Save Money by Moving

The cost of living is rapidly increasing and while Boris Johnson has suggested people turn off their heating and buy cheaper groceries there is a way you can save money by moving home.

A Hamptons report reveals an average London household spends £23,380 per year on rent and almost £3,000 per year on bills. London rents are expected to rise another 1% across 2022, which is on top of the 5.8% increase we saw in 2021.

In order to tackle rising rental prices people have started moving to cheaper boroughs. With the average rent for a London flat being £1,650pcm people are turning to areas like Barnet which sits under the average at £1,530 instead of the £3,960 high costs of Kensington.

For those who have not secured full remote working, location becomes a big feature. But instead of looking for something close to a tube station people are hunting for homes close to work.

Fares across the public transport network have increased by an average of 4.8% as of the 1st of March 2022, meaning it is a lot more economical to live in the same zone as you work or potentially save even more money by avoiding public transport by walking or riding to work.

Many are having this idea and the property market is moving very fast so work with your local lettings agent to make sure you get the right home for you before it is gone.