BASINGSTOKE has been named as one of the cheapest places to rent within one hour of a central London station.

As the cost of rent in Greater London continues to grow – recently hitting a record high of £2,055 per month and currently 15 per cent more expensive than November last year – many people are looking to move to cheaper areas.

In light of this, rental experts at RentTech company Goodlord's have released a list of the cheapest places to rent within one hour of a central London mainline train station, including Hampshire-based areas Basingstoke, Aldershot and Farnborough.

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To help prospective renters find the best deals, the newest data reveals the most cost-effective areas to rent when commuting to many of the capital’s mainline stations, including Waterloo, Euston, King’s Cross/St Pancras, London Fenchurch Street, Liverpool Street, London Victoria and London Bridge.

Basingstoke has been placed on the list for being one of the cheapest places close to Waterloo, alongside Aldershot and Farnborough.

Basingstoke's average monthly rent of £872 with services as fast as 51 minutes via South Western Railway from Basingstoke station.

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Goodlords's Tom Mundy said: "As inflation hits a 40-year high, we’re seeing more tenants impacted by higher rents. Couple this with the lack of rental stock currently available and it’s fair to say that trying to find a rental property, within a specified budget, is proving extremely difficult right now. 

“Since Covid-19 a record number of Londoners have left the capital, but many are still commuting into central stations multiple times a week. For many of these renters, even finding affordable accommodation within one hour of London can be difficult, but there are options available for renters looking to get the most for their money.”