The average rent in Tower Hamlets is £1,649 according to a survey of properties carried out by HMRC's Valuation Office Agency between September 2020 and September 2021. Between the years ending September 2020 and September 2021, average rents in Tower Hamlets fell by £161. Compare average rent by area.
Tower Hamlets's average rent of £1,649 is £751 higher than the £898 average rent in England. Tower Hamlets is the 12th most expensive london borough (of 33 total) based on average rent price.
The average rent growth rate in Tower Hamlets between the years ending September 2020 and September 2021 was -8.9%. If rents continue to grow at this rate, average rents will fall to £1,136 by 2025.
The average cost of rent in Tower Hamlets varies depending on property type, prices start at £658 for a single room and rise to £2,825 for a house with four or more bedrooms.
Rental data for Tower Hamlets is based on a sample that may change over time. Some differences in trends may be due to changes in the sample rather than true changes in the rental market.
Within each property type, rent price can vary depending on variables such as property size and condition of fittings. For example, the lower quartile rent for two bed flats in Tower Hamlets is £1,500, increasing to £1,865 for the upper quartile rent.
Based on the 1,980 properties surveyed, the most common type of rental property within Tower Hamlets is 2 beds, which account for 40.9% of properties. In England, the most common type of property is 2 bed flats, which account for 42.1% of the rental market stock.
The least commonly available type of rental property is Single Rooms, which account for 1.5% of properties. In England, the least common type of property is Studio flats, which account for 2.5% of the rental market stock.
YoY change in average Rent
YoY CHANGE in AVERAGE Rent
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics