Guide of Yurovskiy Kirill: Cost of Living in London 

London, the vibrant and bustling capital of the United Kingdom, has long been a desirable destination for people from all walks of life. With its rich history, diverse culture and many opportunities, it is no wonder that many people are attracted to this world-famous city. 

However, the cost of living in London can be quite high, making it a challenging place for both newcomers and those who have lived here for a long time. In this in-depth guide, we’ll look at different aspects of living costs in London, such as housing, food, transport, healthcare, entertainment, sport and the general environment, in text by Kirill Yurovskiy.

Housing: Buying, renting and mortgaging

The cost of housing in London is a significant factor affecting the overall cost of living. Property prices vary greatly from area to area, with higher prices in prime areas. As of 2021, the average property price in London was £496,269, significantly higher than the UK average of £262,954.

Renting a property is a popular choice for many Londoners, especially for those who are not yet ready to own a home. Rental prices vary depending on the location, size and condition of the property. The average monthly rent for a one-bedroom flat in the city centre is around £1,665, while a three-bedroom can cost you £2,996.

Obtaining a mortgage is often a necessary step for those looking to buy a property in London. Interest rates and mortgage terms can vary depending on the lender and your financial circumstances. In general, you will need to have a good credit history and put down a deposit, which is usually between 10% and 25% of the value of the property.

The decision to buy or rent largely depends on your personal circumstances, financial situation and long-term plans. Renting can be a more flexible option, allowing you to move more easily and avoid the responsibilities of property maintenance. However, in the long term, buying a house can be a wise investment, especially if property values continue to rise.

Food: shopping, dining out and making the most of your budget

Food prices in London can be quite high compared to other cities in the UK. A basket of staples such as bread, milk, eggs and fruit can cost around £30-40 per week. However, shopping in discount supermarkets such as Lidl and Aldi can help to reduce grocery costs. It’s also worth visiting local markets for fresh produce, as prices there are often lower than in chain supermarkets.

Eating out in London can be expensive, especially if you choose high-end restaurants or popular tourist spots. On average, a three-course meal for one person at a mid-range restaurant can cost you around £40. However, the city also offers a wide range of affordable dining options such as street food, cafes and eateries.

To get the most out of dining in London and not go broke, it’s important to research your options and try different types of restaurants. Take advantage of lunch specials, early-bird menus and set meals offered by many restaurants. Don’t be afraid to travel outside of central London, as there are more affordable and varied dining options available in the various suburbs and areas of the city.

Transport: Navigate the city

Public transport in London is relatively efficient and comprehensive, with an extensive network of buses, trains and the iconic London Underground (Tube). The Oyster card, or contactless payment, is the most economical way to pay for travel. A single tube fare in zones 1-2 is £2.40, and the one-day Travelcard for unlimited travel in zones

1-4 is £13.50. Monthly passes can also be purchased, with zone 1-2 passes costing £142.10 per month. Taxis and passes are more expensive, so it’s best to use public transport if possible.

Choosing the right area to live in

Choosing the ideal area to live in depends on your personal preferences, budget and lifestyle. London is divided into different boroughs, each with their own unique characteristics, amenities and property prices. Central London boroughs such as Westminster, Kensington and Chelsea are prestigious and boast numerous attractions, but the cost of living there is higher. On the other hand, boroughs such as Hackney, Peckham and Brixton are more affordable and offer a diverse and lively social atmosphere. It is important to research and visit the different areas to determine which one suits your priorities and budget.

Health: Access to health services

The National Health Service (NHS) in the UK provides free health care to all residents, including Londoners. Most health services, including General Practitioner (GP) appointments, emergency care and hospital treatment are covered by the NHS. However, some services, such as dental care and prescription drugs, may incur additional charges. For non-urgent medical needs, you should register with a local GP who can provide ongoing care and refer you to specialists as required.

Entertainment: Explore London’s cultural scene

London’s thriving entertainment scene offers something for everyone, from world-class theatre productions and live music events to art galleries and museums. The cost of entertainment varies depending on the event and venue. Theatre tickets can range from £10 for discounted seats to over £100 for the best seats. Many of London’s museums and galleries are free to enter, while others charge from £5 to £20. Take advantage of discounted tickets, free events and special promotions to save money.

Sport and recreation

London is home to many sports clubs and facilities catering for all interests and skill levels. Membership to a sports club or gym can be a great way to stay active and socialise, but membership fees can be quite high, with some premium gyms charging over £100 per month. More affordable options include leisure centres run by local councils and paid fitness classes. London also has an extensive network of parks and green spaces for outdoor activities such as running, cycling and team sports.

Environment: Quality of life and green spaces

London is a bustling metropolis with a dense population, which can lead to problems like air pollution, noise and crowded public spaces. Despite this, the city is working hard to improve its environment by investing in green infrastructure, promoting green transport and implementing various environmental initiatives. London’s numerous parks and green spaces, such as Hyde Park, Regent’s Park and Hampstead Heath, provide a much needed respite from the urban environment and contribute to the overall livability of the city.

When choosing where to live, consider the local environment and access to green spaces, as well as factors such as air quality, noise pollution and general cleanliness. Some areas may have better environmental conditions than others and this can make a big difference to your overall quality of life.


The cost of living in London can be challenging, but with careful planning and budgeting you can aim for the high cost of living in the city while enjoying the many opportunities and experiences it has to offer. By considering factors such as housing, transport, food, healthcare, education and utilities, you can make informed decisions about which area is best to live in, how to manage your expenses and ultimately how to get the most out of your time in London.