The Cost of living in Sydney is justified by the fact that Sydney Australia
is one of the best cities in the world.
Sydney Universities offer complete range of programs and degrees that yields
internationally recognized degrees.
Considering the quality and reasonable living expenses in Sydney, specially
when compared to the U.S., Sydney Australian is considered one of the most
popular destination for a world class living.
Australian Government survey showed that in terms of total costs of living
expenses, living in Australia was less expensive than the USA and UK.
Living costs too will vary by location, and of course by your lifestyle.
Click Here to see who live where?
Costs are higher in urban centers and lower in regional areas.
Initial establishment costs for a shared apartment, such as rental bonds for accommodation, electricity, gas and telephone,
could add up to at least A$1,500.
Here is a quick guide of the cost of living in Sydney:
Rent: A$100-500 Weekly rate (share accommodation is cheaper)
Bread A$2.40
Litre of milk A$1.40
Dozen eggs A$2.20
Instant noodles A$0.60
BBQ chicken A$8.00-10.00
1 kg of rice A$1.65
Haircut: male A$10.00-40.00
Haircut: female A$20.00-100.00 (Women in Australia pays more for haircut!)
Movie ticket A$13.00-15.00 (student discount might apply)
Restaurant/café meal A$8.00-25.00
Medical: A$30 per consultation
Bus A$15 (special discount for students)
Books: A$50-200 depending on the book
Gas and Electricity: A$10-15 if you share accommodation
Taxi: 5 Minutes ride could cost A$5-10
Buy car: A$5000-50,000
Newspapers: A$1
Australia offers lower tuition fees for many comparable programs in the US. Here is an example of the average tuition costs
per program as compared with US programs:
Bachelor of Business MBA
Australia (3 years): US$70,000 Australia (1.5 years): US$33,856
US public (4 years): US$119,882 US public (2 years): US$69,085
US private (4 years): US$167,828 US private (2 years): US$92,580
In the year 2008, AUSTRALIA’s rate of inflation has hit a 17-year high and exceeded market forecasts putting pressure on
interest rates. The headline CPI rose 1.3 per cent in the March quarter, for an annual rate of 4.2 per cent. The median market
forecast was for a rise of 1.1 per cent in the March quarter and an annual pace of 4.0 per cent.
The RBA's preferred measures of underlying inflation contained within the CPI report showed an average annual rate of 4.25
per cent in the year to March compared to 3.6 per cent previously. The last time underlying inflation was this high was 1991.
I think these inflation figures are a stark reminder of the price pressures hitting Australian families.
RBA governor Glenn Stevens had forecast inflation to hit 4 per cent in the March quarter. A breach of this could pressure the
RBA when in two weeks time to decide the next interest rate movement.
ICAP senior economist Matthew Johnson said the central would be “very concerned by the acceleration the core inflation
rate”.
ANZ head of research Warren Hogan said the strong data meant there was a "prominent risk" of another rate rise after
today's numbers.
But he said if the RBA does decide to raise interest rates, it would more likely be in August after the second quarter CPI
figures are released in late July.
“It will probably more likely happen in August if they were going to move, rather than in May, because they are seeing the
economy slow,'' Mr Hogan said.
“But if the economy does not slow and the next CPI, is high, which we suspect it will be unfortunately, they will probably
more likely to move in August.''
Take a joyride back to 1991
There's no doubt Australia’s changed since the last time inflation was this high. In 1991 Roxette's Joyride was at the top of
the charts, Hawthorn won the Grand Final, and the Penrith Panthers won their first NRL title over the Canberra Raiders.
Bob Hawke reigned as PM for most of the year as Prime Minister, only to be ousted by Paul Keating in December.
But how did the cost of living compare to back then?
Interest rates were higher, and we were earning less than half of what we take home today. According to ABS data, total full-
time weekly earnings in May 1991 stood at $595.60. In November 2007 it was $1162.20.
But as they say, it’s all relative -- the average retail price of household goods looks dramatically different to some of the
numbers we’re used to seeing in the supermarket aisles today.
According to the ABS, a pot of full-strength beer (285ml) in a pub cost between $1.47 in Sydney and Hobart ranging to $1.99
in Darwin. A case of full-strength beer averaged around $20. Today it is nearly double that.
The average price of a kilo of spuds was around 75 cents. Today a kilo of loose potatoes at Coles goes for $3.76.
A loaf of sliced white bread averaged at about $1.44. Today the average loaf of white bread costs around the $4 mark. A litre
of milk bought from the supermarket would set you back around 90c a litre in 1991. You can now expect to pay around $2.30.
A dozen eggs went for around $2. Today you can expect to pay anywhere from $5 for a dozen caged eggs, right up to more
than $9 for a dozen free-range organic ones.
The difference is startling at the petrol pump. Rising world oil prices have pushed today’s petrol prices to around $1.50. In
1991, super petrol, traditionally pricier than unleaded, went for around 70 cents a litre.
A look at the financials
In May 1991, the Australian dollar would get you US76.09 cents. Nowadays it hovers around US91-93 cents, nearing parity.
Interest rates were higher. The Reserve Bank official cash rate was 11.5 per cent in April 1991, but had dropped to 8.5 per
cent by December of that year. The official cash rate now sits at 7.25 per cent.
Standard variable home loan rates were 14.5 per cent in April 1991 dropping to 12 per cent by that December. Standard
variable rates are now 9.35 per cent.
is one of the best cities in the world.
