London Rents Map

The Mayor of London has opened a new website to help Londoners rent their flats. The idea is that Londoners will be able to compare average rent levels for homes across the capital, using a new interactive website. I can’t comment on it’s effectiveness yet, because currently the website isn’t giving any results (presumably glitch to be fixed shortly).

The idea is that – unlike existing search portals which show asking prices posted by estate agents and individuals rather than rents achieved – it is based on actual market rents, however it’s data source is “lettings information gathered on a goodwill basis from agents, landlords and tenants.”, so I would think that it won’t add to the information currently available  - but any additional information is always welcome. Based on data for the 12 months to December 2009, average rents across London are £92 for a room  in a shared property, £150 for a studio flat, £185 for a one bedroom home, £230 for a two bedroom  home, £277 for a three bedroom home and £395 for a home with four or more bedrooms.

Given that the data is based on the data from the old Rent Officer agency which routinely assessed “Fair Rents” at 30% of  market rents, the output from the website should be taken with a pinch of salt. Perhaps more contentiously the website goes on to give renters specific advice as to where they should look to find rented accommodation, recommending the National Association of Estate Agents website to look for registered estate agents rather than the largest and generally recommended ARLA agency. The website also goes on to recommend certain specific website portals for search which rather smacks of commercial bias, or a lack of research. Obviously I need to write a blog giving the insiders view as to better ways of finding a flat to rent!

Anyway – it may give incomplete advice, and not work yet, but nevertheless I hope the Mayor’s new rental website will make Flat hunting a happier and more successful experience. I can’t help wondering whether this new website is as a result of  the Government consultation paper recommending Local Authorities set up Letting Agencies.