by Property Australia Sydney has retaken its crown as the most expensive city to in Australia to build in, regaining the number one position from Perth, with an average cost of US$2,950 (A$4,413) per m2.
Sydney is still the most expensive city in Australia — you'll pay around a quarter more for living expenses in Sydney than if you lived in Darwin or Melbourne, and even more if you stayed in Adelaide or Hobart. The overall costs of living in Adelaide and Hobart are very similar.
Australia's most expensive suburbs by median house price are all concentrated in Sydney, the most expensive city in Australia, and one of the most expensive in the world.
What is the cheapest place to live in Australia? Hobart, Tasmania is the cheapest place to live in Australia. The historic capital of Australia's smallest state offers low house prices and living costs amidst beautiful scenery.
Sydney is the most expensive city in Australia (and is ranked the 15th most expensive city worldwide), nearly double the prices of the country's second most expensive city, Melbourne—and the already high costs are still rising.
According to Expatistan, this means Australia is one of the most expensive places to live (ranked 10 out of 71). Generally, a higher cost of living means that basic expenses have become – well, expensive.
Darwin is Australia's least populated place. The city has a population of 148,564 and a density of 703 people/sq km.
After maintaining the highest standard of community well-being for seven consecutive years, it comes as no surprise that the Australian Capital Territory (ACT) cemented itself as the best place to live in Australia.
And it turns out Perth has the wealthiest neighbourhoods in the country. Residents of Cottesloe and Peppermint Grove in the Western Australian capital boast an average taxable income of $325,343 apiece.
Of the top 10 richest postcodes, 1 is located in Western Australia, 1 is located in Victoria and the remaining 8 are all located in some of the most exclusive spots across Sydney. At the top of the list is Western Australia's 6011 postcode, which comprises Cottesloe and Peppermint Grove.
Bellevue Hill, Sydney
In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
South Australians have been found to be the most likely to consider other people's needs, according to the Helga's Kindness Index, a first-of-its-kind report examining the state of kindness in the country. Developed by McCrindle, the index surveyed 3,520 Australians nationally in June this year.
Among all the states and territories in Australia, New South Wales is considered the richest state. It has the largest economy, a diverse range of industries, and a higher-than-average income, which contribute to its status as the wealthiest state.
“Queensland's known as the Sunshine State. All those rays and the laid-back lifestyle might be among the reasons why it's Australia's happiest state,” Bayliss said.
Melbourne has been named the world's “friendliest” city, beating 22 other international favourites and arch-rival Sydney.
1. Canberra – Australia's Capital City. Nestled between Sydney and Melbourne, Canberra is not only the capital but also Australia's safest city. With a low crime rate and a small-town vibe, Canberra offers an attractive blend of city living and peaceful suburban life.
Queens Park is one of the most amazing and quiet cities to reside in Australia. Upper Caboolture In Queensland is a perfect place for lovers of a quiet environment. Apart from being a peaceful and relaxing area, it also provides residents with important amenities.
Housing, transportation, food and drink, and healthcare are the major expenses to consider when comparing the two countries. While the cost of living in Australia is generally higher than in the UK, it offers a high quality of life and a great lifestyle.
So why is the cost-of-living in Australia so high? One of the major reasons is inflation. A measure for household inflation, the Consumer Price Index, or CPI, increased by 2.1% in the first quarter of this year and 5.1% annually, according to data compiled by the Australian Bureau of Statistics (ABS).
Australia currently has the 12th highest cost of living in the world, with the USA and UK well behind at 21 and 23rd place respectively. The overall cost of living in Australia is 9% higher than the USA, but 10% cheaper than London.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
Topping the list as Australia's most expensive private school is likely Victoria's Geelong Grammar School for the second consecutive year. Tuition for year 10 - 12 students at the elite secondary school will set parents back $46,020 a year in 2023, up 5.4 per cent on 2022.