Australia is generally considered to be more expensive than the UK. Because of Australia's location in the world, much of the food has to be imported, therefore increasing the cost. You can see the difference in the price of everyday grocery items between Australia and the UK in the chart below.
Housing in Australia is much more expensive than the UK.
United Kingdom is 8.7% cheaper than Australia.
Food in the UK is 26% cheaper than food in Australia. Generally, food is cheaper in the UK. Only the price of milk and local cheeses is lower in Australia – all else is more expensive. (There are large variations in prices depending on the region and city where you are.)
It may well be absolutely no surprise to you that clothes shopping is going to be an easy win for England. The amount of variety and updated stock in the shops is incomparable to the Aussie shops. With the likes of Primark in UK, clothes shopping is much much cheaper.
The UK vs Australia: Quality of life. In general, the living standards in Australia are noticeably higher than in the UK. The highest quality of life is also accompanied by higher average wages.
Overall, the cost of living in the U.K. is 0.49% lower than in the United States. Rent overall is about 22.55% lower in the U.K.
Income taxes are lower in the UK due to the progressive rates of tax applying at higher levels of taxable income, but as the UK also has much higher medical contribution taxes than Australia, the UK taxpayer may end up with a higher overall tax burden.
Australia's maximum 47 per cent rate is 8 percentage points higher than New Zealand (39 per cent), about 5 percentage points above the US (a figure which includes an estimated average state income tax) and 2 percentage points higher than the UK.
Australia has lots to offer British newcomers, including a shared language and culture, and a close relationship with the UK (despite being so far apart geographically). It boasts scorchingly sunny weather, great quality of life and beautiful beaches, along with friendly people and lots of space for outdoor living.
As a study destination that has the second largest number of international students, the UK is much-preferred for its world-class teaching faculties and research facilities. Be it any discipline - business, design, or arts and science - the UK offers the best-in-class education to students worldwide.
Do Australians need a visa for the UK? Australian nationals do not require a visa to come to the UK for a short-term visit of up to 6 months. However, a UK visa is required for Australian citizens who wish to stay for longer than 6 months.
Is Australia in a cost-of-living crisis? Anyone living in Australia is aware there is a cost-of-living crisis. As of June 2022, the inflation rate in Australia ballooned to 6.1%—setting a 21-year record—with food, rent, petrol, and gas prices skyrocketing.
In general, Australia is a very safe country to visit, or live in, with crime levels as low as those of most Northern European countries. According to the gov.uk foreign travel advice website, the level of crime in Australia is no higher than in Britain.
Foreign residents will only be required to declare income or capital gains tax on income/gains generated in Australia when submitting their Australian tax return.
The winner of the most affordable city in the UK is Londonderry, Northern Ireland.
Australia is the OECD's 10th lowest taxing nation.
Overall the tax burden in the UK is not as high as in other European nations - it's 46% in Denmark and 45% in. But how much are the highest earners taxed on their incomes? Out of all major European nations, the UK has only the 17th highest top income bracket at 45%.
Commonwealth, Westpac, ANZ and National Australia Bank were all in the top 10, paying a combined $8.3 billion in tax. Woolworths won the supermarket wars in 2021, paying $636 million in tax off the back of higher revenue than rival Coles, which paid $445 million.
The last pre-pandemic Budget projected taxes rising to their highest share of GDP since the early 1970s. One underlying reason for higher taxes is weaker economic growth. Before the 2008 financial crisis it was widely assumed that the trend growth rate of the British economy was around 2.75 per cent.
A mix of cutthroat competition and innovation helped keep UK prices among the cheapest globally for decades, with the average share of household spending on food in Britain well below its European neighbors.
How expensive is Australia compared to other countries? While life in Australia comes with a price tag, Mercer's most recent survey shows that Australian cities are not in the top 50 when it comes to cost of living, which is good news for companies relocating employees to the Asia-Pacific area.
All in all, the cost of living in the UK, especially in London, is fairly high.
Australia scored highly in the United Nations' 2022 World Happiness Report, ranking as the 12th happiest country out of 156 countries – ahead of Canada (15th), the United States (16th) and the United Kingdom (17th).