Renters paying £1,037 a month in the cheapest city borough

Figures today show that average rents across London are nearing the £2,000 a month mark, while central rents in the City of London shot up by £524 in the past year to more than £3,000 a month.

Bexley and Barking & Dagenham have for decades been the cheapest boroughs for buying and renting.

They are now neck-and-neck in the cheapest rental league with the lowest average asking rent at £1,037 and £1,038 per month, according to the figures by independent residential property experts Move With Us.

In Bexley asking rents have increased by 14.9 per cent, or £155, in the last year, as renters move further out and landlords cash in. This reflects the 15 per cent rise in sale prices in the borough, where the average asking price now stands at £305,000, more than £87,000 less than the Greater London average of £392,366.