Sleek luxury apartment blocks, arty makers’ workshops, trendy cafes and micro-breweries, manicured parks and gleaming shopping malls. In just a few decades, East London has experienced a remarkable transformation.
Skilful planning and careful development have converted previously run-down neighbourhoods from industrial wastelands to sought-after property hotspots. As a result, tenants renting in East London can now enjoy a lifestyle that residents could only have dreamed of back in the 1980s and ‘90s.
Our letting agents in Ilford agree with our Wanstead letting agents that today, the East London rental market is hotter than ever. So let’s take a look at what it means to live in this vibrant and diverse part of London.
East London history: turning Olympic dreams into reality
East London has a rich cultural history that grew out of a proud association with London’s docklands. In the 1980s, developers saw the potential of renovating this long-neglected area.
Regeneration work had already begun before the decision was made to build a park for the 2012 Olympics in Stratford. This dazzling site was to become the centrepiece of East London’s dramatic reconfiguration. The Olympic site was designed to include housing, shopping and leisure facilities, together with new transport links. Work began in 2007, and the park was completed in just five years.
Since then, hundreds of new building projects have appeared across the eastern side of the capital, making East London the destination of choice for a wide range of renters.
Does East London reflect UK rental market trends?
The work from home trend has led many UK renters to look for properties in suburban or rural locations that offer fast access to a local city centre.
Spending less time at the office has enabled tenants to swap cramped inner city apartments for larger properties with outdoor space in areas such as Wanstead. With a villagey feel and an abundance of green space on its doorstep, Wanstead is the ideal solution for renters in search of a more peaceful existence.
The area has grown in popularity and rental properties here are now in high demand. Sought-after Wanstead locations include Christchurch Green and the Aldersbrook Estate. Thanks to their strong community vibe and easy access to outdoor spaces, these neighbourhoods are popular with families, young professionals and older retirees. Consequently, rents here tend to be slightly above average rental prices for East London properties.
Who rents in East London?
As specialists in East London lettings, we help renters find their ideal properties in areas such as Barkingside, Ilford, Newbury Park and Wanstead.
Families are drawn to the three or four bedroom properties to be found in these locations. The highest rents are found in Wanstead, where the average rent across all property types is £2,118 pcm. Central London is easily accessible from Wanstead by tube via the Central Line.
Ilford is more affordable, with a broad range of housing types ranging from studio flats to large family homes. The average rental price in Ilford is £1,878 pcm, making it especially popular with young professionals who prefer living close to a convenient urban centre. Families also appreciate the proximity to urban amenities, good schools and open green spaces. Ilford’s transport links include the Elizabeth Line plus overground rail services.
Renters on a tighter budget tend to opt for Barkingside or Newbury Park, where average rents are £1,741 pcm and £1,603 pcm respectively. Both of these areas offer property prices below the London average and are well-connected to the city centre via the Central Line.
Tips to help your rental search
As East London has grown in popularity, rental costs have also risen. In more sought-after areas, price rises reflect a shortage of rental properties, which has led to an increase in competition between renters.
There are steps you can take to improve your chances of success when searching for your ideal property:
- Decide exactly what you want from your next home and share your plans with a trusted local estate agent. When your agent is fully briefed on your property needs, it can speed up your search.
- Get your paperwork ready so you can move quickly when you find the right property. Have essential documents such as personal ID and proof of income ready to go.
- Read your tenancy agreement carefully before signing, and seek professional advice for any terms or conditions you don’t understand.
Ready to rent in East London?
If you are looking to rent a property in the postcodes IG1, IG2, IG3, IG4, IG5, IG6, IG7, E11 and the surrounding areas, we would love to help. Our years of experience and deep connection to the neighbourhoods we serve make us the ideal choice when you are looking for your next home.
Why not call us today and let us know what you are looking for?
Simply get in touch via our website or phone 020 3972 7341 or email info@oaklandestates.co.uk to speak to one of our friendly, knowledgeable agents.
Properties for sale in Ilford and Barkingside
Properties to rent in Ilford and Barkingside
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