Living Costs and Standards of Living in the United Kingdom
London is rated to be one of the most expensive cities in the world, even more so than New York. According to the latest survey by the Economist Intelligence Unit’s (EIU) regarding the annual worldwide cost of living, there will be an increase in price on imported goods after Brexit. People who largely consume these imported products may not continue to enjoy the same luxuries. Still, foreign consumers who are looking forward to buying British goods are in luck as it will be cheaper for them in the upcoming two years. The changes are still yet to be seen so it is still safe to say that foreigners should look forward to saving up before and during their stay.
- East London – £450- £720 (Sharing flat rental) and £900 – £1000 (One-bedroom flat rental)
- West London – £430 – £690 (Sharing flat rental) and £850 – £960 (One-bedroom flat rental)
- Compared to other cities, London is still ahead so it can be useful to pack clothes and necessities from your native country, as it is one of the most strategic ways to live in London until the first pay cheque arrives.
- South London £450 – £800 (Sharing flat rental) and £720 – £840 (One-bedroom flat rental)
- North London £350 – £700 (Sharing flat rental) and £750 – £900 (One-bedroom flat rental)
- Grocery stores and restaurants can be expensive, with the average grocery bill going up to £165 for two people which is higher than some American cities. A visit to a mid-priced restaurant can cost up to £40 while fine-dining restaurants with alcohol can be about £120-140, and a bottle of wine can take £10 out of your pocket. McDonald’s is the cheapest at £5 a meal and coffee at £3.