For the first time in 15 years, London is now cheaper than New York to live in. In fact, the British capital has officially become the most inexpensive city amongst the world's major globe centres - this mean it's lower than cities like Singapore, Paris and Tokyo.

The city's plummeting low ranking on the Economist Intelligence Unit (EIU) is pretty much entirely due to the Brexit-inspired 15 per cent fall in value of the sterling, according to The Irish Times.

 "While the declines mean that British cities are cheaper compared to their international peers, the rise in import prices caused by the weak pound will mean that locals won't see their own shopping baskets falling in price. In fact the opposite is likely to be true and, while UK cities fell down the ranking local prices for the basket of goods surveyed have begun to creep back up," explains the EIU.

Coming in at number one was Singapore city, and following that was fellow Asian captial, Hong Kong. See full list below: 

The ten most expensive cities in the world 

1. Singapore

2. Hong Kong

3. Zurich

4. Tokyo

5. Osaka

6. Seoul

7. Geneva

8. Paris

9. New York

10. Copenhagen

Why London has suddenly become affordable