Compare rents online

Tuesday January 19, 2010

A new rent comparison website launched by London Mayor Boris Johnson shows that Hammersmith & Fulham is pricier than many areas... but still much cheaper than Kensington & Chelsea.

Residents can now compare weekly rents for houses and flats, with the London Rents Map showing the average rent for private accommodation in every postcode area in the capital.

Unsurprisingly, H&F has higher rent levels than many boroughs, with the W14 area the most expensive.

According to the website, weekly rents for a four-bedroom home in West Ken are between £1,000 and £1,750.

Similarly W14 is the priciest area within H&F for one-bed flats, with rents of between £280 and £383, compared to an average of around £270 in the rest of the borough.

The one-bed London average is £185 per week. The cheapest part of London to rent a two-bedroom home is Dartford, at an average of just £160 per week.

The most expensive is South Kensington (£625 per week). H&F falls in between at £335, while the overall London average is £230.

The new site, which has a link to H&F Council's own website, differs from existing internet comparisons which show estate agents' asking prices. It is based on actual market rents in a growing sector.

A decade ago, 15 per cent of households rented. Today that figure has risen to 20 per cent, representing 650,000 households in London.

Mayor Johnson said: "We know that people looking to rent sometimes don't know where to go for the right information, so this new website is about supporting the market by making that available.

"It is hugely important for London's economy to have a thriving private rented sector that encourages newcomers."

Tim Eden, whose agency provides the data, which is refreshed every month, said: "Our lettings information is contributed on a goodwill basis by agents, landlords and tenants."

Amy Harper, lettings manager at Bushells in King Street, Hammersmith, says the site is useful because it gives renters a snapshot of areas they are interested in.

"The prices in Hammersmith seem quite accurate and it's good to have access to a different property website that gives a wider view," she said.

"If someone doesn't know an area very well they can use it to look around and gauge average prices to see if it's an area they can afford."

But according to Philip Baillie- Smith, lettings manager at John Hollingsworth in North End Road, West Kensington, nothing beats a bit of local knowledge.

"The intention behind it seems well meaning, and it's a great site to look at. But the problem with portal websites like these is they rely on people sharing whatever data they wish to," he said.

"It's not like the Land Registry where accurate prices are known for all properties sold in an area.

"The site's one-bedroom flat estimates of £280 to £383 a week might immediately put anyone off with a budget of less than £280, but we've easily got properties going for £240."

He also criticised the fact that the data was based on the previous 12 months, saying: "The problem for the numbers is that since the sales market collapsed the rental market has been up and down.

"In what is an unstable climate you can't use the last 12 months' figures to get an accurate perception of what's going on now.

"I'd advise people to use the website as a guide, then speak to local agents who know the area and who can give you that extra bit of local knowledge."

Vsiit the London Rents Map website: www.london.gov.uk/rents (opens new window).