“Moderately expensive” is how one can describe the living expenses in Australia. It ranks as one of the more expensive countries in the world – in fact, Australia ranks at the nineteenth most expensive country in which to live, according to World Population Review.
For those living in Australia’s capital cities especially, the majority of monthly costs go towards housing – whether that be the cost of rent or a mortgage. Add to that the day-to-day expenses such as groceries, and you can see how things really start to add up.
But although Australia has the most expensive places to live in, residents have some of the highest purchasing power worldwide – and some of the most beautiful places to live, too.
The Most Expensive Suburbs by City
Australia’s vast land and remoteness can make it an expensive place to live. However, most of the cities are still cheaper compared to places such as New York, London, or Paris.
Still, the cost of living in the country may be higher than what most would expect. Here are the most expensive suburbs by city.
The Most Expensive Suburbs in Sydney
Diversity is among the best things about the suburbs of Sydney. A wide range of options and benefits can help you decide to move there, which may include safety, schools, scenery, nature, and transport.
Sydney house prices have a median of $1,410,133. Here’s a list of the most expensive suburbs in the city:
- Darling Point
- Bellevue Hill
- Double Bay
If you’re planning to live or buy a home in Sydney, the ideal suburb will depend on your needs, preferences, and budget.
The Most Expensive Suburbs in Brisbane
If you’re looking for suburbs that have easy access to the city and provide a strong suburban feel, start in Brisbane. The city’s suburbs also offer a mix of employment opportunities and work-life balance.
Brisbane is one of the more affordable large Australian cities and experienced a property boon during the COVID-19 pandemic. It has an average house price of $616,387. While many areas of Brisbane city and its surrounds are rather affordable, you may want to avoid these more expensive suburbs in Brisbane:
- New Farm
On the other hand, you may still want to consider these suburbs however, as they are continuously looking at ways for residents to flourish, giving them room to explore, recharge, and connect.
The Most Expensive Suburbs in Melbourne
Melbourne has been voted among the most liveable cities in the world a number of times, boasting its vibrant arts and culture, laneways and coffee scenes.
The quality of life in the city also extends to those raising a family. Melbourne has some of the best schools in Australia as well as activities to keep the kids entertained.
The city’s median house price is $936,073, making it an expensive place to live in the country. Among its most expensive suburbs are:
- Middle Park
- East Melbourne
The Most Expensive Suburbs in Adelaide
With a median house price of $574,264, Adelaide is a more affordable Australian city. It still has its expensive suburbs however namely:
- Toorak Gardens
- Rose Park
- Unley Park.
Don’t let the price turn you off! Adelaide is known for its many sporting and festival events, its food and wine, and its hills and coastline. The city is also the site to many financial and governmental institutions.
As Adelaide is relatively a smaller city, people get around easier and go anywhere within 20 minutes.
The Most Expensive Suburbs in Perth
Perth is a fabulous place to live in. With sunny weather nine months a year, the city has fantastic beaches and top-notched wine regions within a 10-minute drive from the metro.
Perth’s average house price is $563,214, which makes for the most expensive suburbs in the city. Here are your top six:
- City Beach
The Most Expensive Place to Live in Australia is… Sydney!
It’s not surprising that Sydney is the most expensive city in Australia. The average costs of moving there, which may include visa fees, rental prices, and storage, don’t come cheap.
Other costs to factor in are shopping, transport, and telecommunication.
If you’re looking to move anywhere in Australia, Cigno Loans can be of assistance for your financial needs. We offer personal loans to help you cover your rental deposit, moving costs, and more. Contact us today.
Disclaimer: Please be aware that Cigno Loans’ articles do not replace advice from an accountant or financial advisor. All information provided is intended to be used as a guide only, as it does not take into account your personal financial situation or needs. If you require assistance, it is recommended that you consult a licensed financial or tax advisor.