Is London a Nice Place to Live?

The historical centre of London, the City of London is truly a unique area, made famous with its booming financial reputation and known as the heart of London’s financial sector.

The city offers exciting residential potential, fantastic transport connections, and a cultural blend of history and modernity. But is London a good place to live?

If you’re thinking about moving to London and have your eyes set on the Great city area – we’re here to help.

In this article, we take you through the benefits, drawbacks, property value, safety, and everything else you need to know about living in the City of London. Let’s jump in.

What Are the Benefits and Drawbacks of Living in the City of London?

Just like any place in the world, the City of London offers both a number of benefits and, naturally, a few drawbacks. But to help you gain an insight into the lifestyle and culture of living in the City of London, let’s take a closer look at both sides, including:

The Benefits of Living in the City of London

Here we explore the key benefits of living in the City of London:

• Excellent Transport Links

The City district – much like the greater city of London as a whole – is well-served by a host of Underground stations, including Bank, Moorgate, and St. Paul’s. With access to the Thameslink and the Elizabeth Line, getting around the city and beyond is fast, efficient, and easy to use – making commutes into work a dream scenario.

• Iconic Landmarks

Mixing history with modernity, the City is home to a plethora of standout landmarks, including St. Paul’s Cathedral, the Tower of London, and the Museum of London. Simply, you’re surrounded by history and culture.

• Booming Financial Hub

As previously noted, the City of London is known as the financial heart of the UK. It is home to the top financial institutions and affluent luxuries, making it ideal for professionals working in banking, law, and related industries.

• Quiet After Hours

While London as a whole is always bustling during the day, the City district actually becomes much more peaceful in the evening. The district embodies a working clock, offering a much more relaxed environment for living compared to other busy parts of London where nightlife flourishes.

• Green Spaces

A common misconception about London is that it’s overrun with skyscrapers and modern invention. However, despite being in the centre of a major metropolitan area, the City district provides several peaceful green spaces like Finsbury Circus Gardens – perfect for a lunchtime break or a relaxing walk.

The Drawbacks of Living in the City of London

Now we’ve explored the key benefits, let’s look at some potential drawbacks of living in the City of London, including:

• High Property Prices

Due to its perks and prosperity, the city is unsurprisingly not the most affordable part of London, with property prices higher than in many other central locations. This can make it difficult for first-time buyers or those on a budget to find suitable accommodation.

• Limited Residential Space

Primarily a business district, the City of London offers fewer residential properties compared to other boroughs. This translates to a limited amount of housing options, competitive pricing, and especially difficult housing for larger homes or big family properties.

• Noise and Business During Working Hours

While it may be peaceful after hours, the city can often feel overcrowded during the workday, and truly embodies the importance of a working culture. This could make the environment feel more hectic for those who prefer a quieter and relaxed atmosphere during the day.

• Cost of Living

The cost of day-to-day living, including dining out and entertainment, is higher in the city than other areas. For the luxury of London, you will often have to pay premium pricing at restaurants, cafes, and shops in central locations.

• Limited Family-Focused Amenities

Once again, as primarily a business district, the city offers fewer schools, parks, and child-friendly facilities compared to other boroughs like Islington or Greenwich.

Things to Do in the City of London

Making up the capital of the United Kingdom, the City of London is steeped in history, with plenty of activities to excite your interests.

Whether you’re searching for architecture, history and heritage, city gardens, museums, or a complete shopping spree – the City of London truly has it all.

With iconic sites like the Tower of London, St. Paul’s Cathedral, and the Bank of England Museum, there are a plethora of activities to do in the City of London.

Our personal recommendations? Well, the Museum of London offers a fascinating look at the city’s past, and the Barbican Centre provides a wide range of cultural events. And to finish, enjoy a stroll along the Thames or visit one of the city’s tranquil green spaces.

London Shopping and Restaurants

One of the biggest attractions that pulls visitors from around the world is the access to London’s most exclusive shopping and dining experiences.

While the city itself has a more business-focused vibe, nearby areas like Leadenhall Market and Borough Market offer a variety of shops, from luxury brands to unique gifts. For those who are searching for an even more upscale shopping experience, one only needs to head to Bond Street or Covent Garden for a full shopping jubilee.

In addition to this, the city boasts a wide variety of restaurants, from Michelin-starred eateries like Restaurant Gordon Ramsay to cosy cafes and street food markets – a perfect mix to suit your every need whenever and however you’re feeling.

University and Education Opportunities in London

London is home to a number of prestigious educational institutions, including the famous University College London (UCL) and City St George’s The University of London, making it a highly attractive destination for students and academics alike.

While the City University of London is located just outside the financial district, its associated Bayes Business School can be found within the main city district. Many students choose to live in both the city and surrounding areas in order to benefit from the central location, excellent transport links, and proximity to work and entertainment.

How Expensive Is It to Live in the City of London?

London is renowned for its high costs and living expenses, with the City of London being one of the more expensive places to live in the capital.

In short: the living costs reflect its status, and as a business and financial hub, prices can range due to your particular lifestyle.

While we will dive into the specifics of property price shortly, here’s a breakdown of some of the key costs you can expect in the City of London:

• Property Prices

According to Rightmove’s 2025 data, the average property price in the City of London is approximately £893,416, with flats averaging £871,227 and terraced properties reaching the heights of £1.77 million.

• Cost of Living

In regards to everyday expenses, including groceries, dining out, and entertainment, this will be relatively more expensive than other areas around the UK but again will depend on your lifestyle. For casual luxury outings, a meal at a mid-range restaurant may cost around £40-£60, and a monthly transport pass can range from £130 to £200, depending on the zones you travel through.

While the City of London can be more affordable than areas like Westminster, it should be noted that it is not a budget-friendly location, particularly for those looking for larger homes or more spacious accommodations.

Property Value in the City of London

Aligned with the general cost of living, the City of London’s property market reflects its status as a historic and financial hub and sought after living area.

Following research from both Rightmove and the Office for National Statistics (ONS), the average property price in the City of London over the past year stood at £893,416. Most sales were flats, averaging £871,227, while terraced properties reached around £1.77 million.

What is most notable, however, is that property prices have dropped by 20% compared to the previous year and stand as a mid-point between the surrounding areas.

For example, when comparing the city to nearby districts such as Westminster, property prices in Westminster are currently averaging at a price of £921,000 – that is roughly £60,000 more than property in the City of London.

Whereas, cheaper areas such as Greenwich do provide a more affordable option for those wishing to bridge the best of both worlds with location and affordability. According to the ONS, the average house price In Greenwich is £470,000 – a significant saving of around £400,000.

There are of course multiple boroughs of London, all with their unique charm, benefits, and drawbacks. However, the City of London presents a unique opportunity for those who are seeking a close connection to business and financial culture, history, and a comparably middle-ground when it comes to affordability.

Is the City of London a Safe Place to Live?

It goes without saying –  safety is an important consideration when choosing a place to live.

Thankfully, the City of London is widely regarded as a safe area and even benefits from its own police force: The City of London Police.

As a financial district, the area is well-monitored with surveillance cameras, especially around key business and tourist areas.

Get In Touch with a Mortgage Broker

If you’re considering living in the City of London, and are looking to secure the best mortgage deal possible – then we’re here to help you.

At Boon Brokers, our dedicated experts can help you navigate your mortgage journey. Whether you’re a first-time buyer, investor, or relocating professional, our experts can provide you with clear and tailored support, providing you with access to the most competitive mortgage deals – fee-free.

Contact Boon Brokers today and learn more about your mortgage options in order to take the first step towards living in one of London’s most iconic districts.