Rents in SE1

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Sunday 7 September 2008 7.15pm

We're coming to the end of a 12 month tenancy on a 2 bed place just off Bermondsey Street and are wondering on what to do. We currently pay 400 per week but it seems that since we moved in more and more flats have been developed and there is more on the market.

We are considering staying put but were wondering what has been happening to rental levels in the last 2 months. Can anyone help? Is there any evidence of rents dropping in the area?

Thanks in advance.

Monday 8 September 2008 11.25am
Hi LN, stay there, rents are going up as i write this! i missed the SE1 party because i was flathunting with my daughter - 220gbp pw for 1 bedroom off old kent road with broken fridge & no washer/dryer & 240gbp for 1 b/r off waterloo road with no heating, broken bath & black mould on the ceilings - and similar, all through agents too! seems like the whole world is trying to rent in SE1 right now.
Monday 8 September 2008 1.54pm
Come half a mile East! We're paying 280pw for a decent sized 2-bed on Southwark Park Road, and touch wood it hasn't gone up since we moved in two years ago.

People trying to rent out properties similar but slightly smaller at that price have found them stuck on the market and had to reduce. Yet it's only four bus stops away.
Tuesday 9 September 2008 12.05pm
Quick rule of thumb. Unless you negotiated a big reduction when you moved in, the fact that you are living on Bermondsey St almost guarantees that you're paying top dollar. B St combined with the words "Architect Designed" ("pan-fried", or "oven baked" anyone?) makes it a dead certainty.

I'd try polite resistance to the idea of a raise, backed up with a little of your own research as to what similar flats are currently going for.

...if you press it, they will come.
Tuesday 9 September 2008 2.13pm
Thanks for the advice guys. What we might do is look at some decent alternatives and see where the ground lies with rents. The Landlord won't want to break the lease (soon to be 1 month mutual break) and we can find out what we can get elsewhere before negotiating.

Agree about the Bermondsey Street premium, ours comes with the attractive addition of being "diseptively spacious".


Thursday 11 September 2008 4.12pm
landlord always has to give two months notice in a periodic tenancy, seems like a fair price, is it two doubles, two baths

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