Gold Coast is one of the cheapest places to live in Australia (89th globally). It is known for its high-standard education and academia and its budget-friendly living. International students will find the Gold Coast the perfect combination of study and social life, with its magnificent beaches and nightlife.
Sitting off the southeast coast of the mainland is Australia's littlest state and cheapest place to live, Tasmania. Its capital city Hobart boasts house prices around 25% lower than the country's average, and purchasers can bag property for 60% less than they would in cities such as Sydney or Melbourne.
Most affordable suburbs in 2022
Kambalda East in Western Australia was named the most affordable suburb for houses, with a median value of $118,525. For units, the most affordable suburb was Laguna Quays in Queensland, with a median value of just $72,076.
Coober Pedy, South Australia
A suburban community in South Australia, Coober Pedy's median house price is $72,000 and its average rent price is $180 per week (or $720 per month). Coober Pedy is often called the opal capital of the world due to the high levels of the mineral that are found there.
Melbourne is considered by some to be the best city to live in Australia, and has even been ranked as the world's most livable city more than once. It's home to a thriving live music scene, late-night bars and laneways dotted with cafés and coffee shops.
Sydney Is Still Australia's Most Expensive Place To Live, but Melbourne and Brisbane Are Not Far Behind. Singapore and New York have tied for the title of world's most expensive city in this year's Worldwide Cost of Living report.
The north-west NSW town of Bourke is the cheapest place to buy farmland for sale in Australia, according to the 2022 Rural Bank Farmland Values Report.
Mississippi is the cheapest place to live in the United States, with a cost of living 16.7% lower than the national average. It also has the cheapest transportation on our countdown. Now, 4.5% unemployment was an all-time low for Mississippi in early 2022, but it's pretty high compared to the national average.
Sydney prides itself on safety, deep culture, and friendly communities. It is considered the fifth safest city in the world and Australia's safest city. Like any other city, there is crime, just not as much. It is no secret that Sydney is a major city with a population of 5.2 million.
Sydney is one of the top cities to find jobs abroad in Australia. It has an exciting and busy downtown core, and is also surrounded by the beautiful beaches and nature that Australia is famous for.
Canberra is the happiest capital of Australia, according to research.
Queensland claimed the title of the country's happiest state. Savings aspirations among Australians remain very high, with the number of people trying to save rising to 76% overall (73% in Q2), and to 96% among 18 to 29-year-old women. Pets continue to be the biggest contributor to a person's wellbeing.
Latest quarterly CommSec data shows Victoria is the best performing economy in Australia, ending Tasmania's long run at the top. After nine quarters at the top, Tasmania has slipped to third position in the rankings of the best performing economies, according to the latest quarterly CommSec State of the States report.
Cost of living in Sydney
According to Numbeo, Sydney is the most expensive place out of Australia's seven major cities.
Brisbane, Hobart and Sydney become least affordable cities for renters as regional centres also suffer. Housing stress is on the rise in regional Australia as well as every capital city, as tenants grapple with “unsustainable” rent increases outpacing wages.
Sydney regains the top spot as Australia's largest city for 2021, but Melbourne is close on its heels.
Brisbane has been renowned for being Australia's fastest-growing city, recording an annual population growth rate of 1.8% over the last five years, outpacing both Sydney (1.4%) and Melbourne (1.5%).
Between 2011 and 2021, Melbourne had the largest growth (up by 806,800 people), followed by Sydney (650,800) and Brisbane (421,500).