How much would Uncle Pennybags pay for hotspots in 2018?
The high cost of renting in London is not really a secret, but new data shows how much it costs today to rent a room in London’s hotspots.
To illustrate this, flatsharing platform, Ideal Flatmate, has compared the cost of landing on each square of the Monopoly Board with the current average cost of renting a room in each location.
This version also tells you what per cent of a Londoner’s average monthly salary you would need to rent in each location, with some scary numbers emerging!
While the most ‘affordable’ Monopoly street to rent in would be Pentonville Road, with rooms available on average for £772 a month, living in Mayfair would set you back your entire monthly salary if you were on an average wage in London, £34,473 per annum according to the ONS.
Some of London’s most popular areas are now completely out of range for people even on average earnings, with a room to rent in Piccadilly setting you back 91 per cent of your wage and a space on Oxford Street £2,360 per month.
The average room rental prices for each street on the board in today’s prices is broken down as follows:
|2018 Room Price||% of salary|
|Old Kent Road||£912||32%|
|The Angel, Islington||£881||31%|
(Sources: ONS Data; Estate Agency collated figures; Ideal Flatmate independent research)