Living in London, England $$$?

Question

What is the average cost of a mid-level flat in London per month? I have an opportunity to pursue a job over-seas in London at 22,000-euros/year + bonuses. Where would that fall in terms of Lifestyle and Standard of Living in England?

I misunderstood my conversation, its actually up to 22 pounds sterling per year plus bonuses, not euros. Any other info in light of this new detail, would be appreciated!!

Answer 1

It's unusual to be paid in Euros for a London job, as the UK uses pounds sterling. Your wage is equivalent to just under £15,000 and this is below the national average wage in the UK. London is a large and diverse place, with rentals varying widely. The cheapest places would be in some parts of South/SE London (Brixton/Lewisham etc). The more expensive places are central and North West London. A good place to look for flats is www.gumtee.com as people can advertise there free and won't be paying a commission to Estate Agents. Even so, a cheap 1 bed flat will cost from £150pw (or £675 per month). Assuming no bonus, your monthly pay after paying tax and NI will be under £1,000 per month, so this would only leave under £300 per month for bills (council tax, TV licence, gas, food, electricity, travel to work etc). If you live alone renting a 1 bed flat this is an estimate of how much things would cost:
Council tax: £80-£100 per month (depending on area)
TV £13 per month
Heating/electricity/water: £40pm
Food: £160
This would be more than your salary assuming no bonus. The only way you might be able afford to live in London is to rent a room in a house with 3 other people. You could find a good room in a shared house for around £80 per week and the bills would be shared between 4 people. You would really need at least £30,000 to be able to rent a nice flat have a good lifestyle in London.

Answer 2

On this level of income, I don't think you would be able to afford to rent a flat on your own.

This website gives a good idea of what central London rental property costs:

http://www.foxtons.co.uk/properties/uk-london-rental-property-290/properties-to-rent-in-london.html

Earning 15000 UK Pounds + Bonuses isn't likely to be a comfortable existence in the South East. A basic studio flat (everything in one room) begins at just under 700 UK Pounds a month. After you've paid income tax, this is going to take over half of your income (and then you have to pay for council tax, food, transportation etc etc).

People do take low paid jobs for work or life experience, but you will be subsidizing your time in London with your savings.

Answer 3

Based on what lots of my friends pay you should about 1,000 pounds for rent for a very small place (including council tax), if you want to pay less you will have to share a room, by the way all places are very small and not very comfortable, it depends of where you live, if you live in the U.S. or Canada I think the best is to stay where you are...

Besides from the rent, I may say that everything is twice of whatever in the U.S. and Canada so you have to earn a lot of money to really have a good lifestyle

Answer 4

if you want to live in central London you need to have £30000/year and that is average only. unless if you go to countryside in which flats or housing in these areas are lot cheaper than living in central London