Cost Of Living In London

How much is the cost of living in London? Really... 

It’s a well known fact that the cost of living in London makes it an expensive place to live, work and explore. But don’t worry with our advice it’s totally manageable and you’ll be able to enjoy everything the city has to offer. The key is to plan in advance, and listen to all the advice Londoners have to give you before making the move. We will address all types of costs in London for you to get a good idea on the average cost of living in London. We’ll even give you a few tips on how to save once you’ve made the move. 

Cost of living in London for students?

Outside of your University study costs, the major cost of living for students will be accommodation. Most students choose between private halls, university provided accommodation and private housing with different costs associated with this. Especially in your first year, choosing accommodation that allows you to make friends will likely be your top priority. 

According to King’s College London, a rough estimate of the funds needed to live to a reasonable standard in London is currently estimated at approximately £1,250 per month for students depending on your lifestyle. This price can increase with additional purchases needed to live such as utensils, appliances, deposits and all the standard things you need to move in. 

What is the cost of groceries and food? 

The cost of groceries in London is fairly reasonable, except cheese! Choosing where to shop will have big implications on the price of your shop. Generally M&S and Waitrose are higher quality with higher costs, then Lidl and Aldi are on the cheaper side. Shopping around can reduce the cost of living in London per month drastically. The average cost per person in a weekly food shop is £38.50. Some basic examples of prices you can expect to see in shops for food are below: 
 

Milk (1L) £0.94

Bread (500g) £1.01

Rice (1kg) £1.46

Eggs (12) £2.17

Local Cheese £6.98

Chicken Fillets (1kg) £6.10

Bottle of wine £8.00

Beer (0.5L) £1,77

Apples (1kg) £2.02

Tomato (1kg) £2.58

Cost of entertainment in London? 

With so much happening in London, this is a core area where you need to be clever where you spend your money. There is always something going on and it's easy to spend every night of the week doing something, but your bank won’t thank you for this. We have pulled together some generic costs of entertainment in London below: 

Club entry £10

A pint of beer £5

Cocktail £10

Cinema £13

Art Galleries £8

Casual Meal Out £20

Mid range Meal Out £40

Coffee £3.20

Music Gig £25

Costs to sports activities in London? 

If you love to keep fit, there's plenty of opportunities to do this in London. London has a huge amount of specialised sports groups, gyms are always just around the corner and always a fitness class going on! Below we have prepared some of the standard costs for different sport activities in London. We include yoga, swimming, gym memberships, tennis, fitness classes and dance. See our membership options that include sports and fitness. 

Yoga Class (1 hour) £8

Swimming Session (1 hour) £6.50

Gym membership (1 month) £55

Tennis court (1 hour) £10

HIIT Fitness Class (45 min) £10

Dance Class (1 hour) £20

How much is council tax, bills and utilities In London?

Once you choose where you want to live, quite often you get hit with hidden costs that can add up. Council tax is on the rise in London and can vary depending on the property value and neighborhood of London you live in. Council tax ranges annually from £1,000 to around £3,000. Before moving into a property make sure you ask the landlord how much the average council tax payments will be. If you are a student, you can apply for discounts on your council tax from the government. The average gas and electric bill people pay in the UK is also on the rise. The average comes to around £1,138 a year, roughly £3 a day. On top of this you have water bills which on average works out to be £415 a year. Lastly an essential is wifi which works out to be around £30pm. If you want to rent all inclusive, we have all-inclusive living offers. 

How much is transportation? How much is a London travel card? 

Travel in London is not a huge amount but can definitely add up if you don’t do it the right way. You can work out how much each journey would cost you using CityMapper. On average people in London spend £150+ a month on travel which is roughly the costs of an oyster card between zones 1-2. Costs increase if you want open travel between additional zones. Average cost one way is around £2.80. By getting a travel card you can save a lot of money on your annual travel costs. We would recommend working out the frequency of travel and routes you take on a regular basis and compare this to the costs of an Oyster card. If you are traveling to work everyday, it’s very likely you will end up saving money by doing a monthly travel card. Taxis can be quite expensive in London to try to get the tube as much as possible. It’s best to download multiple taxi apps and compare the prices. 

Top 5 tips to reduce the cost of Living in London

Go to free art exhibitions

There are always art exhibitions in London which can easily fill your weekends up! These are fun sociable things to do with your friends with minimum costs. There are an estimated 1,500 permanent exhibition spaces in London, most of which are free. 

Budget

A big part of getting the most from London is planning how much you have to spend. Allocate your living costs each money and have separate costs for spending money. Even break this down weekly to make sure you are on top of your money. Cook as much as you can in the week at home, then go out on the weekends. If you are ordering or going out for meals frequently this can quickly add up. 

Explore the green spaces 

London has a huge amount of green spaces. During the summer months spend your weekends with friends in your local park or explore the different parks across London. Pick up some drink and snacks from a supermarket to keep the costs as low as possible. 

Get a bike or walk 

Getting a bike in London is vital! You will see more of London via bike and quite often your journeys will be much shorter and cost you nothing. Not to mention this is great for the environment! You can pick up second hand bikes easily to keep costs low. 

Save on daily essentials and activities

There are always ways to save on everyday costs. Research is key for this. If you are going to a cinema, there are always cheaper options across London such as Peckhamplex with £5 tickets. There are always deals on activities or passes you can get. If you are a student, with your student card you can often get discounts on all major shops and activities in London. 

Live in London, hassle free

At Gravity, you can rent with all bills included so you don’t have to worry about setting up all the separate utility contacts and the hidden fees, you pay everything in one all inclusive bill. By becoming a member at Gravity you will get discounts on everyday essentials and things to do in London, we have over 700 partnerships for you to keep costs lower. Our partnerships range from local cafes, bars, gyms, restaurants and shops as well as major national retailers. When you join a community like Gravity, you will also be able to get local insight and the best places to go without having to spend large amounts of money. All of our properties come fully furnished and ready to move in, all you need is a suitcase! We can save you money on having to purchase your own furniture and furnishings. Gravity design spaces that will instantly make you feel at home without having to buy anything. We even have weekly fitness, social and wellbeing events all free of charge so you can meet new people without breaking the bank! Having in-house fitness, wellness and social events will bring your cost of living in London down drastically. Check out our co-living properties across London.