough could provide you with slightly more bang for your buck.

According to new data from the Office for National Statistics, Bexley remains the cheapest London borough to rent in, with average monthly figures of £1,485.

The figure was calculated by combining the average across all types of properties, from studio flats to larger homes with multiple rooms.

Over the last year, rents in London have increased by a staggering 7.3% overall, levelling out at £2,252 across the capital, a figure that’s jumped up by £152 since June 2024, when the going rate was £2,100.

Naturally, the most expensive borough is still Kensington and Chelsea, where renters are shelling out £3,616 for their digs.

Unsurprisingly, this also makes it the most expensive place to rent privately in the entirety of the UK.

Where is the cheapest place to rent in London?

The cheapest place to rent in London overall is currently Bexley, tucked away in the South East of the city.

If you’re planning on taking advantage of these pockets of (semi) affordable rent, you might want to get in there quickly, because previous data from SpareRoom also shows that SE2 – which includes parts of Greenwich and Bexley – has seen rental prices increase by 54.7% since 2019, the largest increase of any postcode in London.

Likewise, rents in Bexley have increased more than the average rate across London over the last year, by 11.7% since June 2024. And so, while it’s still cheaper than the rest of the capital, things are gently creeping upwards.

Essentially, it’s a grim outlook all round, but one that’s potentially becoming grimmer faster in previously less expensive areas.

With those caveats in mind, though, Bexley’s offering is plentiful, from historic sites to local breweries. Here’s an idea of what you can get stuck into, and what it’s like to live here…

Things to do in Bexley

Spanning Sidcup, Erith, Bexleyheath, Crayford, Welling and Old Bexley, the borough has a good deal of areas to explore.

For an insight into local history, Hall Place and Gardens is worth a visit, offering various family-friendly exhibitions and experiences, including a miniature railway, owl petting and a Saturday Farmers Market.

There’s also Danson House and Park, a Grade I listed Palladian villa first built in 1766. Originally designed by Sir Robert Taylor (AKA, the architect behind the Bank of England), it was reopened by Queen Elizabeth II in 2005.

And, for afternoon strolls galore, there’s Lesnes Abbey Woods. Here, you’ll find 88 hectares of woodland, a park and the ruins of a centuries-old abbey.

Fan of a tipple or two? There are beers aplenty to be sampled at The Bird and Barrel, Bexley Brewery’s micro pub. And it’s even dog-friendly, so you can bring your furry friends.

Locals love the area, too – particularly Bexley Village, which was praised on Reddit for, naturally, its village-like feel.

‘Bexley Village is lovely, quiet, quaint,’ penned @Staricakes, while @Blandiblub labelled it ‘nice and small.’

‘I was born in Bexley and have some fond memories of the area,’ @mcluckz added. ‘My grandparents lived near the Broadway – there’s some lovely housing stock, nice parks, especially Danson.’

And as for Bexleyheath, the general consensus is that it’s a ‘peaceful’ place – ideal for those after a change from the city’s hustle and bustle.

‘We’re mid-30s and moved from a busy South London area. It’s definitely quieter,’ @rosewalker wrote, as @NCP_R praised the area’s ‘easy access to trains into London.’

Indeed, getting into the centre is relatively easy: there’s a train connecting Bexley Station to Charing Cross, which takes around 38 minutes, and a route between Slade Green and Cannon Street that’ll get you there in 45 minutes.

Alternatively, you can now get the Elizabeth Line from Abbey Wood. Not only does it take just 31 minutes to get to Paddington, but there’s also air conditioning.

So, if you’re ready to give Zone 5/6 a try, Bexley could be your bag.

This article was first published on August 7, 2024.

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