Cost of Living in London

By Joshua Wood, LPC

William Russell Expat Health Insurance

Summary: The cost of living in London routinely ranks among the highest in the world. Here is some basic information about the realities of living in London and what you'll need to consider when deciding whether or not to move there.

Living in London - Cost of Living in London

Expats should know London's cost of living routinely ranks as one of the most expensive in the world.

Property Costs in London

In an article about why London is so expensive, the Guardian proclaims there's a chief culprit:

"And then there's the biggest cost of all facing most London businesses. This, as it happens, is also the biggest cost facing most London residents: property. Commercial rents in London are high for the same reason that residential rents are: there's huge demand for tightly constrained supply."

However, the cost of housing in London fell significantly in 2019, as also noted in the Guardian. "Despite a prolonged period of ultra-low interest rates, prices in London have been affected by... the difficulty first-time buyers have in affording prices that are still comfortably the highest in the country and the reluctance to take on big-ticket items of expenditure during a period of Brexit uncertainty."

Expats in UK may get a free expat health insurance quote from our partner Allianz Care, whose plans ensure that you have access to quality healthcare whenever you need it. Allianz's flexible solutions allow you to tailor your cover to meet your needs and budget. Get a Quote

Expats in UK may get a free expat health insurance quote from our partner Allianz Care, a leader in international insurance for expatriates. Allianz's plans ensure that you have access to quality healthcare whenever you need it. Their flexible solutions allow you to tailor your cover to meet your needs and budget..

Currency Fluctuations Impact Expats in London

However, remember to consider the impact that fluctuations in currency will have on your budget. In 2019, the British pound experienced significant weakening against the dollar as the ramifications of Brexit and the state of the U.S. and U.K. economies were debated by the media and investors. This can have a real impact on your purchasing power - for better or worse - so don't ignore these realities and think you're immune to them!

Imagine moving to London and then having the costs of housing rise up again, which could result in you being subjected to a much higher rent. Alternatively, imagine getting a great deal on buying an apartment, having the currency jump and then you're living in a great apartment but can't afford the other expenses of living in one of the most expensive places on earth. Do your research and consider all possibilities!

British expats considering moving home in light of Brexit should carefully consider the impact of expat taxes for U.K. citizens.

Specific Costs of Living in London

You can read about the specific costs of living in London on Numbeo.com.

Also view the difference in cost of living between London vs. New York City, London vs. Berlin and London vs. Montreal.

allianz care expat health insurance

For expats in UK, choosing an expat health insurance provider is an important decision. Get a quote from our partner, Allianz Care. Their plans ensure that you have access to quality healthcare whenever you need it. Allianz Care's flexible solutions allow you to tailor your cover to meet your needs and budget.

Get a Quote

Tax Implications of Living in London

As for U.S. expats, carefully explore information on the IRS website for U.S. taxpayers living abroad. It's important for U.S. expats living in London to understand how these costs will impact you. Here are the current U.S. and U.K. tax treaty documents on the IRS website.

Expat Banking in London

Your ability to open an international bank account, or an account in a local bank account in London, will be impacted by your individual financial position, the country you are moving to, your citizenship, the policies of each financial institution, and more.

Expat banks often require you to make a large deposit before they'll open an account for you, so you'll need to consider if that makes the most sense for you. Check with your current bank at home before moving to London to see if they have a relationships with a bank in London or even a branch of their own there.

In short, carefully research what you need to know about expat banking while living abroad to avoid unnecessary fees and other possible financial complications.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000. Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Some of Joshua's more popular articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and 5 Best Places to Live in Spain. Connect with Joshua on LinkedIn.


Allianz Care Expat Health InsuranceExpatriate Health Insurance

Get a quote for health insurance from our partner, Allianz Care.
Get a Quote


 

London, UKGuide to Living in London, UK
London, UK: Cost of Living, Healthcare and What to Know About Living in London

UK Forum UK Forum
Join our UK forum to meet other people living in London, UK.

UK Forum Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in London.

Best Places to Live in LondonBest Places to Live in London

Here's a guide to the best neighborhoods in London. There are a lot of options for a lot of different situations. We'll be adding new neighborhoods and updating it regularly.

