When it comes to renting in London, affordability is obviously a relative concept. Though there are many other areas of the country where rents are rising rapidly, the capital remains eye-wateringly expensive compared to most of them.
But if you're prepared to move a little further away from the city centre, you'll find that average rents drop considerably. According to the latest Landbay Rental Index report, the average London rent in a shared house of two people is £1,944 – which amounts to a hefty 49% of each tenant’s income.
By contrast, the lowest London rents can be found in the borough of Bexley, at the city's south-east edge, where the average rent in a shared house of two people is a much more reasonable £1,022.
Sutton, one of London's southernmost boroughs, is second-most affordable, with the average rent in a shared house of two people coming in at £1,071. Havering (£1,083) in the east, Croydon (£1,143) in the south and Bromley (£1,191) in the south-east are close behind.
At the other end of the scale, the boroughs of Kensington & Chelsea (£3,051), Westminster (£2,938), Camden (£2,253), City of London (£2,138) and Hammersmith & Fulham (£1,918) are the most expensive places to rent. This isn't too surprising as each is a central and traditionally wealthy borough.
Commenting on the report, Landbay's CEO and founder John Goodall said: "Historically, desirable locations are likely to hold a rent burden that may make living costs insurmountable. Young professionals now need to weigh up a variety of factors, including commuting length, travel costs, and above all rent. This is especially true if they hope to save and invest, with the goal of achieving that first step onto the property ladder in the future."
A report last year found that several towns in the south-east have become hotspots for Londoners seeking to reduce their living costs, with Slough, Thurrock and Broxbourne coming top of the list.