According to new research by Rightmove, Plumstead in South East London is currently the most affordable place to rent a two-bedroom property in London.
On average to rent in Plumstead would cost £1,143 per month, 7 times cheaper than the most expensive area, Mayfair.
The rental market is growing in London, with a record 69% increase in email enquiries on Rightmove’s website this year.
Overall South East and East London are the cheapest areas to rent with most the top 20 cheapest are coming from those areas. Middle Park in Greenwich came in second cheapest at £1,192 and Eltham came third with an average two-bed rent of £1,195 per month.
Alexa Joyeux, lettings manager at Robinson Jackson, said: “We started noticing an increased demand for Plumstead among tenants when the DLR opened in nearby Woolwich in 2009. As soon as work started on the Crossrail station, enquiries stepped up another gear”
She went on to say, “Plumstead, for the time being, retains a level of affordability mixed with a good housing stock – lots of pretty Victorian terraces – wide open spaces that include Plumstead Common, Winn’s Common and Oxleas Woods, plus a very short journey to the revived and regenerated Woolwich town centre.”