Cost of living in Sydney

NSW - high quality, low-cost living

Australia's cost of living is lower than that of Japan, Hong Kong, Singapore, Taiwan, the United States and the United Kingdom.

New South Wales (NSW) has a sophisticated, modern economy and the State has experienced an annual growth rate of 4.3 per cent over the last five years (to 1999-2000). In addition, the cost of living in the State is highly competitive when compared with other areas in the Asia Pacific.

A recent survey conducted by the Economist Intelligence Unit (EIU) in 2001 found that Sydney sits in 72nd place on a list of 133 world cities for cost of living. The listing puts the most expensive city at number one. Sydney improved 18 places from the 54th most expensive city in 2000. Osaka and Tokyo were among the most expensive cities in the world, while Hong Kong, Oslo, London, New York, Zurich and Singapore were also more expensive than Sydney. According to the survey, a meal for four at a good restaurant would cost considerably less in Sydney than in other major cities.
Cost of dinner for four:
City / Cost
Hong Kong / $US609
London / $US478
New York / $US525
Sydney / $US294
The EIU survey also found that groceries cost around 54 per cent less in Sydney than in New York. Gas, electricity and water cost around half that of New York's utilities. Not only can you find world-class Australian wines in Sydney, the city is cheaper than any other surveyed city for table wine.
Cost for 750ml bottle of wine:
City / Cost
London / $US5.13
New York / $US7.99
Hong Kong / $US8.97
Johannesburg / $US5.15
Sydney / $US5.10

Our currency
Some European and US staff of overseas-based multinationals who are transferred on a short-term basis, negotiate to be paid in their home-based currencies (or the Australia dollar equivalent). This ensures that they will not be disadvantaged by the low value of the Australian dollar relative to their own currencies. The lower cost of living in Australia compensates for A$ wages. On a purchasing power parity basis (adjusting for differences in price levels), Australia's GDP per capita is level with Japan and higher than that of Hong Kong, the United Kingdom and Singapore.