London Rent / Living Arrangements 2019
Hi All,
Just looking to get a rough estimate of where 1st-year analysts typically live in London, and how much is usually spent on rent? Taking £50k base for 1st years, that is roughly just £3k a month after tax.
I understand this will vary depending on if you work in CW, the city or Mayfair, but would like to hear from those that have gone through the process before to get a better idea of what I should expect come the fall.
Thanks!
Interested as well
Bump
depends if you're european or british
areas where most people tend to live: East (round shoreditch) Canary wharf north west (think st johns wood) West (wherever you / your parents can afford)
why the dichotomy between euros and brits?
If you're working in the City or Canary Wharf, my recommendation would be to look at East London in general. It's probably the most bang for your buck compared to overpriced areas in West London and Angel/Islington. South of the river (Bermondsey, Canada Water) might be an option but in my experience the transport links aren't as great as East London (DLR, all day buses)
Areas to look in in East are probably Wapping, Limehouse, Shoreditch (if you work in the city), Canning Town, and then areas around Canary Wharf / Isle of Dogs. Avoid Shadwell, Whitechapel if you can. What you'll realize in London is that there are pockets of very different neighbourhoods close to each other.
In terms of rent, probably best to look for a flatshare because studios run anywhere PS1.2K + for a pretty crappy place. A lot of new builds have cropped up in East London so target those, rent will prob be around PS850 - PS1000 plus tax and bills. You can usually find a two bed, two bath for that range in my experience. Obviously, the more flatmates you have, the cheaper things will be so depends on personal preference. I work in Cap Mkts so hours aren't too bad and I do have time to spend at home so prefer having one other flatmate.
Good luck.
East london is a sh*t hole. Not exactly banker territory mate.
Better for him to live in a place where he can head out for nightlife
Don't disagree a lot of areas in East London are dodgy but there a few places where it's completely fine. I personally haven't had any issues living in East London and a lot of bankers live around there due to the proximity of work.
As for nightlife, a lot of things going on in London so its not really in one area, East London makes it convenient to get home because its so central.
Mostly agree with you. But I actually think that Whitechapel is great (i.e the Goodman’s fields development)
When you work in CW you should rather look for any spot close to Jubilee line. It's much quicker than DLR
Cheers for this. It does appear the more west you go, the more overpriced it tends to be.
Do you have any similar insights as well for people working in Mayfair? A bit more niche I understand. Thanks for the above!
I live in London but not an analyst. But I did rent as a first year.
Clapham is well connected to the city and on the Northern line. Typically rent is around £750-950 for shared or £1200 for your own place (without bills). Great Nightlight.
Other options are Bermondsey which is two stops on the jubilee from Wharf - cheaper at around £750-800
I'd avoid London Bridge - lots of tourists, crap nightlife and everyone i know who has lived there has been burgled.
Bermondsey seems pretty good, any information on the general area? Any reason it's a fair bit cheaper than surrounding parts? Seems like a very decent location with good transport links.
Bermondsey is okay but I would advise to not go too far East. In the far East its rural and not well connected to the City. You would want to focus on being close to Bermondsey Tube Station (Jubilee)
Would recommend to live close to the Jubilee Line, but avoid Canary Wharf itself. It may seem as if the practicality of being close to work beats the dull area, but I would strongly recommend you to go elsewhere.
East London could work, e.g. Shoreditch. Not a big fan in general though, but the more you head West the more expensive it gets. Stay close to Jubilee and you'll be fine.
i) Pimlico or Marylebone if you work in Mayfair ii) Around Liverpool St, Aldgate, Shoreditch if you work in the City iii) Do not work in CW
/Thread
Rough price points for each of the listed?
Seems like a lot of people cannot simply avoid the third option :o
Lol iii) when most banks have their offices there.
Actually, I disagree with you. Numbers wise, there are more banks in City/Mayfair combined than in CW
City
My favorite locations are Marble Arch/Marylebone area. Only 20min away by tube and close to points of interest in South Ken and Chelsea. Only downside is the price.
Personally really like London Bridge too. Very well-connected and vibrant with lots of good restaurants and most importantly at walking distance from Bank/Moorgate.
Canary Wharf
If you MUST work in Canary Wharf, then I would only consider London Bridge, which is only 3 stops away on the Jubilee Line.
You should expect to pay £1.0-1.2k rent all-in, and depending whether you're in South Kensington/Marylebone/(West London) or further in the East (Shoreditch or close to CW) you either get a decent but small 3-person flat share up to a larger apartment shared with 1-2 ppl.
Studios are extremely shit anywhere below £1.5k.
Amazing that no one has listed Stratford. Huge redevelopment area in the Olympic park with rents anywhere from 700-1100 mo in the EV properties. New builds, no deposit, 2mo break clause.
Proximity to the city is 20-25m and 15 or so to the Wharf. It’s quite boring in some sense at night and you do have to travel 30-60 minutes for good nightlife outside of hackney wick, but that’s a trade off for what I see as far easier QOL vs getting on the northern line (if you can) from a run down flat in Clapham or living in a shoebox in shoreditch.
London Bridge is also a great location for connectivity but I agree with the negatives above. KX is cool but very pricey.
@OP so you value proximity to work? nightlife? sport? Or proximity to travel hubs, etc?
I'm valuing more so proximity to work and would actually prefer a more quieter, 'safer' neighbourhood. I will also be working in the Mayfair area, should have specified.
For Mayfair, Battersea looks great, although probably better for a second year/first associate, as it's pricier. If you're near Bond Street (north Mf) there's a few options and near Green Park (south) there are loads. Both accessible on Jubilee so that opens up everything suggested in this thread on the line. If I worked in Mayfair I'd probably go for KX but as I say it's pricier, closer to 1.1k.
Your options with south mf are better because you can live in Vauxhall/Clapham [Stockwell]/Brixton too, declining price order. It depends on preference and if you're more "stereotypical" Wall Street you'll prefer SKen, Vauxhall, etc, but if you're less so, you can live in a "reasonably dodgy" area (E&C, Brixton) just fine. I would still avoid some areas of those as well as Tower Hams. Clapham is in the middle... it's great for nightlife and basically a continuation of uni, but terrible for transport.
Finchley Road and similar are options, still pricier (900-1.1k) but quieter. If you want to screw the cost down you're looking at either a terrible flat, or a 40 minute commute.
Definitely get a flat share. I would actually still recommend GetLiving (who own the Olympic Park East Village and a couple of towers at E&C) because they have 6m minimum, 2m break after that, lock in rent for 3 years, help you find a flat share, no deposit, and the E&C option is right on the station. The only downside with E&C is it's a bit more scary at night, but changed a lot in the last 3 years.
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