The average cost of renting an apartment in London is between £1,500 and £1,600 per month. However, this figure can vary significantly depending on the area of the city. For instance, the City of London has much higher rental prices than other parts of the capital. HomeLet reports that the average rent for new leases in London is £1,832 per month.
Additionally, HomeLet states that rents in London have dropped by 15.7 percent compared to the previous year.