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“Who Would Move to London?” The Cost Debate for Moving to the Capital

“Who Would Move to London?” The Cost Debate for Moving to the Capital

Everybody knows that on average, the south of England is more expensive than the north. This is even more the case when you weigh the cost of living in London against living in somewhere like Leeds, Liverpool or Newcastle.

Thanks to the fine people at Homelet, you can see just for yourself how expensive it is to live in London versus pretty much everywhere else in the country, but despite the high rent costs, people still flock to the capital. So are people missing a trick? How are people affording to pay to live in London and why would you want to anyway? What’s So Great about the Capital? Asking what’s so special about London is like asking what’s so special about a Sunday roast. London is an institution and it’s one place in England that everybody around the world knows. This means that people from across the world flock to the capital to become one of its (near) 8 million residents. With world chart topping universities like Imperial and University College, the University of London is one of the finest in the world, and the diversity in careers, culture and lifestyles that can be found there is undeniably unmatched.  So now we’ve established what’s so special about London, we can ask whether there’s a financial case for living there, too. Three Financial Cases for Living in London In short, although it is more expensive to live in the Capital, wages are higher, public services are better, and there are more free things to do to keep you occupied. Let’s take each in turn:

  • London Wages – Although the average national wage is £26,019, the average London wage is estimated to be roughly 125% that of the national wage, putting it over the £30,000 mark.
  • Public Services – with hundreds of free museums, some of the cheapest bus prices in the country per mile, and an incredibly efficient underground network that’s very well connected, it’s easy to see why life in London can be fast moving and fun all the time.
  • Free Attractions – Just think about all of the great free things there are to do every day in London. Whether it’s going to one of the hundreds of free galleries and museums, a free party or shop launch, or a new free class at a college or university, there’s so much to do and you don’t have to pay for any of it.

As you can see then, although rent prices in the capital can be quite expensive, life doesn’t have to cost more than it does anywhere else. In fact, with more free things to do, living in London can be cheaper and more fulfilling than in other places. You just need to ask yourself whether you can afford the rent price.

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