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How Expensive Is It to Live in Australia?

You may have already heard that living in Australia is not as affordable as people would like. It’s actually known to be very expensive and it has continued to be a topic of conversation among Australians. Although the country is perceived to be one of the most ideal countries for so many immigrants because of the many job opportunities, it is still one of the most expensive too.

But how expensive is it really? How much should you have in order to live a comfortable life?

Housing Costs

Sydney and Melbourne are two of the major cities in Australia. Naturally, if you decide to reside in one of these two, you will definitely find out how expensive the cost of living is. Housing costs in both Sydney and Melbourne have not been less than $1 million since early 2015. Some reports are stating that it might just change before the end of the year and the costs would fall which would give potential buyers a chance to contemplate on investing in their own residential property.

Alternatively, there are ways that can solve some of those housing costs dilemmas. Other areas in Australia, such as Hobart, Adelaide, and Brisbane have the most affordable houses in the country. You might be able to adjust your expenses better if you choose to live somewhere that you can afford as opposed to somewhere you want to.

Energy Costs

Another thing that makes living in Australia a challenge to many is the energy cost. In Australia, the estimated electricity bill according to studies has increased as high as $500 during the past three years. In the past, the electricity networks were owned by the state. When these networks were privatized, this caused higher electricity prices because these private suppliers were able to make faster price increases. According to experts, this was due to the regulation that is badly designed. The natural gas prices have also increased so much as well. Reports state that gas and electricity prices homeowners will have to pay may go from $35 to $140 on a weekly basis.

Population Growth

There is actually no problem in terms of population growth in the country per se. The problem actually lies with how the major cities have most of the country’s population—meaning, the population is not spread desirably which makes the nation not very export friendly. Because of this matter, the price increase happens a lot.

Everything Else

“Everything is just so expensive” is just one of the most common sentiments of a typical Aussie or anyone who lives in the country, especially in the major cities. This is actually a lot to do with the taxes on marked prices. The government tax policies, in general, make the prices, whether it’s in a store or a restaurant, so much more expensive. Plus, there are issues pertaining to the non-increase of salaries among employees and workers in many areas in Australia. Many people have complained that only the prices are constantly increasing but the salaries stay the same—and have stayed the same for a couple of years now.

Although the rising cost of living in Australia has been a worry for Australians and those who are planning to migrate to the country, many maintain that the quality of life is better compared to most countries. Australia is a well-developed country. Generally speaking, yes, living in Australia is expensive. But it depends on the region and your lifestyle.

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