Healthcare in UKHealthcare in UK

Expats in the U.K. are able to utilize the public health care system, which is managed by the NHS. Many expats want to have private health insurance to help reduce wait times and several other reasons. Read for more details on how to navigate the system. Plus, a list of the best hospital in London.

London, UKMoving to London, UK

Expats offer advice about everything you need to know before moving to London: what to bring (and what to leave behind), how to find housing and more.

Cost of Living in LondonCost of Living in London

The cost of living in London routinely ranks among the highest in the world. Here is some basic information about the realities of living in London and what you'll need to consider when deciding whether or not to move there.

Schools in LondonInternational Schools in London

Families moving to London who are interested in an American curriculum, IB program or bi-lingual education for their children, may be interested in these popular expat schools.

London, UKExpats Talk about Living in London

Expats share their experiences living in London, UK and offer advice about meeting people, schools and more.

Moving-to-LondonMoving to London

Expats describe London as a love it or hate it city. With it's high cost of living and rainy weather, it's not for everyone. But, those who move to London and love it will tell you that the city's tremendous diversity, vibrant nightlife, incredible restaurants and varied neighborhoods.

Expat Report: Living in London

An American expat in London offers some advice on what it takes to get settled in the UK's capital city.

Healthcare-in-the-UKHealthcare in the UK

Expats in the U.K. are able to utilize the public health care system, which is managed by the NHS. Many expats want to have private health insurance to help reduce wait times and several other reasons. Read for more details on how to navigate the system.

10-Tips-for-Living-in-the-United-Kingdom10 Tips for Living in the United Kingdom

Expats in the United Kingdom live in one of the most sought after destinations in the world. Its four countries - England, Wales, Scotland and Northern Ireland - offer expats a broad range of expatriate experiences.

5-Tips-for-Living-in-St-Albans,-England5 Tips for Living in St Albans, England

Expats living in St Albans live in a suburb with a very easy commute to London. Almost all of the areas within St Albans are desirable. In addition to a lot of options for enjoying the great outdoors, there's plenty of shopping, dining, and pubs.

5-Tips-for-Living-in-Hassocks,-England5 Tips for Living in Hassocks, England

Expats living in Hassocks live in a suburb with a relatively easy commute to London. It's proximity to the South Downs and Brighton make Hassocks a small town worth considering a London suburb.

GeoBlue International Health Insurance

Write a Comment about this Article

Sign In to post a comment.
addacomment
Allianz Care Expat Health InsuranceExpatriate Health Insurance

Get a quote for health insurance from our partner, Allianz Care.
Get a Quote

London, UKGuide to Living in London, UK

London, UK: Cost of Living, Healthcare and What to Know About Living in London

UK Forum UK Forum
Join our UK forum to meet other people living in London, UK.

ContributeContribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in London.

Best Places to Live in LondonBest Places to Live in London

Here's a guide to the best neighborhoods in London. There are a lot of options for a lot of different situations. We'll be adding new neighborhoods and updating it regularly.

Healthcare in UKHealthcare in UK

Expats in the U.K. are able to utilize the public health care system, which is managed by the NHS. Many expats want to have private health insurance to help reduce wait times and several other reasons. Read for more details on how to navigate the system. Plus, a list of the best hospital in London.

London, UKMoving to London, UK

Expats offer advice about everything you need to know before moving to London: what to bring (and what to leave behind), how to find housing and more.

Schools in LondonInternational Schools in London

Families moving to London who are interested in an American curriculum, IB program or bi-lingual education for their children, may be interested in these popular expat schools.

London, UKExpats Talk about Living in London

Expats share their experiences living in London, UK and offer advice about meeting people, schools and more.

Moving-to-LondonMoving to London

Expats describe London as a love it or hate it city. With it's high cost of living and rainy weather, it's not for everyone. But, those who move to London and love it will tell you that the city's tremendous diversity, vibrant nightlife, incredible restaurants and varied neighborhoods.

Expat Report: Living in London

An American expat in London offers some advice on what it takes to get settled in the UK's capital city.

Copyright 1997-2021 Burlingame Interactive, Inc.

Privacy Policy Legal