Numerous Britons who think about moving abroad for better work opportunities, studies, or retirement include Canada on their list of potential new homes. For many of these people, one of the most important things to consider is the cost of living in Canada vs UK.

The currencies in the UK and Canada

Sterling is the currency in the UK, although it is commonly known as the Pound. Sterling’s units of account are Pounds (£) and pennies/pence. One Pound is subdivided into 100 pennies. The official currency code is GBP. Banknotes are available in denominations of £5, £10, £20, and £50, and coins are available in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2.

The Canadian Dollar ($ or C$) is the currency in Canada, and the official currency code is CAD. The currency’s value has been floated since 1970. Banknotes are available in denominations of $5, $10, $20, $50, and $100, while coins are available in denominations of 5c, 10c, 25c, 50c, $1, and $2. £1 is worth $1.62 at 2.30pm on 19 February 2023.

Where to live in the UK and Canada

Whether you choose to stay in the UK or move to Canada, you will find that the cost of living is higher in major cities as opposed to smaller towns. If you are looking for more affordable options, it’s best not to look in national or provincial capitals if you are prepared to commute. If you do not have much of an option, you should find that properties in the outer suburbs are better priced. 

How much does accommodation cost in the UK vs Canada?

The cost of living in Canada vs UK shows that living costs are higher in Canada than in Britain. The cost of accommodation is one area in which this is clearly visible. Rental prices in the UK are 10.2% lower than in Canada. That said, the 2022 Mercer Cost of Living Survey listed London as the world’s 15th most expensive city. The first Canadian city on the list is Toronto, which is the 89th most expensive city in the world. The table below offers a good idea of the difference in accommodation costs between the two countries.

	United Kingdom	Canada	Difference
Monthly rent for 1 bedroom apartment (city centre)	1,464.74 C$ (902.56 £)	1,640.65 C$ (1,010.96 £)	-10.7%
Monthly rent for 1 bedroom apartment (outside centre)	1,123.11 C$ (692.05 £)	1,389.46 C$ (856.18 £)	-19.2%
Monthly rent for 3 bedroom apartment (city centre)	2,604.70 C$ (1,605.00 £)	2,622.96 C$ (1,616.25 £)	-0.7%
Monthly rent for 3 bedroom apartment (outside centre)	1,954.08 C$ (1,204.09 £)	2,286.17 C$ (1,408.72 £)	-14.5%
Price per square meter to buy apartment (city centre)	7,082.79 C$ (4,364.36 £)	8,857.70 C$ (5,458.05 £)	-20.0%
Price per square meter to buy apartment (outside centre)	5,253.70 C$ (3,237.29 £)	6,605.58 C$ (4,070.31 £)	-20.5%

 

How much does transport cost in the UK vs Canada?

The cost of living in Canada vs UK is different where transport costs are concerned. As can be seen in the table below, the prices of single-journey bus tickets, monthly transport tickets, petrol, and new vehicles are higher in the UK than in Canada.

 

	United Kingdom	Canada	Difference
Single bus ticket	4.06 C$ (2.50 £)	3.25 C$ (2.00 £)	+24.8%
Monthly public transport ticket	105.84 C$ (65.22 £)	100.00 C$ (61.62 £)	+5.8%
Petrol (1 litre)	2.53 C$ (1.56 £)	1.82 C$ (1.12 £)	+38.9%
Volkswagen Golf	35,703.11 C$ (22,000.00 £)	28,500.00 C$ (17,561.50 £)	+25.3%
Toyota Corolla	36,113.32 C$ (22,252.77 £)	25,889.96 C$ (15,953.21 £)	39.5%

 

What is the cost of living in the UK vs Canada?

United Kingdom consumer prices not including rent are 8.6% lower than in Canada. With rent included consumer prices in the UK are 9.1% lower than in Canada. The price of groceries is 26.9% lower in the UK compared to Canada. One of the few exceptions in this aspect of the cost of living in Canada vs UK are restaurant prices, which are 5% higher in the UK than in Canada. The table below shows average prices for various foods, groceries, and other purchases in the UK and Canada, as well as the difference between them. 

 

	United Kingdom	Canada	Difference
Milk (1 litre)	1.62 C$ (1.00 £)	2.70 C$ (1.66 £)	-39.9%
Bread (500g loaf)	1.66 C$ (1.03 £)	3.16 C$ (1.95 £)	-47.3 %
Eggs (12pk)	3.39 C$ (2.09 £)	4.11 C$ (2.53 £)	-17.4%
Water (1.5 litre bottle)	1.60 C$ (0.99 £)	2.28 C$ (1.41 £)	-29.7%
Chicken Breast (1kg)	9.25 C$ (5.70 £)	14.50 C$ (8.93 £)	-36.2%
Cappuccino (regular, in a restaurant)	4.76 C$ (2.93 £)	4.69 C$ (2.89 £)	+1.4%
Beer (500ml, in a restaurant or pub)	6.49 C$ (4.00 £)	7.00 C$ (4.31 £)	-7.3%
Cinema ticket	16.23 C$ (10.00 £)	15.00 C$ (9.24 £)	+8.2%
Gym membership (monthly)	50.57 C$ (31.16 £)	54.68 C$ (33.69 £)	-7.5%
Preschool/ Kindergarten (monthly)	1,685.99 C$ (1,038.90 £)	1,090.88 C$ (672.20 £)	+54.6%
Primary School (yearly)	22,097.68 C$ (13,616.43 £)	17,926.96 C$ (11,046.46 £)	+23.3%

 

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