Moving to the UK: Is London Worth the Higher Cost of Living?

If you’re planning a move to the UK then first of all, you’ve made a great decision. The United Kingdom is full of opportunities, has a strong education system and is home to some of the world’s best cities. But choosing where to live in the UK can be a difficult decision. The varied landscape offers something for everyone from tranquil villages to the hustle and bustle of major cities. And when it comes to UK major cities, there’s none bigger than London. But is London worth it? That’s the question we’re tackling in this article. With higher living costs compared to the rest of the UK, should newcomers set up base in London or elsewhere?

Housing

Whether you’ve secured British citizenship or you’re moving with a temporary visa, the first thing you’ll need to sort is somewhere to live. This is where London’s higher cost of living is really on show. Average property prices in London are far higher than average prices in the north. For those who are living on tight budgets, the housing market in the north of the country is likely to be far more appealing. For the high earners, London housing may be within budget. But be aware that houses are hard to come by in central London; you’ll likely need to base yourself to the outskirts of the city centre unless you’re looking for a flat or apartment.

Opportunities

One of London’s key selling points is the vast opportunities that it offers in terms of business, networking and jobs. Other major cities like Manchester and Birmingham do provide strong business opportunities in their own right, but the truth is that nowhere in the UK compares to London in this area. If you’re an entrepreneur bringing a business to the UK, then London is undoubtedly the leading city to set up. Whether you’ll be running a restaurant or an immigration lawyers in London, business owners benefit from higher footfall, a thriving job market and fantastic networking opportunities. The downside, as you’ve probably gathered, is that you can expect overheads to be more expensive for the privilege of operating in London.

This does mean that those working in London benefit from higher average salaries. But, as already pointed out, this is balanced out by the higher property prices. You’ll need to analyse your own situation before deciding whether your higher salary is worth it or not.

Lifestyle

The final thing to consider is your lifestyle because there’s far more to the UK than simply working. As you’d expect from a capital city, London trumps every other major city in terms of attractions and entertainment. Particularly in central London, you’ll be surrounded by iconic landmarks, buzzing nightlife and a great selection of restaurants, cafes and shops. But the London lifestyle isn’t for everyone, and if you’re looking for somewhere quieter surrounded by scenic countryside, then London probably isn’t worth the cost. Fortunately, the UK boasts a range of rural options for those searching for a more peaceful place to live.