City living tends to come with a big price tag. How big depends on the city. Along with hefty rents and house prices, living in a city usually means paying more for things like eating out, gym membership and other services. So, which are the most expensive cities to live in the UK?
No prizes for guessing that London would feature on this list. The capital tops the charts for the most expensive place to rent. A survey last year reported that the average monthly rent in the capital was £836.05.
And if you’re buying? Again, London takes the gold, with the average house price coming in at £472,230.
London’s denizens are among the highest paid in Britain, with an average weekly wage of £727. But with an estimated £7090 a month needed to live comfortably, there aren’t many Londoners who will actually be able to achieve that.
This university city frequently tops the list of the UK’s least affordable places to live. The average house price is £406,491, around twelve times the salary of an average Oxford resident. Its history, architecture and transport links to London make it a desirable place to live for many, so it appears people are willing to put up with the price.
A hefty price tag is attached to living in this beautiful city. An average monthly rent sets tenants back around £1,757. Edinburgh has always been seen as desirable, but average house prices have risen by 57.6% in seven years to £342,653. It’s estimated that you need £5,040 a month to live comfortably.
Commuters and former London-dwellers flock to Brighton for a piece of heaven in this hip city by the sea. And they pay through the nose for the privilege. The average house price is around £374,662. And renters fare no better, as the average rental is just under £624.00 a month. It’s estimated that to live a comfortable life in Brighton, you need to be earning £4,640 a month.
Britain may be an island, but it’s home a wide diversity of areas. If you live in one of these cities, you’ll know that you have to carefully manage your personal finances to live there. There are, however, still cities in the UK that offer value for money and a great standard of living. Maybe it’s time to consider a move?