Central London is one of the busiest but best London neighbourhoods because you are close to just about everything.

Right in Piccadilly, home to the biggest London shopping areas, cinemas, clubs and theatres is the Piccadilly Backpackers Hotel (12 Sherwood Street; Piccadilly Circus)

It is a large London hostel and despite being bang in the centre of London, beds are booking now at just £24.20 a night!

Meanwhile, located directly opposite the world famous British Museum is the Astor Museum Inn (27 Montague Street; Russell Square), which has rave reviews and an even better review on price, as beds start from only £15.

For London hostels in Kings Cross, which is ideally located for people arriving in London from the north of England or on the Eurostar, try Journeys Kings Cross (54-58 Caledonian Road; Kings Cross St Pancras).

This is a large London hostel, with beds from £11.95 and dorm rooms for up to 15 people.

People arriving in London from Gatwick Airport or on the coach from another London airport will find London hostels in Victoria, such as the Astor Victoria (71 Belgrave Road; Victoria or Pimlico) are perfectly situated for them, as it is just a short walk from Victoria Station.

With beds from only £18 a night, this large London hostel puts you in one of the smartest London neighbourhoods and right next to top tourist sights including Buckingham Palace.

Camden is one of the most youthful and trendy London neighbourhoods and there is plenty to do day and night in the area.

Unbelievably, you can find London hostels in Camden from just £9.99 a night at the Camden Inn (55-57 Bayham Street; Camden), which provides you with plenty of money left over to enjoy London.

Slightly further north of Camden is the Palmers Lodge (40 College Crescent; Swiss Cottage), an impressive Victorian 250-bed London hostel with rooms from only £19 per person.

Here, you are in prime location for both Regent's Park and Hampstead Heath and it is just minutes away on the tube to Central London.

If you're heading to a gig at Wembley Arena, the Hillspring Lodge (233 Willesden Lane; Willesden Green) is well-situated for getting there and as it is a little further out, beds are booking now from only £11 a night.

Hostels in South London provide good access to transport links from Waterloo and London Bridge and are ideally located for getting to the O2 Arena in North Greenwich.

Not only this, but there are loads of things to do in South London neighbourhoods, from the Imperial War Museum to the Greenwich Observatory.

Journeys London Bridge Hostel (204 Manor Place, London Bridge; Kennington) is even close to the Oval cricket ground.

Over in Greenwich, Journeys Greenwich West Hostel (86 Tanners Hill; New Cross) is not only one of some great hostels in London for getting to the O2 Arena, but it is also perfect when arriving in London from City Airport as it is minutes from the Docklands Light Railway.

Not far from Battersea and Chelsea is the Queen Elizabeth Hostel (58 Bagleys Lane; Imperial Wharf), a small London hostel with beds from only £12 a night.

London hostels in Paddington are a great place to stay when arriving in London from Heathrow Airport, as it is where the Heathrow Express terminates.

Dolphin Inn (44 Norfolk Square; Paddington) has beds from just £14, which is great considering how close the London hostel is to the nightlife of West London.

You can find plenty of London hostels in Bayswater, a popular London neighbourhood for tourists and travellers.

From just £10.99 a night, the Royal Bayswater Hostel (121 Bayswater Road; Bayswater or Queensway) is a large, 250-bed London hostel with ensuite bathrooms in every room.

Or, for an astoundingly cheap London hostel in Bayswater, try the 300-bed Hyde Park Hostel (2-4-6 Inverness Terrace; Bayswater), which has beds for just £6.99 if you book now!

What's more, it is minutes from Hyde Park, the nightlife of West London, Portobello Road market and Oxford Street shopping.

If shopping is your thing, then the Westfield Hostel (218 Uxbridge Road; White City) is a short walk away from the Westfield Shopping Centre, the largest mall in Europe.

It is a very small London hostel, with rooms from just £17.50 a night per person.

Hammersmith Rooms (28-30 Bute Gardens; Hammersmith) is one of many London hostels in Hammersmith, a popular ex-pat community of Australians and backpackers.

TravelStay has rated this a top pick as it offers great value London accommodation with so much to see and do in the area. Beds here start at just £13.80.

You can still find London hostels in Earls Court and Kensington, even if they are upmarket London neighbourhoods.

The Astor Kensington (138 Cromwell Road; Gloucester Road) has beds from only £17 a night and is just down the road from the London museums, including the Natural History Museum, as well as Harrods department store.

East London hostels are a great way to cut down costs when staying in London, while still being able to get to Central London in less than half an hour.

Hackney is a trendy London neighbourhood, attracting lots of arty types and students. Here, the Silk House Hotel (100-102 Hassett Road; Homerton) is easily-located to Shoreditch bars and clubs for a great night out.

York Hotel London (8 York Road, Ilford; Gants Hill) has rooms from just £15.75 per person and is perfect for the budget traveller as you can hop onto the Number 25 bus and it terminates in London shopping heaven Oxford Street.

If you want to be a little closer, London hostels in Stratford are a great option. The Stratford Hotel (43 Romford Road; Stratford) is a one-star budget London accommodation with beds from only £18.75.

Located on the DLR, this is perfect if you are arriving in London from City Airport, but it is also on the Central line for access to Central London and on the Jubilee line, which travels directly to the O2 Arena.

For just £15 a night you can find London hostels in Walthamstow, in the heart of the East End, at the Stress Less Walthamstow (150 Hoe Street; Walthamstow Central). This hostel in London will become particularly useful once the Olympic site is up and running.

Whichever hostel in London you decide to go for, you can be sure that TravelStay has got the best price, allowing you to just enjoy your visit!