Renting in Central London is far from cheap, with an average monthly rent of £2,121 according to Zoopla. The cost of a first home in the capital is also substantial, averaging at £587,700, with deposits reaching £188,700, as reported by Halifax. Private renters, constituting 2.7 million in London, spend approximately £3,000 more per year on housing than homeowners. The struggle to cope with rising bills has led to a growing trend of house sharing in South East London suburbs. Data from SpareRoom reveals a surge in tenants seeking flatshares outside of central London. While areas like Clapham and Hackney remain popular, South and East London have witnessed a surge in interest recently. Comparing the top searched-for London rental locations in 2023 to 2022, the most significant climbers in the rankings were Abbey Wood (up 41 places to 58), Forest Gate (up 24 places to 62), and Crystal Palace (up 23 places to 67). Notably, these ‘climbers’ are all located between seven and 11 miles from Central London, indicating a shift away from expensive Zone 1 areas. The affordability and improved connectivity via the Elizabeth Line have made these locations increasingly appealing. Abbey Wood and Forest Gate have gained popularity due to their budget-friendly rents (averaging between £827 and £796 per month). However, Crystal Palace, the third-highest climber, has garnered much praise. Locals rave about Crystal Palace, with @cece_selma on TikTok declaring, ‘You can try and tell me Crystal Palace is not the best place in London, but I wouldn’t believe you.’ It boasts excellent connectivity, with trains to Victoria, London Bridge, or Whitechapel taking around 20 minutes, and an eclectic character. The area is brimming with vintage shops and markets and offers a vibrant foodie scene, including the Crystal Palace Triangle, renowned for its restaurants, bars, and cafes. Additionally, the stunning views from Crystal Palace’s parks and hills add to its allure. The abundance of green spaces, particularly Crystal Palace Park, is a significant draw. The park, once the site of the famous Crystal Palace, is a sprawling expanse of greenery featuring mazes, lakes, a concert space, and even dinosaur sculptures. One commenter on Cece’s video playfully urged her to keep Crystal Palace a secret, saying, ‘Don’t tell anyone, they’ll all come!’ Compared to Clapham, living in Crystal Palace can save you around £200 per month. While the average rent in Clapham stands at £1,072, moving to nearby Bromley reduces the cost to approximately £833 per month. Crystal Palace offers a compelling combination of affordability, connectivity, character, and green spaces. Its rising popularity among tenants seeking alternatives to expensive central London areas is a testament to its appeal.
Renters Seek Affordable Housing in South East London’s Crystal Palace
