Cost of renting a single room in Kensington increases 23% in five years

The soaring cost of renting property in prime central London has once again come under the spotlight following WikiLeaks founder Julian Assange’s arrest at the Ecuadorian Embassy.

Property share platform ideal flatmate estimates that Assange saved in the region of £150,000 in rent while living rent-free at the Ecuadorian embassy.

Rental costs in the capital continue to account for one of the largest living expenses Londoners face, and nowhere across London is more unaffordable than Kensington, and Chelsea and Knightsbridge in particular.

Rental costs in the borough, where the Ecuadorian Embassy is located, are among the highest in the capital having increased over 23% since 2012.

The current average rent for a room in Kensington and Chelsea is £1,928 a month, which is up from £1,565 a month five years ago.

Tom Gatzen, co-founder of ideal flatmate, commented: “Of course, Kensington sits at the top of the table where rental costs are concerned but it does go to show how the cost of renting in London continues to spiral out of affordability for many.”

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