Australia’s cities are getting more expensive

Australia’s capital cities have leapt up the ranks in an annual global cost of living survey conducted by consultancy Mercer.

Australia’s capital cities have leapt up the ranks in an annual global cost of living survey conducted by consultancy Mercer.

Sydney is Australia’s most expensive city to live in, coming in 15th on the list ahead of famously opulent cities like Vienna, New York and Madrid.

Melbourne comes in next in 36th place, followed by Perth (53rd), Brisbane (57th) and Adelaide (71st).

Across the Tasman, New Zealand’s cities have also grown costlier, but even so the most expensive Kiwi city, 78th placed Auckland, remains a cheaper place to live than the least costly Australian capital.

Most striking, however, is the rapid rise in the cost of living experienced by the occupants of many of Australia’s state capitals. While Sydney only moved up a relatively modest six places, Melbourne jumped 28 places, Perth jumped 31, Brisbane 29 and Adelaide 23.

Changing currency values is a key reason for the shift, according to Mercer’s Rob Knox. “A weakening US dollar coupled with the sustained appreciation of the Australian dollar, has really pushed Australian cities further up the ranks,” he says.

Moscow retained its title as the world’s most expensive city this year, ahead of Tokyo, London, Seoul, Oslo and Hong Kong.

 

Read more on cost of living

You can help us (and help yourself)

Small and medium businesses and startups have never needed credible, independent journalism and information more than now.

That’s our job at SmartCompany: to keep you informed with the news, interviews and analysis you need to manage your way through this unprecedented crisis.

Now, there’s a way you can help us keep doing this: by becoming a SmartCompany supporter.

Even a small contribution will help us to keep doing the journalism that keeps Australia’s entrepreneurs informed.

Trending

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments