Haringey is home to London’s best Cycle Superhighways rental hotspot
The latest research from the international rental marketplace, Spotahome, has revealed the cost of renting across London’s network of Cycle Superhighways currently sits at an average of £1,976 per month; 20% more than the current average London rent.
Spotahome looked at the average rental cost per month in postcodes straddling each Cycle Superhighway to find the overall cost of renting along each route, as well as highlighting the most affordable spots for the capital’s cycle savvy tenants.
Most affordable Super Cyclehighways as a whole
The CS1 route from Tottenham into the City is the most affordable Cycle Superhighway for renting as a whole, with the cost in areas immediately across the route averaging £1,766 per month.
The CS7 route between Colliers Wood and the City is also one of the most affordable with an average monthly rent of £1,888, followed by the CS2 between Stratford and Aldgate (£1,912 pm) and the CS3 route between Barking and Lancaster Gate (£1,970 pm).
While all of these routes as a whole are home to a rental cost above that of the London average, there are pockets of the capital where you can rent within close proximity of a Cycle Superhighway and still pay below-average rental prices.
Most affordable Super Cyclehighway postcodes
The N15 postcode in Haringey is home to an average rental cost of £1,285. With the CS1 route running straight through N15 and into the city, it’s London's most affordable place to rent with easy access for those looking to commute via bike.
The IG11 postcode in Barking and Dagenham is the next most affordable at £1,325 per month, with the E13 (£1,371), N17 (£1,377) and E6 (£1,492) postcodes in Newham and Haringey also amongst some of the most affordable Super Cyclehighway rental locations.
Best value compared to the wider borough
When comparing each Super Cyclehighway postcode rental cost to its wider borough, the W2 postcode in Westminster offers the best relative value. The average rental price in the postcode is £2,215 per month, -27% more affordable than the broader borough of Westminster and with the bonus of a cycle route nearby.
However, it’s the N15 postcode which ranks as London’s top Super Cyclehighway rental hotspot. Not only is the postcode the most affordable of the lot, but it also offers the second-best value when compared to the wider borough. Rental costs in N15 are -23% lower when compared to the London Borough of Haringey.
The N16 postcode (-18%), N17 postcode (-17%) and the E3 postcode (-17%) are also amongst some of the best value for budding cyclists where rental costs are concerned when compared to their wider boroughs.
UK and Ireland Country Manager of Spotahome, Nadia Butt, commented:
“We’re certainly seeing tenants starting to prioritise alternative methods of commuting such as walking or cycling in the wake of the current pandemic.
While a tube station used to be a top priority, more and more and now looking to the capital’s Cycle Superhighways as their primary method of traversing the London landscape. So rental properties within reaching distance of these routes are understandably growing in demand.
Although the overall cost of renting along these routes comes in above the London average, there are plenty of postcode pockets that offer not only below-average rental prices but also provide excellent value to tenants when compared to the wider cost of renting within those boroughs.
So not only can you opt for a more affordable option but living close to your preferred transport link will actually save you more money in some places. Couple that with the cost you’re saving by commuting via tube, as well as the additional health benefits of cycling, and it’s a win-win situation.”
