London may dominate headlines for soaring rental costs, but new research reveals that Britain’s priciest postcode for tenants is found elsewhere – in Buckinghamshire.
According to new analysis by Cohab, a property software provider for landlords, the HP9 postcode – covering the affluent town of Beaconsfield – commands the highest average rent in Britain at £5,920 per month.
This figure is nearly three times the average rent across the South East (£1,562) and a staggering 358 %higher than the national average.
The findings, based on average monthly rents across postcode districts, challenge the conventional view that the capital holds an unassailable grip on the most expensive corners of the rental market.
LONDON HOTSPOTS
London does, however, take second place. In the prestigious SW7 postcode – home to Knightsbridge and South Kensington – tenants pay an average of £5,438 per month, some 150% above the Greater London average of £2,176.
In other regions, the data revealed further stark premiums in sought-after locations. Cornwall’s TR11 postcode, which includes the coastal town of Falmouth, commands the South West’s highest average rent at £2,834, more than double the regional average. In Manchester’s M14 district, popular with students and young professionals, rents average £2,280 – a 127% premium on the wider North West.
At the opposite end of the scale, Wales shows far less divergence between prime and average rental prices.
Swansea’s SA2 postcode has the highest average rent in the country at £1,510, representing a 62 per cent premium over the Welsh average of £935 – the smallest gap recorded among all British regions.
STILL OPPORTUNITIES
Saveli Kotz, founder and chief executive of Cohab, says the findings highlight the uneven geography of Britain’s rental market.
And he adds: “While the cost of renting varies significantly across Britain, every region has a prime location where rents far exceed the average.
“It is notable that even London’s most exclusive postcodes, typically popular with international renters, do not command the same premium as Beaconsfield. Meanwhile, Wales shows a more evenly distributed rental market, suggesting tenant demand is more consistent across the country.”
Kotz adds that prospective renters priced out of prime hotspots should consider expanding their search.
He says: “The data shows there are still opportunities for tenants to find properties at more affordable price points by looking beyond their first-choice location. Exploring neighbouring areas can offer better supply and improved value.”
