Renting in London

If you wish to live in London, and rent a property in this area, you should be prepared for high rental costs. If you are moving to London with your job and your company has agreed to pay your rent, you will not need to worry about the cost of accommodation but you will need to bear in mind the high cost of living. For example, a travel card for central London using the London Underground will cost approximately £24 a week, or £93 a month (currently €30 to €120). If you do wish to rent a property in London and pay for it yourself, you will have to budget for the high cost of accommodation in the city.

The average cost of a one bedroom flat in London is £2,200 a month (see Regional Variation), but this takes into account a lot of very expensive properties. It is possible to find a one bedroom flat for £600 a month (currently €760), or a bedroom in a shared flat from £280 a month (currently €355)*. There are many cost-cutting tips for surviving in an expensive city; sharing the cost of groceries and utility bills with flatmates, buying travel cards rather than daily tickets, and joining a local library where you can borrow books and even the latest cds and dvds rather than buy them. Nevertheless, if you are concerned that you will not be able to support yourself financially in London, you may wish to consider renting a property in another area of the UK. Not only are property prices cheaper on average, but there are many other vibrant cities offering great nightlife, cutting-edge cultural events and beautiful tourist attractions!

For details of London living, see articles London Regions and London Transport.

* Based on data from workgateways.com