SYDNEY is the world?s 12th most expensive city in which to live, according to the latest measure of global cost-of-living expenses. A survey of more than 350 global cities found the rest of Australia was similarly pricey, with the land down under now figuring among the world’s least affordable countries.
Perth and Darwin emerged as the 10th and 11th most expensive cities in the world overall due to recent increases in rent and cost-of-living expenses. Only cities in the notoriously expensive nations of Norway and Switzerland cost more.
Sydney’s CPI – that is, the cost of daily expenses like restaurants, transport, electricity and other utilities – fared poorly, particularly the cost of groceries. The Numbeo online survey claims to be the largest of its type in the world, with figures collated from almost 100,000 users who submit data about the cost of living in their local communities.
Scores, updated weekly, are based on comparing prices to those in New York City. If a city has a CPI index of 120, it means it is 20 per cent more expensive to live in than New York, not including the cost of rent.
Sydney’s CPI was 116, making it 16 per cent worse for residents in terms of daily expenses. The survey found Sydneysiders paid less rent than New Yorkers, but they were still forking out more than almost anywhere else in the world.
New York City itself was 46th on the list, while the Indian cities of Hyderabad, Coimbatore and Nasik were deemed the world’s cheapest.
Rent in Nasik – the 11th most populated district in India – is 96 per cent cheaper than in New York. It needs to be though, with the city’s residents enjoying less than a third of the relative purchasing power than those in Manhattan.
JULY 11, 2013