London - Cost Of Living

Adam2007

Hi,I'm trying to build up a general idea of what it would cost me to move to London in the near future.I am looking to rent a flat, one bedroom is fine but I am on a budget so I'm looking for the cheaper end of the market. I also would like to know an estimate for what electricity, gas, water, council tax etc would cost for this sort of property?Thanks for your help.

Feanor

I think a huge amount of that depends on what area you are looking at! Where will you be working? Do you want to be close to where you work, or at least within commuting distance? Travel expenses are a big thing to include when moving to London. As an example, i live in zone 6 and travel to zone 1 which costs me £165 a month!

let us know which areas you are looking at and we will be able to help you a bit more..

suffolkb

Have a look at rightmove - change to rentals. Or try https://www.craigslist.com . A quick look at the latter seems to indicate £200 or so for a studio, £275+ for 1 bed. Much more if you want to live anywhere central, but you might save money on fares. Those figs are per week of course.

Adam2007

Hi,Probably in central London for work, so somewhere that isn't too far away (although is it cheaper to live nearer and have less travel costs, or live further and have higher travel costs?!).Thanks for your help.

PasturesNew

There was a report out yesterday for students that looked at the cost of living in University towns. (The Royal Bank of Scotland, Student Living Index)

London came out 4th in affordability.

While rents are high, there are more opportunities to do lots of well paid part-time work in London that do not exist anywhere else - with part-time jobs paying a LOT more than anywhere else (even if other places did have them).

You don't say what your income/expenditure expectations are, but I'd suggest you don't rent a flat. Look for a houseshare at first. Share the bills until you have yourself established.

On a 1-bed flat the running costs would be pretty much the same no matter where you are:
electricity/gas - £25-30
water - £15-20
council tax - £80
contents insurance - £10-12
TV license - £12
phone/broadband/internet - £20-50

Which is £160-200 per month

Adam2007

Thanks for those costs, they are most useful. The other problem I may encounter is that I have not rented before, so therefore wouldn't have any references. Is this likely to be a problem?Thanks again.

lynzpower

round my way, we have one bed flats going for about 150 per week, so I think the average takes into account those non- moneysaving options!!

Melissa177

The cheapest way is to flatshare. A friend of mine rents a room in a large shared house for 600 a month (all in - includes all bills and council tax).

I think this is a bit overpriced to be honest for the quality of accommodation she has (it's poor), but it's cheaper than renting a one bed place.

roses

PasturesNew wrote: »

There was a report out yesterday for students that looked at the cost of living in University towns. (The Royal Bank of Scotland, Student Living Index)

London came out 4th in affordability.

Here's the report:

http://www.rbs.co.uk/Personal_Finances/shared_content/Students_&_Youth/Student_Royalties/downloads/RBS_Student_Living_Index.pdf

It makes interesting reading. The rank is for affordability, so London is quite high up on the affordability list with Nottingham apparently the most expensive place to live!

lynzpower

Melissa177 wrote: »

The cheapest way is to flatshare. A friend of mine rents a room in a large shared house for 600 a month (all in - includes all bills and council tax).

I think this is a bit overpriced to be honest for the quality of accommodation she has (it's poor), but it's cheaper than renting a one bed place.

I know someone on 350 a month double room in clapham south! ALl incluisive.

isnt meant to be the nicest place going, well its not going to be for that is it!

Melissa177

I am fairly sure my friend is being ripped off for 600 a month - she is in Battersea, around the corner from me.

She also has the luxury of a train line running right in front of her bedroom window..