New data reveals that rent prices are increasing across all five southeast London boroughs, with Greenwich seeing the steepest rise.
According to the Office for National Statistics (ONS) and its Price Index of Private Rents (PIPR), which monitors rent prices for new and ongoing leases, prices are climbing steadily across southeast London.
The latest figures, published in October 2024 for September 2024 data, indicate a notable rise since the same period last year, September 2023.
Among the boroughs, Greenwich saw the most significant increase, with average rent reaching £1,822 — a 13.8% jump from last year's £1,601.
Lewisham followed with average rents rising to £1,690 from £1,553 in September 2023, an 8.8% increase.
In Bromley, rents climbed to £1,565 from £1,445, marking an 8.3% rise over the year.
Southwark was close behind with an 8.2% increase, reaching an average rent of £2,274 compared to last year's £2,101.
Bexley experienced the smallest rise but still saw rents increase by 7.7%, reaching £1,355 from £1,258 in September 2023.
Here's a detailed breakdown of rent prices for different property types in each southeast London borough as of September 2024.
Bexley
1-Bed: £1,079
2-Bed: £1,345
3-Bed: £1,647
4+ Bed: £2,162
Detached: £2,039
Semi-Detached: £1,752
Terraced: £1,577
Maisonette: £1,222
Bromley
1-Bed: £1,209
2-Bed: £1,523
3-Bed: £1,849
4+ Bed: £2,759
Detached: £2,736
Semi-Detached: £2,007
Terraced: £1,779
Maisonette: £1,403
Greenwich
1-Bed: £1,416
2-Bed: £1,764
3-Bed: £2,045
4+ Bed: £2,787
Detached: £2,839
Semi-Detached: £2,261
Terraced: £2,050
Maisonette: £1,672
Lewisham
1-Bed: £1,340
2-Bed: £1,649
3-Bed: £1,900
4+ Bed: £2,538
Detached: £2,339
Semi-Detached: £2,179
Terraced: £1,932
Maisonette: £1,530
Southwark
1-Bed: £1,705
2-Bed: £2,154
3-Bed: £2,502
4+ Bed: £3,328
Detached: £3,071
Semi-Detached: £3,150
Terraced: £2,624
Maisonette: £1,997
These figures highlight the ongoing pressures in the southeast London rental market, with each borough experiencing notable increases year-on-year, particularly in larger properties. Greenwich leads the trend, underscoring the rising demand for housing in this part of the city. Photo by Daniel Case, Wikimedia commons.