A Break Up of Cost of Living in London

Moving to a new country can be exciting, daunting, and confusing. And to move to the vibrant city of London, which is known for being the most prominent cultural, transportation, and economic centre in the United Kingdom – comes at a cost. From the cost of living in London to monthly expenses in London, you need to be aware of each and every aspect before making a decision. 

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Why Choose to Live in London? 

Planning to shift to a different country can be a crucial and overwhelming decision. But you might not need to think so much in a city like London. London is the top choice for many people, with an excellent education system, exquisite architecture, and a history that goes back to 2000 years. 

Following is a list of reasons to choose to live in London: 

Diversity

With 1/3rd of London’s population being born in foreign countries, the city is known for being diverse, inclusive, and multicultural. London is considered to be the most diverse city in the United Kingdom. Furthermore, with a diverse range of ethnicities, you will find a wide range of restaurants from cuisines all over the world. 

Education

London is known to have some of the best schools and universities in the world. There are over 30 higher-education universities in London. These universities provide students with an excellent education. 

Safety

London is amongst the Top 20 cities that are the safest to live in. It has the highest number of police officers, and many efforts are made towards safeguarding the citizens as well as the tourists. 

Job Opportunities

There are numerous multinational companies based in London, and the city is considered a major international commerce hub. There are a lot of job opportunities in the city with great pay. 

Transportation

A vast public transport network spans the beautiful city of London, including an underground system, train lines, and bus lines.

Climate

Every city’s season or weather depicts its beauty differently. Although the city has moderate rainfall throughout the year, in the spring season, London experiences the maximum rainfall. The weather remains cool and pleasant during the summers, and during the winters, the snowfall on the streets and the festive decorations are a sight for sore eyes.

London is a great city to live in; everything is top-notch, from the mesmerizing skyline to mouth-watering cuisines. However, there are certain factors, like the cost of living in London, that you need to take into consideration. Keep on reading to find out more.

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Average Living Expenses in London 

Transportation

• Single tube ride- £2.30
• Single bus ride – £1-2
• Single taxi ride – £10-15
• One day bus and tram pass – £5.20 

Food 

• Dining out should cost an individual around £11
• A meal at Starbucks – £13

Leisure

• Tickets to a concert for two – £83
• Comedy Show – £8
• Orchestra – £34

Housing / Accommodation

• Apartment (1 bedroom) in City Centre – £2,010 per month 
• Apartment (1 bedroom) Outside of Centre- £ 1,431 per month

Utility

• Internet Connection – £20
• Approximate price per month including water, electricity bill – £160
• Bottled Water – £3.23

Healthcare

• £85 for Private healthcare, and for English residents, healthcare is free in London

The above-mentioned monthly expenses in London are average, and the exact amount depends upon your preferences and likes. For instance, for housing, the cost might depend upon the type of house, the location, and the size. Furthermore, the cost of food and travel might also vary. 

The cost of living in London per month might be considered expensive. However, the wages balance it out. Also, the city provides student discounts and loans to make their education more easy and accessible. 

Top 7 Universities in London 

Average Salaries in London

The average wages in London are amongst the highest in the world. The average net salary in London is currently between 3300 and 3800 GBP per month net for most professions. However, the salary may vary depending on your profession. For instance, for an aerospace engineer, the average salary might be £53,211/per year. Therefore, these high wages make it feasible to incur living expenses in London.

Conclusion

The average cost of living in London might seem as expensive, but with the city’s high wages and beauty, everything balances out. You’ll always find something to see and do, no matter what time of year it is or even what time of day it is! World-renowned attractions like Big Ben and world-class craftsmanship displays like the Tate Modern are just a few of the things you’ll find on the island.