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| Five Oz cities among 20 most expensive |
   
Posted Date: 14/02/2012
By AAP
One in four of the world's most expensive cities are in Australia.
It now costs more to live in some parts of Australia than to live in New York, Rome, Los Angeles, Berlin or Hong Kong, according to the latest survey by the Economist Intelligence Unit.
Sydney leads the list of the five Australian mainland capital cities in the top 20.
Sydney globally is ranked at number seven, ahead of Melbourne at number eight.
Perth is the 13th most expensive place to live in the world, Brisbane is 14th and Adelaide is 18th.
It now costs more to live in each of the five Australian cities than London, New York, Rome, Los Angeles, Berlin or Hong Kong.
The report's editor, Jon Copestake, said the cost of a loaf of bread in Sydney had almost doubled in the past 10 years, while petrol had risen threefold.
He placed the blame for the high cost of living on the strong Australian dollar.
"Exchange rates have been the greatest influence for the Australian cost of living, with the Australian dollar seeing its value to the US dollar double in a decade," he said.
Local price inflation, especially last year, has also played a part, he said.
When the survey was last conducted in June, four of Australia's cities were in the top 20.
Copestake said a city's desirability as a destination could also affect its cost of living ranking.
Cost of living increases in Switzerland, where the Swiss Franc has emerged as a haven currency amid the eurozone crisis, led to currency-related cost pressures there.
For the first time in 20 years Zurich outranked Tokyo as the world's most expensive city.
Switzerland, Japan and Australia each ha two cities in the top most expensive cities in the world.
The survey compares the price of more than 400 items including food clothing, rent, transport, utility bills and recreational costs.
At the other end of the scale the least expensive city in the world is Muscat, in Amman.
AAP |
Friday, March 02, 2012 by CL
The government is turning a blind eye on to this one. It is damaging everyone in Australia (except the natural resources industry - who happens to reap all the benefits!) - not just this generation but the future generation Australians. The talents will be fleeing Australia to work elsewhere more affordable and (ofcourse) less isolated!!
Saturday, February 18, 2012 by Martin Janowitz
I have been in Germany beginning of this year and expexted it to be expensive. We went to a bootle shop and a branded case of beer cost them $10. I asked him how much he pays in rent and he said it is around $500 a months for a 3 bedroom apartment.($130 a week) The average earnings are the same than here in Sydney
Thursday, February 16, 2012 by Jeremy
It is certainly on par with prices in (central) London, if not higher in some cases. At least wages for the most part are high enough to afford a relatively good lifestyle. Unlike many of the european cities (austerity anyone!?)
Wednesday, February 15, 2012 by JB
5 in the top 20. Not something we should be striving to win. No wonder tourists are calling us the rip off nation.
price of things like movie tickets ($18??), public transport really don't help our cause.
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