Affordable renting in Chelsea

Alex Johnson

rentonomy1 300x193 Affordable renting in ChelseaThe latest research from London rental website Rentonomy shows rents are up to 50% lower than the Chelsea average just 15 minutes (on foot) from the centre.

Director of Research David Butler said: “The ‘Made in Chelsea’ lifestyle could be more affordable than you think. Areas like Worlds End, Earls Court Road, Fulham Broadway and Battersea Bridge are well within walking distance of the centre of SW3 at half the average rent. London is still a patchwork quilt of conjoined towns and villages. Renting where a more popular village meets a less popular village can be great value for money.”

The data of actual, rather than asking, rents shows the least expensive area close to Chelsea is Fulham Broadway. This is followed by homes situated around the Battersea side of Battersea Bridge, then Worlds End and finally Earls Court Road.

UK house prices barely changed in April
The price of a typical home dropped by 0.1% between March and April, but was 0.9% higher than April 2012, according to Nationwide who now estimate that the typical UK home is now worth £165,586.

Stamp duty holiday for first time buyers
First time buyers applying for a mortgage with Halifax will benefit from up to £2,500 cash back, with the lender covering the cost of Stamp Duty. The offer will see borrowers reimbursed for the Stamp Duty paid on purchases between £125,000 and £250,000 and will be available exclusively to first time buyers across Halifax’s mortgage range.

Property market optimism
New research from Clydesdale and Yorkshire Banks suggests that optimism is returning to the property market. Over 90% of those surveyed believe the value of their home will increase or stay the same in the next 12 months compared to 84% of those surveyed over the same period last year. A quarter (25%) are confident that there will be an increase in value in comparison with only 18% in 2012. Those living in London were the most optimistic with 53% anticipating an increase compared to just 14% in the east. However, the majority of those surveyed (62%) plan to stay in their current homes with 22% planning to extend or improve their property in the next 12 months.

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