People who live in the city already know that Leicester is a great place, but will your bank manager agree if you decide to make the move? The answer is undoubtedly yes, especially if you are looking to move from London and the South East.

According to Numbeo indices, if you were renting you would need around £4,100 more to enjoy the living standards which would cost just £2,700 in Leicester.

Consumer prices, including rental costs, are a massive 34.13 percent lower than they are in the capital, and rental costs alone are more than 60 percent less. On average, groceries will cost more than 12 percent less than in London and local purchasing power is almost 31 percent higher.

Even comparing living in Leicester to its neighbour Nottingham shows what a financially advantageous place it can be to live. Consumer prices are 1.02 percent less, meals out in restaurants cost around 7.4 percent less and groceries are around 17 percent cheaper. Local purchasing power is also 7.15 percent higher than it is Nottingham.

To put these financial benefits into perspective, just look at the savings that can be made every day of the week in Leicester compared with the capital, for example. A beer will cost you 12 percent less, a Coke will be more than 13 percent cheaper and a three-course meal for two at a mid-range restaurant will only be around a quarter of the price. You are likely to spend at least 12p less on a cappuccino in Leicester and pay almost a quarter less for a bottle of water.

You are likely to get a monthly travel pass for a massive 77 percent less than in London, and a taxi will be up to 63 percent cheaper. In terms of rental prices, you would have to pay £1,000 more every month for a one-bedroom apartment in the centre of London than you would for a similar property in the heart of Leicester. Outside of the centre, the same property would be more than £500 less than in the capital. These are huge savings when you consider that the average monthly disposable income after tax of a person in Leicester is just 13.89 percent or £210 less than in London.

These benefits do not just apply to people looking to let properties, either, as mortgage interest rates are also around 1.44 percent lower in Leicester. There is also the actual price of properties to consider. The average price per square metre of a city-centre apartment in Leicester is almost 77 percent lower than in London. A similar apartment outside the centre would cost you almost 66 percent less.

If you are considering a move, speak to Keywest Estate Agents Leicester, and see why we love our city! Whether you’re renting or buying in Leicester, call us on 0116 254 4555, and benefit from our local knowledge and expert property advice.