Beaconsfield named Britain’s most expensive postcode for renters
A surprising result, or one that was inevitable…
It’s official: the UK’s priciest postcode for renters isn’t in the heart of London, but tucked away in the leafy commuter belt of Buckinghamshire.
According to new figures posted from The Standard using data by Cohab, a property portfolio platform, Beaconsfield’s HP9 postcode has overtaken the capital’s most exclusive areas to become the most expensive place in Britain to rent a home.
Tenants in this picturesque market town are now shelling out an eye-watering £5,920 per month on average - almost £500 more than renters in South Kensington and Knightsbridge (SW7), where average monthly rents sit at £5,438.
House and rent prices in commuter towns have been experiencing steady price rises over the years attributed to demand, with many London workers opting to live with their families away from the hustle and bustle of the big city.
Beaconsfield is now the biggest example of this trend. The town is situated 23 miles northwest of the capital and has brilliant connecting transport links, with a simple 30-minute train ride all that is required to get into central London.
Estate agents also attribute the area’s soaring prices to a blend of large detached homes, countryside prestige, and elite schooling.
As an example of how high rents can go in Beaconsfield, a six-bedroom home in nearby Penn, just outside Beaconsfield, is currently on the rental market for a staggering £86,667 per calendar month.
Rent prices continuing to rise
Despite being knocked off the top spot, London’s rental market continues to boom, reaching its 14th consecutive record high. The average rent across Greater London now stands at £2,698 per month, a figure that has steadily climbed even as more properties have come to market.
While the rise in available listings has eased some tenant competition, demand still outstrips supply in many neighbourhoods, particularly in central zones and prime boroughs like Westminster and Kensington & Chelsea.
Even outside of the capital, rental costs are on an upward trajectory. The average rent across the UK (excluding London) has increased by 0.6% in the past three months alone, reaching £1,349 per month. That’s a 43% jump - or £270 increase - since the start of the COVID-19 pandemic in 2020, according to the latest data from property platform Zoopla.
The report highlights growing pressure on renters, with areas close to main transport hubs that also contain good schools seeing the sharpest increases.