London tenants are paying 42% more for every extra room

With the cost of homeownership way out of reach for many, the capital’s tenants are left with little choice but to upsize within the rental market to a larger property.

London as a Whole

On average across London, the jump to increase your rental potential is a 42% increase in rent a week for each room.

The cost to jump straight from a studio flat to a four-bed property is a staggering 299% increase.

From a studio to a one-bedroom and a one-bedroom to a two-bedroom requires a 35% and 37% increase respectively. The largest jump is from a two-bed to a three-bed where the weekly rent leaps from £553 to £906 – an increase of 53%. To make the final leap from a three-bed to a four-bed requires a further 46% increase in weekly rent.

Studio to a Four-Bed

Although very unlikely, for those looking to expand from a studio straight to a four-bed, Highgate, N6 is home to London’s largest jump. While a studio flat costs on average £101 a week to rent, there’s a 1090% increase to the £1,202 a week for a four-bed property.

Studio to a One-Bed

Highgate is also home to the largest jump between a studio and a one-bed with a 215% increase, followed by Soho, W1, where the rent increases by 179% between the two.

One-Bed to a Two-Bed

Fitzrovia, W1B offers the highest step between a one and two-bed property with a 194% increase in weekly rent from £455 to £1337! Oxford Circus, Belgravia, Blackfriars and Bond Street are also some of the largest jumps between this property size.

Two-Bed to a Three-Bed

For those looking to move to a property with a third bedroom, Westminster offers the biggest obstacle, with an increase of 456% from a two-bed to a weekly rent of £4,596 for a three-bed. Croydon (297%) is the second largest with Green Park, Piccadilly Circus and Covent Garden also amongst the highest.

Three-bed to a Four-Bed

For that final step for those renting in the capital and eyeing a four-bed property, the place to avoid is Bank, EC3. The jump between property sizes requires a huge 465% increase in weekly rent, to a massive £13,846. Again, Oxford Circus, Fitzrovia and Hampstead also rank us some of the biggest leaps.