Revealed: The London hotspots where property guardians are saving up to 60% on monthly accommodation costs
It’s no secret that rising accommodation costs in the UK’s capital have long been pricing millennials, keyworkers, and first time buyers saving for a mortgage out of London. Many are moving out of the capital to Kent, Surrey and the surrounding areas, but what’s the alternative if you want to find cheap rent in London?
Recent research by DEX Property Management reveals that one solution could be living as a property guardian. With shops and public buildings closing at an alarming rate, disused properties are being transformed across the city in to habitable living spaces in some of London’s most sought after postcodes. Property guardians pay a licensing fee as opposed to a traditional rent in order to live in empty residential or commercial properties. In return, they help to keep buildings secure and deter antisocial behaviour and squatters in London communities.
Property Guardians Save over 50% on their average monthly housing costs…
In trendy Camden, individuals can expect to pay up to 50% more on their average monthly housing cost than those living as property guardians. The areas of West London, Shepherds Bush and Marylebone also saw property guardianship offering licensing fees of up to 57% less than traditional monthly accommodation costs. One of the largest savings found by DEX was in business district Canary Wharf. Thanks to the area’s plethora of luxury apartments, those living as part of a guardianship agreement were found to save up to 61% on the cost of accommodation.*
There are a number of benefits to living as a property guardian. Guardianship allows people to live affordably in some of the UK’s major towns and cities where they otherwise could not afford to live in a central location. This has enabled first time buyers to save and many workers to live close to where they work, removing the costly commute to the capital.
The research conducted also revealed figures for places in the North West of the city, as well as the South East of London. Two areas which play home to a couple of the most iconic music venues in London; The o2 arena and Wembley Stadium also revealed interesting savings. In Greenwich, the average monthly standard room price was almost £845.55, compared to a typical guardian licensing fee of under £437.50 per month. In Wembley, rooms were found to be an average of almost £729.44 compared with guardian fees of £395 per calendar month.*
[button url=”https://www.dexpropertymanagement.co.uk/wp-content/uploads/2019/07/DEX-Infographic-AW-copy-Final.pdf” text=”infographic: Average Monthly Guardian Room Prices vs Private Sector Costs”]
Looking for cheap rent London?
To find out more about guardianship in London, please visit dexpropertymanagement.co.uk or email your enquiry to hello@dexpropertymanagement.co.uk
