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Budget hotel in London required, Vauxhall or Southwark

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My preferred area was Victoria or Pimlico until I tried to find reasonably priced accommodations for June 2016. I'm flying in/out of Gatwick so I thought those two areas would be the best choice. Hard to believe that many of the hotels, even the chain hotels, were already booked (price range is up to £120/night for a double).
Now I am considering Vauxhall or Kennington, even Southwark, thinking that perhaps the cost would be less than Kensington or Chelsea. What is your assessment of these areas? I do not want to go as far north as St. Pancras or west to Earl's Court.

Regarding LondonTown, do the hotel prices fluctuate very much? Perhaps I can wait until early 2016 to start my hotel hunt.

Thanks

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