Londoners in search of cheaper rents should head Erith in south-east London according to a new report.
The little known town in the borough of Bexley tops the list of the cheapest place to rent in the capital, with asking rents for a two-bedroom home averaging £1,003 per calendar month.
This is less than half the London average of £2,049 for a similar property.
Located next to the River Thames in Zone 6, a season ticket from Erith costs £2,408, with journeys into Cannon Street taking 41 minutes.
Local planners want to revitalise the waterfront east of Greenwhich town centre all the way to Erith, where the legacy of heavy industry is still visible.
Similar town-centre regeneration across suburban south-east London is attracting singles and couples in search of value-for-money homes and fast rail links to the commuter belt.
Neighbouring Bexleyheath, Sidcup and Blackfen – all in Bexley borough – are also in the top five cheapest areas to rent in London. Two-bedroom flats in all three areas are on offer for less than £1,090 a month.
The redesign of Bexleyheath’s high street has also won the local council several awards for the way it combines pedestrians, cyclists and traffic, including buses.
New-build blocks and apartments close to the station are especially popular In the area, which is home to some of the capital’s best parks and gardens.
Just north of the river, in the east London borough of Havering, are another three areas that make the top 10 list of cheapest places to rent in the capital: Rainham, Harold Wood and Hornchurch.
Rainham and Hornchurch were listed as two of the most in-demand areas attracting renters priced out of inner London, earlier this year.
Located Zone 6, Rainham is just a 24-minute train ride into Fenchurch Street, making it ideal for City workers. Meanwhile, Hornchurch residents are practically guaranteed a seat when commuting at 8am on the District Line.
Harold Wood, currently on TfL Rail into Liverpool Street is set to be on the high-speed Elizabeth Line from 2018. This will provide links to Canary Wharf, Bond Street and Paddington in less than 45 minutes – and no doubt boost its popularity, too.
With rents averaging £1,137 a month, East Bedfont in Hounslow is the tenth cheapest area to rent in the capital, and the only part of west London area to make the list.
Close to Heathrow Airport, its closest stations are Feltham with direct links to Waterloo in 27 minutes, and Hatton Cross on the