With a cost of living index of 111 all goods are on average about 11 percent more expensive than in the USA. Sydney is home to country’s cheapest hot drinks with a regular cappuccino costing about $3.90, compared with the highest median price for the same item in Darwin, at $4.75.The Northern Territory capital might be small in size — with a total population of about 250,000 people — but it’s also home to some of the highest prices for fuel and utilities nationwide.The national average for unleaded petrol is 138.9c per litre. Those with kids can more than double their outgoing expenses if they live in Sydney with the cost of sending one child to childcare full-time for a month about $2038.27. Mercer’s ‘The Cost of Living Survey’ reveals Sydney as the nation’s most expensive city, however with a depreciating Australian Dollar, the city has dropped from 29 to 50 in global rankings. Now you calculate the 11% higher costs against the 12% higher income. Australian cities have significantly slipped in the global rankings of the most expensive locations for employees working overseas, a new research survey has found.Mercer’s ‘The Cost of Living Survey’ reveals Sydney as the nation’s most expensive city, however with a depreciating Australian Dollar, the city has dropped from 29 to 50 in global rankings. In 2019 Mercer published a survey ranking the quality of living in 231 cities around the world. Picture: Destination NSWSydney is the most expensive place to live in Australia. What is the Cost of Living Index? The survey attributed the bullet rise to the country’s shortage of currency and imported goods driving up prices.Ms Costa said while the actual cost of living in the Pacific hasn’t fallen, the exchange rate is a key factor when it comes to calculating expatriate packages.She said as a result, the major cities in both Australia and New Zealand are more “attractive” for international businesses to send workers.“On the other hand, currency fluctuations mean it has become more expensive for Australian and New Zealand-based businesses to send employees to many major international markets,” she said. With a median house price of $402,000, strong capital growth and good long- term projections, the area presents a solid market.Even suburbs that are located within less than 2km from the CBD, including North Hobart and South Hobart, with median houses prices of $582,000 and $631,000, respectively, are relatively affordable compared to cities like Sydney, where the median house price is upwards of $1 million and Melbourne where it has pushed past $840,000.In Victoria, households are shelling out almost $75,000 a year on general living expenses, a major study of spending habits reveals.The 2017 Household Expenditure Survey found that in 2015-16 essentials cost $843 of the average $1430 Victorians spent on goods and services each week.Housing costs — on rent, mortgages, rates and home-and-contents insurance — were the biggest drain ($257), the Food, including meals out and non-alcoholic drinks, cost $244, and transport — driving, taxi fares, and train, tram and bus fares — cost $218.A buoyant Canberra housing market is leading to healthy long-term investment options for savvy homebuyers, according to RiskWise Property Research.While the Sydney market goes flat, many Sydney-based investors and buyers’ agents are looking to Canberra — which has a median house price of about $750,000 — as a solid long-term property market that delivers both capital growth and solid rental return.Less than 300km southwest of Sydney, Canberra has enjoyed solid capital growth of 23 per cent over the past five years and 10 per cent in the past 12 months.RiskWise Property Research CEO Doron Peleg said it was a trend set to continue.“This will be driven by ongoing population growth due to the strength of the local labour market and its growing status as a city of choice for a growing number of Australians,” Mr Peleg said.“Canberra is a rapidly expanding city with a stable property market that offers relatively affordable housing (in house-to-income terms).
This is as a result of the region’s high costs for consumer goods and housing market.The remaining three cities inside the top 10 most expensive are Zurich, Ashgabat and New York City.Ashgabat in Turkmenistan soared 36 places in rankings, jumping from 43 in 2018. Picture: Justin KennedyThe Gold Coast is also where you can find the country’s cheapest bread, at $2.12 a loaf.
Picture: Destination NSW.IT’S no surprise to most Australians that the cost of living varies greatly from one city, state or territory to another.But exactly which places are the most affordable when it comes to everyday expenses including rent, fuel, groceries, transport, utilities and education? Picture: Destination NSW.But not all is lost for Sydney — while residents might be down thousands of dollars in rent, they’re up an entire buck or two when it comes to coffee. “I wish they’d just start talking about everyday Aussies in terms of cost of living,” he said on Wednesday.While Sydney ranked 32 in the list of the world’s most expensive cities, it was the 16th most expensive city in terms of rent, according to Numbeo.Sydney has this year risen to number 32 in this year’s Cost of Living Index, up from 41 last year, according to Numbeo.Melbourne rose to 64, up from 77, while Adelaide, Cairns, Hobart and Canberra also moved up the list to 58, 69, 82 and 103 respectively.Only Perth (56), Darwin (68) and Brisbane (93) have become more affordable, according to the site, which ranks the results based on information provided by thousands of residents.A one-bedroom, city centre apartment costs an average of $2681.48 per month in Sydney.That’s compared with Melbourne ($1767.60), Canberra ($1733.26), Brisbane ($1726.13), Adelaide ($1705.67), Gold Coast ($1568.92), Darwin ($1524.35), Perth ($1523.41) and Hobart ($1208.33).
That’s compared to the most expensive average of $8 in both Melbourne and Darwin.For the more straight-laced, Hobart could be a better option, boasting the cheapest milk at $1.11 for one litre.
The average monthly cost of a power and water bill in a 85m2 apartment in Perth is $181.2.
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