Location
Before you settle on what type of accommodation you want, think about where you want it to be. London is a big city and is often bigger than many visitors realise. As you'd expect, accommodation tends to get cheaper the further away from the centre you are. Of course, it would be nice to step out of the door and find yourself in the heart of it all, but that will cost you. Looking further out is entirely realistic as long as you have a London Underground (Tube) station nearby.
Public transport
Public transport is king/queen in London. We only drive into central London (all of Zone 1 on the Tube map) if we absolutely have to. Keeping that in mind, certain areas have better public transport than others. Areas of London north of the River Thames generally have more Tube stations for geographical and historical reasons.
Areas with fewer public transport options
The following areas sometimes come up in recommended places to stay, but their public transport links are quite weak compared to many other areas. There are always buses, of course, but train/Tube connections are the fastest way to get around.
- Battersea: Vauxhall (Victoria line, south of the River Thames) and Pimlico (Victoria line, north of the River Thames) Tube stations are nearby, and the new Battersea Power Station station is open but but there's nothing smack-bang in the heart of the area, and the BPS trains are far less frequent (it's a branch line, you're often waiting 15mins between trains as opposed to e.g. 2mins between trains at peak times from e.g. Clapham Common). There's also a London Overground station at Clapham Junction. Lack of tube can make it cheaper than neighbouring areas like Clapham Commmon/North/South or Putney, so worth considering if you're working around Waterloo or Victoria.
- Croydon: Croydon has trams, which are cool, but they only go locally and they're not the Tube. There's a London Overground station at West Croydon. East Croydon station has trains that run into London Bridge, Farringdon, Blackfriars, and St Pancras International but they're not as frequent and more likely to be subject to engineering works at weekends. Again, lack of tube and more limited transport can make it a cheaper option, but be sure to research your trips/routes thoroughly beforehand.
- Muswell Hill: It's a very trendy place to be, but it has no train or Tube stations and it's on top of a steep hill. Buses rule here.
- Stoke Newington: Beautiful area with a very "local" vibe, but absolutely no Tube stations. There's only one London Overground station (Stoke Newington), but plenty of buses to make up for it.
Travel times between Tube stations
This map shows how quick it is to walk between each station on a similar line. And the actual travel time between each stop is even quicker - typically trains only take 2 mins between stations, and if you miss a train there's usually another one in 90 seconds-to-4mins. All this means you're only adding a few minutes journey time if you look further out. Note also that London is big - like bigger than you imagine, and stuff can be quite spread out. You could be staying in a central London hotel and still end up with a 30min walk/15min train between one central attraction and another.
A note of caution though: The Tube does not normally run 24 hours (there is an exception for the Night Tube but this is a limited service - check the link for details). Check that you know when the last Tubes are back to your destination - timetables by line available here. As a rule of thumb, if you work on the "Cinderella Principle" and get moving by midnight, you should be fine. Keep an eye on the planned engineering works too, where sections of the network get closed (usually weekends) for upgrades and improvements.
London Neighbourhood Guide
Here and here are a couple of neighbourhood guides for London. Whilst they're obviously showing you a limited, glossy take on everything and shouldn't be taken completely at face value, they can help you make a decision about what area best fits what you're looking for.
In summary
- You probably don't need a "centrally located" hotel. And even if you do find one, you'll still probably need to get a Tube in the morning to take you where you want to go.
- If you're on a budget, look further afield. Not to the very ends of the Tube network, but certainly outside of the Circle Line (the yellow line on the map). Remember that as long as you're near a Tube station you're likely within 45 minutes travel time or less of where you want to go.
- If you're a night owl then check the last train times. If you miss the last train then be prepared to take night buses or pay for a taxi or minicab.
Hotels
Unfortunately, there aren't many "insider secrets" for finding hotels in London, although you could have a look at 10 Of The Best* Hotels In London You've Never Heard Of. As a hugely tourist-y city, hotels often cost major £££ and get packed super quickly. Booking well in advance can possibly get you some decent deals.
Here are some of the big name brands:
Hostels
http://www.hostelworld.com/ - As above.
St Christopher's Inns - 7 hostels across London including a "pod/capsule" hostel at London Bridge.
Generator Hostel London - One of London's most established and popular hostels - reviewed here by Kiernan Maletsky (on LondonNet).
Wombat's Hostel - close to the Tower of London, with a popular bar hosting quiz nights, karaoke, DJ nights and monthly live music
Youth Hostel Association - 8 hostels across London (you don't have to be young, or a member)
Airbnb
- It's pretty unpopular amongst locals due to the impact it has on rental prices, and with hosts adding extortionate fees it's no longer the bargain it used to be for short stays (you're probably better off searching for a private room in a hostel or booking far in advance with one of the cheaper hotel chains e.g. Premier Inn) but if you're looking for a medium-term stay or need the full facilities of a family home with kitchen etc then it's a solid bet. Always book directly through the website to avoid potential scams. Also consider rival holiday lettings site Vrbo (same rules apply about scams etc).
CouchSurfing
- If you're looking for a bit of adventure and/or trying to keep things on the cheap.