Cost of Living

Living in London can be expensive (at least in comparison to many other global cities in my opinion) but it’s always worth it in terms of public infrastructure and amenities. Here is a rough guide to costs that you would do well to budget for. 

Cost of Living in London Calculation

Moving to London for work is an exciting new chapter, but it can feel overwhelming when it comes to planning your budget. Having recently supported someone close through their relocation, I’ve seen firsthand how understanding the costs can make a big difference. Here’s a breakdown based on real experiences to help you prepare:  

Moving Costs (Don’t Forget These)

• Airfare
• Shipping and Packers & Movers Costs- Can usually start from £2,000 by sea and go up to £4,000 by air.
• Visa Fees and Healthcare Surcharge (as listed above)

1. Accommodation  

Your home away from home is where you’ll likely spend the most.  

Serviced Apartments: Ranging from £2,500–£5,500/month, these are a lifesaver for corporate relocations. They come fully furnished with utilities and services included—no surprise bills! A friend of mine moving for work found this option perfect as it gave them peace of mind and time to focus on settling in.  
Private Rentals: These cost £1,500–£3,500/month for a one-bedroom apartment depending on the neighbourhood. Central locations like Chelsea are luxurious but pricier, while areas like Greenwich offer a mix of affordability and charm.  
Council Tax: This varies by borough, from £100–£200/month—something my colleague didn’t realize until their first bill arrived!  

So if you want a detailed description and calculation about council tax then download the guide, it comes with expat advice to make it minimal.

2. Transport  

Getting around London is easy but comes with its costs.  
Public Transport: With an Oyster card, expect to pay £150–£250/month for zones 1–3. It’s the go-to for most professionals, including someone I know who traded their car for the convenience of the Tube.  
Car Ownership: Rarely necessary and costly—parking, fuel, and insurance average £300–£600/month.  

3. Utilities  
Keeping your home running smoothly:  
Electricity, Gas, Water: £150–£250/month for a one-bedroom flat.  
Internet: Reliable broadband costs £30–£50/month.  

3. Food & Dining  

Groceries: A single person can expect to spend £250–£400/month. We have mentioned many insider tips in the guide which will not put a hole in your pocket—they’re not just cheaper but a fun way to immerse yourself in the city.  
Dining Out: Casual meals cost £15–£25, but a celebratory dinner at a nice restaurant can cost you more.

Key Factors On Rent and Living Costs: 

• The average rent in London stands at around £2,121 per month as of April 2024.
• The cheapest average rent is in Bexley (£1,520) with the highest in Chelsea and Kensington (£3,459).
• There are several affordable zones where you can find one-bedroom flats at £1,200 per month and upwards.
• Also consider utility bills, council tax, and service charges in your total costs. 

Final Tips  

Relocating can be hectic, but small things can make it smoother. Consider serviced apartments—they bundle utilities, Wi-Fi, and maintenance into one package. The guide comes with a detailed view and calculations about the cost of living in London, trust me it will make your life easier.

If you're ready to take the leap, Thesqua.re offers serviced apartments in London’s best locations.