Spread across a huge 1,572 km² of land and with a population just short of 9 million people, London is big place even if you have lived there all your life. But if you are a landlord, what are the most popular areas to let your property in London? Let us tell you everything you need to know about the three most sought after places to live in the capital.
The most popular areas for rental properties in London according to Zoopla in 2019 are:
- Canary Wharf, Isle of Dogs
- Paddington, Bayswater
- Southwark/Lambeth. In this guide we take
In this guide, we take a look at these locations and examine what makes them so popular with renters. Whether it’s transport connections, access to nature or rental cost, there are many different factors at play in attracting renters to these London locations.
Canary Wharf
An area once associated heavily with the shipping trade, the Isle of Dogs has proud working class roots and years of investment has seen it become the most popular area to let your property in London. From 1920s docker’s cottages to warehouse conversions and an ever growing number of new-build apartment towers, it makes for a great place to buy and let to tenants. Average rental prices range between £350 - £3,500 per week, depending on location and size of the property.
The O2 arena is only a short distance away, which hosts some of the capitals most exciting music and sports events throughout the year. Over in Canary Wharf there is an abundance of shopping malls and places to eat and drink, while West India Quay and South Quay are also home to a small selection of shops and eateries.
There is a great selection of schools available in Isle of Dogs, with many rated as ‘Outstanding’ in their last Ofsted report. Best primaries include Albion Primary School, Bigland Green Primary School and Britannia Village Primary School, while secondary schools to take note of are Beatrice Tate School and Bishop Challoner Girls’ School.
Docklands Light Railway lines provide the best mode of transport, with South Quay, West India Quay and Poplar all nearby. The nearest tube stop is Canary Wharf on the Jubilee line, with plenty of local bus routes also available.
Paddington
There’s far more to Paddington than just the always busy train station (and a very famous bear). It has finally shaken off its rather dour reputation to become one of the most popular areas to let your property in London. There are plenty of period-style properties, with many of the terraced houses converted into separate flats.
The redevelopment of Paddington has helped to change its image, with new-build flat and apartment blocks popping up everywhere you look. Current rental prices range anywhere from £295 to £2,900, although that could rise as the area undergoes even more transformation in years to come.
Away from the station and more commercial retail shops on the high street, Connaught Village has a more intimate feel and features an array of high-end boutiques. There are a growing number of bars and restaurants serving up a variety of cuisines, and with Hyde Park located on the southern border, and Marylebone and Edgware Road not too far away, London’s West End can be easily located.
Paddington falls within the boundaries of the City of Westminster and parent’s choice of schools are some of the best the capital can offer. Primary wise the pick of the bunch include Ark Atwood Primary Academy, Christ Church Bentinck CofE and Hampden Gurney CofE, while the best secondary schools include Ark King Solomon Academy and Paddington Academy. All are rated as Outstanding by Ofsted.
When it comes to travel, Paddington station is the main option, with mainline services travelling across the country. Bakerloo, Hammersmith & City, Circle and District lines are available on the underground, and in 2021 the new Crossrail terminal is set to open to connect east to west in less than 20 minutes.
Southwark
Southwark encompasses everything from London Bridge and Camberwell, to Peckham and East Dulwich, offering a fantastic variety of properties within the borough. The further south you go, the greener it gets, with many period homes from the Georgian, Victorian and Edwardian periods featuring outdoor spaces and gardens.
The London Bridge area is home to warehouse conversions and new-build apartment blocks that are typically suited to those in a higher earning bracket. The rental price range for Southwark sits between £440 and £1,600 per week, depending on where you decide to invest in the borough.
Living in Southwark means there is no shortage of things to do outside of work. Whether it’s enjoying the delights on Bankside, taking in the arts at Tate Modern or hopping onto the tub to head into Oxford Circus and the surrounding areas, tenants are connected to the very heart of the capital. From clubbing and pubbing, to trying out the best bars and restaurants London has to offer, living in Southwark ensures they can enjoy it all.
When it comes to schools in the borough, Angel Oak Academy and Charles Dickens Primary are primaries rated as Outstanding by Ofsted, as are secondary schools like Harris’ Boys and Harris Girls’ Academy East Dulwich.
Tenants are spoilt for choice when it comes to transport, with the Bakerloo, Northern and Jubilee lines all close by, 11 national rail stations and 6 London Overground stations available to use and buses that allow them to journey as far and wide as they need.
Moving to Canary Wharf, Paddington or Southwark
If you are thinking of moving to one of these affordale rental areas, or you are interested in investing, get in touch with Hastings International.
For properties in Southwark, contact our London Bridge team on 02073789000.
For properties in Canary Wharf, contact our Rotherhithe team on 02072311066.