Sydney Universities offer complete range of programs and degrees that yields
internationally recognized degrees.
Considering the quality and reasonable living expenses in Sydney, specially
when compared to the U.S., Sydney Australian is considered one of the most
popular destination for a world class living.
Australian Government survey showed that in terms of total costs of living
expenses, living in Australia was less expensive than the USA and UK.
Living costs too will vary by location, and of course by your lifestyle.
Click Here to see who live where?
Costs are higher in urban centers and lower in regional areas.
Initial establishment costs for a shared apartment, such as rental bonds for accommodation, electricity, gas and telephone,
could add up to at least A$1,500.
Here is a quick guide of the cost of living in Sydney:
Rent: A$100-500 Weekly rate (share accommodation is cheaper)
Bread A$2.40
Litre of milk A$1.40
Dozen eggs A$2.20
Instant noodles A$0.60
BBQ chicken A$8.00-10.00
1 kg of rice A$1.65
Haircut: male A$10.00-40.00
Haircut: female A$20.00-100.00 (Women in Australia pays more for haircut!)
Movie ticket A$13.00-15.00 (student discount might apply)
Restaurant/café meal A$8.00-25.00
Medical: A$30 per consultation
Bus A$15 (special discount for students)
Books: A$50-200 depending on the book
Gas and Electricity: A$10-15 if you share accommodation
Taxi: 5 Minutes ride could cost A$5-10
Buy car: A$5000-50,000
Newspapers: A$1
Australia offers lower tuition fees for many comparable programs in the US. Here is an example of the average tuition costs
per program as compared with US programs:
Bachelor of Business MBA
Australia (3 years): US$70,000 Australia (1.5 years): US$33,856
US public (4 years): US$119,882 US public (2 years): US$69,085
US private (4 years): US$167,828 US private (2 years): US$92,580
In the year 2008, AUSTRALIA’s rate of inflation has hit a 17-year high and exceeded market forecasts putting pressure on
interest rates. The headline CPI rose 1.3 per cent in the March quarter, for an annual rate of 4.2 per cent. The median market
forecast was for a rise of 1.1 per cent in the March quarter and an annual pace of 4.0 per cent.
The RBA's preferred measures of underlying inflation contained within the CPI report showed an average annual rate of 4.25
per cent in the year to March compared to 3.6 per cent previously. The last time underlying inflation was this high was 1991.
I think these inflation figures are a stark reminder of the price pressures hitting Australian families.
RBA governor Glenn Stevens had forecast inflation to hit 4 per cent in the March quarter. A breach of this could pressure the
RBA when in two weeks time to decide the next interest rate movement.
ICAP senior economist Matthew Johnson said the central would be “very concerned by the acceleration the core inflation
rate”.
ANZ head of research Warren Hogan said the strong data meant there was a "prominent risk" of another rate rise after
today's numbers.
But he said if the RBA does decide to raise interest rates, it would more likely be in August after the second quarter CPI
figures are released in late July.
“It will probably more likely happen in August if they were going to move, rather than in May, because they are seeing the
economy slow,'' Mr Hogan said.
“But if the economy does not slow and the next CPI, is high, which we suspect it will be unfortunately, they will probably
more likely to move in August.''
Take a joyride back to 1991
There's no doubt Australia’s changed since the last time inflation was this high. In 1991 Roxette's Joyride was at the top of
the charts, Hawthorn won the Grand Final, and the Penrith Panthers won their first NRL title over the Canberra Raiders.
Bob Hawke reigned as PM for most of the year as Prime Minister, only to be ousted by Paul Keating in December.
But how did the cost of living compare to back then?
Interest rates were higher, and we were earning less than half of what we take home today. According to ABS data, total full-
time weekly earnings in May 1991 stood at $595.60. In November 2007 it was $1162.20.
But as they say, it’s all relative -- the average retail price of household goods looks dramatically different to some of the
numbers we’re used to seeing in the supermarket aisles today.
According to the ABS, a pot of full-strength beer (285ml) in a pub cost between $1.47 in Sydney and Hobart ranging to $1.99
in Darwin. A case of full-strength beer averaged around $20. Today it is nearly double that.
The average price of a kilo of spuds was around 75 cents. Today a kilo of loose potatoes at Coles goes for $3.76.
A loaf of sliced white bread averaged at about $1.44. Today the average loaf of white bread costs around the $4 mark. A litre
of milk bought from the supermarket would set you back around 90c a litre in 1991. You can now expect to pay around $2.30.
A dozen eggs went for around $2. Today you can expect to pay anywhere from $5 for a dozen caged eggs, right up to more
than $9 for a dozen free-range organic ones.
The difference is startling at the petrol pump. Rising world oil prices have pushed today’s petrol prices to around $1.50. In
1991, super petrol, traditionally pricier than unleaded, went for around 70 cents a litre.
A look at the financials
In May 1991, the Australian dollar would get you US76.09 cents. Nowadays it hovers around US91-93 cents, nearing parity.
Interest rates were higher. The Reserve Bank official cash rate was 11.5 per cent in April 1991, but had dropped to 8.5 per
cent by December of that year. The official cash rate now sits at 7.25 per cent.
Standard variable home loan rates were 14.5 per cent in April 1991 dropping to 12 per cent by that December. Standard
variable rates are now 9.35 per cent.
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