An interesting move, my wife and I were at Bateman's on Tuesday and I actually made the comment, when we looked at Kipling's Rolls, how things had changed with the chauffeur on the hard wearing leather seats and the gentry on the comfy fabric seats, and here we are with the Velar offering fabric.
Depends on what trim you have. For me it was the same price but you cant get heated steering wheel or extended leather on the dash when you select the fabric material. Leather on the steering wheel is a must because I am not sure how suede cloth is going to hold up. From past experience, anything else like Alcantara which is similar to the suede cloth, looks good on the steering wheel but it doesn't hold up.
I personally would have thought it was a cheaper option not the same or more, if i had the choice for either at the same or more cost then i would choose the leather option personally even though the cloth image above looks very nice.