[barrkel]

You can get a 3-room house with garden and parking for less than £300 per week. I know because that's what I have; 10 minutes by motorbike to Old Street, or 40 minutes by public transport.

The wildcard is your qualification of "nice area". There's a very wide scale, and what would qualify as "nice" somewhere else will be a lot more expensive here. I've never felt physically in danger, though I have had motorcycles stolen.

[theorique]

As an admitted tourist, my most tangible reference point was my friend's place in Marylebone, for which I believe he was paying about £500 pw. It was a 2 BR in a quiet, clean building but not over-the-top luxurious. I suspect the price came from the central location in City of Westminster.

Similar to NYC / SF prices if you do the conversion.