London is one of most expensive cities in the world according to the Economist Intelligence Unit, who rank London at number 15. It’s more expensive than New York, Vancouver and Moscow. The survey of 133 cities was based on prices of a variety of items, including car prices, groceries and meals out.
Some of the reasons why London is so expensive is because going to the cinema costs more here than it does in Sydney, Tokyo and New York for example and buying small things like coffee is also more expensive. Energy and petrol prices are also very high. The cost of a litre of petrol in London is £1.40, more than double the price of fuel in Los Angeles, where a litre can be purchased for just 62p. On top of it all last year another report said that the average London home would increase in price 40% to reach almost £650,000 by 2020.
This means that young Londoners could be excluded from home ownership. Lizzie Clifford, from the National Housing the federation in London, said: “We need to address the housing crisis now, before another generation is left locked out and reliant on taxpayers to keep the roof over their head from one month to the next.”
The rent could go up as well by a third because the house building is failing to keep up with the growth in population. If you are wondering what is the most expensive city in the world it is Singapore. This is because clothes are really expensive and so are a lot of other resources for everyday life.
Charley
Some of the reasons why London is so expensive is because going to the cinema costs more here than it does in Sydney, Tokyo and New York for example and buying small things like coffee is also more expensive. Energy and petrol prices are also very high. The cost of a litre of petrol in London is £1.40, more than double the price of fuel in Los Angeles, where a litre can be purchased for just 62p. On top of it all last year another report said that the average London home would increase in price 40% to reach almost £650,000 by 2020.
This means that young Londoners could be excluded from home ownership. Lizzie Clifford, from the National Housing the federation in London, said: “We need to address the housing crisis now, before another generation is left locked out and reliant on taxpayers to keep the roof over their head from one month to the next.”
The rent could go up as well by a third because the house building is failing to keep up with the growth in population. If you are wondering what is the most expensive city in the world it is Singapore. This is because clothes are really expensive and so are a lot of other resources for everyday life.
Charley