Friendly people, a culture influenced by Britain and France, historic cities, rugged mountains, dense forests, and even alpine landscapes are some of the reasons an increasing number of British expats are moving to Canada. As tempting as making this move can be, the cost of living in Canada generally is higher than in the UK, so it’s important to carefully consider whether it would be worth your while. 

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The Currency in Canada 

Canada’s currency is the Canadian Dollar ($ or C$), and its official currency code is CAD, which is how you will see it represented at Moneycorp. The value of the currency has been floated since 1970. One Canadian Dollar is subdivided into 100 cents. Banknotes are available in $5, $10, $20, $50, and $100 denominations, and coins are available in 5c, 10c, 25c, 50c, $1, and $2 denominations. £1 is worth C$1.63 at 12.33pm on 7 March 2023. 

Where to Live in Canada 

The cost of living in Canada is slightly more affordable in smaller towns than in large cities, even if those towns don’t offer quite the same lifestyle or opportunities as you’ll find in cities. That said, the majority of British expats who moved to Canada have chosen to live in larger towns and cities such as Hamilton (Ontario), Vancouver (British Columbia), London (Ontario), Edmonton (Alberta), Surrey (British Columbia), and Ottawa (Ontario).  

How Much Does Accommodation Cost in Canada? 

On the whole, the cost of living in Canada vs UK is higher, and this is especially noticeable in the cost of accommodation. Rental prices in Canada can be as much as 10.2% higher than in the UK. According to the 2022 Mercer Cost of Living Survey, Toronto is the 89th most expensive city in the world, and Vancouver is the world’s 108th most expensive city. Montreal is the 125th most expensive city, Ottawa the 132nd most expensive city, and Calgary the 141st most expensive city. By comparison, the UK capital is the 15th most expensive city in the world. The table below shows average rental and property prices in a few Canadian cities.

All figures were taken from Numbeo, and exchange rates were calculated at 12.33pm on 7 March 2023. 

Vancouver

Monthly rent for 1 bedroom apartment (city centre)	£1,521.38 (2,491.02 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£1,302.05 (2,131.91 C$)
Monthly rent for 3 bedroom apartment (city centre)	£2,759.89 (4,518.89 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£2,029.64 (3,323.22 C$)
Price per square meter to buy apartment (city centre)	£8,205.96 (13,435.99 C$)
Price per square meter to buy apartment (outside centre)	£6,404.32 (10,486.09 C$)

 

Toronto

Monthly rent for 1 bedroom apartment (city centre)	£1,484.61 (2,430.82 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£1,255.35 (2,055.45 C$)
Monthly rent for 3 bedroom apartment (city centre)	£2,383.26 (3,902.22 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£1,941.69 (3,179.22 C$)
Price per square meter to buy apartment (city centre)	£7,862.45 (12,873.55 C$)
Price per square meter to buy apartment (outside centre)	£6,178.70 (10,116.67 C$)

 

Montreal

Monthly rent for 1 bedroom apartment (city centre)	£875.76 (1,433.93 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£673.22 (1,102.29 C$)
Monthly rent for 3 bedroom apartment (city centre)	£1,545.62 (2,530.72 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£1,141.24 (1,868.60 C$)
Price per square meter to buy apartment (city centre)	£5,115.61 (8,376.03 C$)
Price per square meter to buy apartment (outside centre)	£2,899.96 (4,748.24 C$)

 

Ottawa

Monthly rent for 1 bedroom apartment (city centre)	£1,079.59 (1,767.67 C$)
Monthly rent for 1 bedroom apartment (outside centre)	£893.34 (1,462.71 C$)
Monthly rent for 3 bedroom apartment (city centre)	£1,765.37 (2,890.53 C$)
Monthly rent for 3 bedroom apartment (outside centre)	£1,391.04 (2,277.62 C$)
Price per square meter to buy apartment (city centre)	£4,844.27 (7,931.74 C$)
Price per square meter to buy apartment (outside centre)	£4,014.97 (6,573.90 C$)

 

How much does transport cost in Canada? 

Transport is one area in which the cost of living in Canada is more attractive than the UK. Whether you consider public transport or the cost of petrol and private vehicles, getting from A to B in Canada is undeniably cheaper. The table below provides a basic idea of the cost of transport. 

Single bus ticket	£1.98 (3.25 C$)
Monthly public transport ticket	£61.07 (100.00 C$)
Petrol (1 litre)	£1.10 (1.80 C$)
Volkswagen Golf	£17,551.57 (28,738 C$)
Toyota Corolla	£15,890.70 (26,018.57 C$)

 

The Cost of Living in Canada for International Students 

While Canadian post-secondary tuition fees are generally lower than what you would pay in the UK, the U.S., and Australia, the cost of living in Canada for international students still can be relatively high. Average tuition costs for international students range between £12294.31 and £18441.47 per year. You should also budget approximately £614.72 per year for books and additional study supplies. 

When it comes to student accommodation, the three most common options include homestays, dormitories, and renting a flat or house with other students. Homestays cost between £245.89 and £491.77 per month, and dormitories cost between £1844.15 and £4610.37 per academic year. You can rent an apartment or a room in a house for between £245.89 and £922.07 per month. You should budget between £368.83 and £491.77 per month for groceries and other daily expenses such as transport and leisure.  

 

What is the Cost of Living in Canada Compared to the UK? 

As mentioned, the cost of living in Canada vs the UK is noticeably higher. While Canada does offer cheaper education for children as well as some more affordable restaurant and leisure prices, the cost of food, groceries, and various services is cheaper in the UK. 

Milk (1 litre)	£1.66 (2.71 C$)
Bread (500g loaf)	£1.93 (3.16 C$)
Eggs (12pk)	£2.52 (4.12 C$)
Water (1.5 litre bottle)	£1.39 (2.28 C$)
Chicken Breast (1kg)	£8.93 (14.62 C$)
Cappuccino (regular, in a restaurant)	£2.87 (4.70 C$)
Beer (500ml, in a restaurant/pub)	£4.28 (7.00 C$)
Cinema ticket	£9.16 (15.00 C$)
Gym membership (monthly)	£33.66 (55.11 C$)
Preschool/Kindergarten (monthly)	£644.14 (1,094.44 C$)
Primary School (yearly)	£111,102.63 (18,178.85 C$)

 

Sign Up for a Personal Account with Moneycorp 

If you do decide to follow in the footsteps of the hundreds of thousands of British expats who’ve made Canada their home, you will need to send money to Canada from the UK securely, conveniently, and at great rates. Sign up for a personal account with Moneycorp and make this possible. Whether you move for a change of scenery, different work or business opportunities, study purposes, or your retirement, you will remain in control of your forex with Moneycorp’s personal products.