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London room rents hit their highest average on record in Q1 2022

New data from flatshare site SpareRoom reveals room rents in 41 out of the 50 largest towns and cities in the UK were at a record breaking high in Q1 2022. The cities included London, Manchester and Liverpool, with rents of £794, £531 and £415 respectively. 

The red-hot rental market in the capital saw rents up across all London regions when comparing Q1 2022 with Q1 2021 - East Central (26%), West Central (22%) and West (15%) saw the biggest increases. The average monthly room rent in London was at £794 in Q1 2022, up 12% y-o-y and close to tipping over into the £800s.  

The London postcodes that saw the biggest increases were W1 (West End/Soho) up 34%, SW3 (Chelsea) up 28% and SW7 (South Kensington/Knightsbridge) up 27%.  

The most expensive place to rent a room in the capital in Q1 2022 was SW7 (South Kensington / Knightsbridge) with an average monthly rent of £1,384. This was followed by SW3 (Chelsea) at £1,278 and W1 (West End/Soho) at £1,213. 

When considering the cheapest areas to rent in the UK, Darlington came in at £380, followed by Bootle (£383) and Bradford (£384).

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