Canada is the second largest country in the world and continues to grow in popularity as a haven for British expats looking for a new life overseas. Stunning scenery surrounds modern and thriving cities in Canada, populated by famously friendly citizens. These are just some of the benefits on offer for expats, as well as the world renowned free healthcare system.

Canada is considered to be on a similar par to the UK when it comes to the cost of living, with costs naturally varying throughout the country, and between the city and countryside. In major cities, the cost of accommodation and transport is typically cheaper than in London, with all of Canada’s largest cities ranking outside the top 100 in Mercer’s 2019 Cost of Living Survey. 

The currency used in Canada is the Canadian dollar, with 1 British pound equalling 1.71 Canadian dollars (as of 8^th January 2020). By converting prices from dollars to pounds, you’ll be able to gain a clearer understanding of the difference in cost between Canadian and UK living. You can monitor the GBP to CAD exchange rate from our Currency Zone.

(All figures taken from Numbeo.com and exchange rates calculated on 8^th January 2020 at 09.10am).

 

How much does accommodation cost in Canada?

Rental costs and property prices vary throughout Canada depending on the city in which you choose to live, however all are generally seen as more affordable than in London. The capital Ottawa provides one of the most inexpensive options for city living in the country, while Vancouver and Toronto offer a larger profile at a premium price. Alternatively, the French-speaking city of Montreal is seen to be one of the most affordable and popular choices for expats.

 

Vancouver

Monthly rent for 1 bedroom apartment (city centre)	£1,214 (2,077 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£967.49 (1,655 C$)
Monthly rent for 3 bedroom apartment (city centre)	£2,200 (3,765 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£1,583 (2,708 C$)
Price per square meter to buy apartment (city centre)	£7,353 (12,582 C$)
Price per square meter to buy apartment (outside centre)	£5,452 (9,329 C$)

 

Toronto

Monthly rent for 1 bedroom apartment (city centre)	£1,248 (2,136 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£994.67 (1,702 C$)
Monthly rent for 3 bedroom apartment (city centre)	£2,034 (3,480 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£1,518 (2,597 C$)
Price per square meter to buy apartment (city centre)	£6,278 (10,742 C$)
Price per square meter to buy apartment (outside centre)	£4,848 (8,296 C$)

 

Montreal

Monthly rent for 1 bedroom apartment (city centre)	£736.72 (1,260 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£468.24 (801.06 C$)
Monthly rent for 3 bedroom apartment (city centre)	£1,242 (2,126 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£782.64 (1,339 C$)
Price per square meter to buy apartment (city centre)	£3,250 (5,559 C$)
Price per square meter to buy apartment (outside centre)	£1,948 (3,333 C$)

 

Ottawa

Monthly rent for 1 bedroom apartment (city centre)	£813.67 (1,392 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£630.22 (1,078 C$)
Monthly rent for 3 bedroom apartment (city centre)	£1,398 (2,391 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£1,069 (1,829 C$)
Price per square meter to buy apartment (city centre)	£2,874 (4,916 C$)
Price per square meter to buy apartment (outside centre)	£1,710 (2,924 C$)

 

Cost of transport in Canada

Public transport within major cities in Canada is extensive and highly reliable, with rail, bus and subway options available to residents. These are all considered affordable ways to travel, while weekly and monthly passes are often available for commuters.

If you plan on exploring the vast country by car, you’ll be relieved to know the cost of petrol is almost half that of UK petrol. In addition, buying a car is considered a highly affordable option due to its necessity for cross-country travel.

Single bus ticket	£1.81 (3.10 C$)
Monthly public transport ticket	£55.54 (95.00 C$)
Petrol (1 litre)	£0.73 (1.25 C$)
Volkswagen Golf	£14,615 (25,000 C$)
Toyota Corolla	£13,813 (23,628 C$)

 

What is the cost of living in Canada?

The cost of living in Canada, in terms of groceries, amenities and activities, is considered similar in price to the UK. While of course this depends on the city in which you live, and the lifestyle you lead, below are a few examples of the average prices you can expect to find in Canada for several miscellaneous items and services.

Milk (1 litre)	£1.37 (2.34 C$)
Bread (500g loaf)	£1.66 (2.84 C$)
Eggs (12pk)	£1.94 (3.31 C$)
Water (1.5 litre bottle)	£1.30 (2.23 C$)
Chicken Breast (1kg)	£7.62 (13.03 C$)
Cappuccino (regular, in a restaurant)	£2.46 (4.21 C$)
Beer (500ml, in a restaurant/pub)	£3.51 (6.00 C$)
Cinema ticket	£7.89 (13.50 C$)
Gym membership (monthly)	£28.22 (48.27 C$)
Preschool/Kindergarten (monthly)	£557.61 (953.57 C$)
Primary School (yearly)	£8,108 (13,866 C$)

 

If you plan on moving to Canada, you will want to make sure your budget stretches as far as it can. That’s why we offer great exchange rates and low transfer fees on all your international payments. Whether you’re sending money to Canada on a one-off basis or making regular payments abroad, you can get more for your money with a moneycorp payments account.