Cost of Living Australia 2024 & Monthly Expenses to Expect | How Expensive is Sydney?!

Moving to Australia in 2024? Wondering how much it costs to live in Australia? How expensive is Sydney / Melbourne? This is your complete guide to the cost of living in Australia and ALL the monthly expenses you need to expect if you're planning on moving here.
Recently, it was announced the Sydney housing market has surpassed New York and London, consistently ranking in the top most expensive cities in the world to live in. Today, we'll chat about all the different expenses you could be expecting if you're moving here, including: housing expenses, rent, property bills, utilities, gym, groceries, dining out, phone plans and medical appointments.
Music by Chinsaku - Cozy - thmatc.co/?l=182959C5
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subscriber count at time of upload: 4096
FTC: I am not a financial expert and this video is not sponsored. All opinions are my own

[@erictang4798]

I know Sydney is expensive. Below is my way of saving $$ 1. I own my house and no rent is needed and no strata. 2. I have full solar panels on my roof and I run most device like washing machine, dishwasher, vaccum cleaner during the day when power is free. 3. I cut my hair. 4. I never take public transport as I drive to work and consume cheap Costco fuel. 5. I hardly eat out as I cook 99% at home, basically having dinner party with friend at home. Buying coffee & bubble tea does not apply to me. 6. I never go to cinema as I have 75 inches big TV with netflix subscription with surround sound speakers to watch movies. 7. I DIY most things at home. 8. I use gift card with 5% discount to shop in Wooly supermarket. 9. I enjoy free exercise and hobby like bike ride, fly my drone & picnic. This measure is not hard, just abit of change of life style for me.

[@candidlyvivian]

I love this Eric!! I agree with pretty much all of your points and they are all things I have been practising across 2023: - less eating out because home cooked food is yummier and cheaper and larger portions... - no takeaway coffees bc coffee machine at home is great (thankfully i've never liked bubble tea so that wasn't too difficult) - cashback on everything and only buying on sale - not getting hair / other beauty stuff done outside - no cinemas either (i've always found cinema seats gross too, so I just wait until it's cheap to rent / hit streaming services and watch it at home instead)

[@erictang4798]

@@candidlyvivian I have also stopped buying thing from real stores like Bunnings, big W but ordered them online Temu with maybe 1/4 of the price. My GP is 100% bulk bill and I have health insurance to cover my dental and spectacle bills.

[@candidlyvivian]

omg hahah Temu is the best! and if you're not in a rush...order on Ali Express for even cheaper 🙃

[@erictang4798]

@@candidlyvivian Ali is not cheap and they charge for delivery...

[@candidlyvivian]

ahh I actually got lucky with them and ordered some home decor items for relatively cheap!! @@erictang4798

[@valentinaquiroga8294]

Thank you so much for the video! It was super clear and great help ❤

[@candidlyvivian]

yay no worries! :D

[@Disillusioned2022]

Dude you're gorgeous. Thanks for the video. It only re-affirms my decision to leave Australia and live in SEA was well worth it. My lifestyle here is that of a king considering I can keep my Australian job 100% wfh. I never left Australia. In the end, it left me.

[@candidlyvivian]

thank you! that’s great you get to work remotely on an australia income 🙂 all the best :)

[@tanthaman]

Simp

[@Disillusioned2022]

@@tanthaman Words like simp, or incel, or racist - they have no meaning anymore. They are used by people in all the incorrect ways. Take your example - you called me a simp because I called a girl gorgeous. Ay yi yi.

[@tanthaman]

@@Disillusioned2022 you called a girl beautiful on the Internet. You are a simp my friend

[@jonathanbriones3235]

I haven't seen in mentioned, but maybe go to Aldi for living essentials (i.e. meat, veggies....etc.). They have less variety than Coles or Woolies, but they're 30% cheaper. Would recommend Aldi for the everyday stuff.

[@candidlyvivian]

oh yes good tip!! i forgot to mention 🥲 I love Aldi too, significantly cheaper - i also carry some cash to avoid the card surcharge LOL

[@VirtualOliverP]

A great rundown of costs of living in Australia especially in good ol Sydney 😅

[@candidlyvivian]

hahah yes good old Sydney bleeding us dry 😂

[@hermesliteratus882]

The cost of living in Australia has been increasing dramatically ever since the beginning of Covid in 2020 and there is no sign of easing any time soon. Now added to that is the sky rocketing property price in every major city in the country except for Melbourne.

[@candidlyvivian]

it has been absolutely crazy. salaries haven't moved that much making things so much harder!

[@breeze5393]

those small, seemingly innocuous purchases for things like coffee, bubble tea, bottled water and fast food really do add up 😢

[@candidlyvivian]

i agree!! bubble tea is so overrated

[@user-zm4jc5lh5n]

I m coming on tourist visa to find job which place is best plz guide about cheapest place even sharing room

[@candidlyvivian]

flatmates.com.au for share rooms! alternatively domain + realestate are Australia's leading rental websites

[@sravankumar8763]

This looks real calculations, but rent is it 2200? In melbourne youll get 2bhk and can share with frnds

[@candidlyvivian]

hi there! yes unfortunately Sydney rent is really crazy right now - 1 bedrooms go for $500-$700 and 2 bedrooms can be at least $700 and range up to $1k per week depending on location

[@hijazzains]

​@@candidlyvivianmy friend pays $800 a week for a 2 bedroom 1 hour away by train from his CBD workplace...and he earns that median weekly income with a mkn working wife and baby

[@candidlyvivian]

@@hijazzains that sounds about right 😢cost of living + rental prices are actually so crazy lately

[@nealtran6844]

90K a year is not considered average.

[@candidlyvivian]

it does seem quite high right? I got my info from the ABS: "Median employee earnings was $1,300 per week, up $52 (4.2%) since August 2022"

[@hijazzains]

​@@candidlyvivian so half of Aussue earns less than $1300 per week.....

[@candidlyvivian]

@@hijazzains yup that's correct

[@andrew1470]

90k average?! What no way. That is inaccurate information. 55 to 65 is what most get

[@candidlyvivian]

www.abs.gov.au/statistics/labour/earnings-and-working-conditions according to the ABS it’s the median of all full time employees 😱

[@andrew1470]

@@candidlyvivian doesn’t sound right, does it?

[@candidlyvivian]

​@@andrew1470 i did initially think it was quite high but also given cost of living + inflation since covid, it is reasonable. remember this is also the median salary of ALL full-time workers industries like mining + banking also pay a lot of $$

[@JayShuun]

@@candidlyvivian how much of the population work in part-time/casual? would this skew the data?

[@dl4871]

Confirm the figures are true, from 30 years experience living in Sydney.

[@candidlyvivian]

thank you for confirming 🙂

[@johngodden4363]

Moral of the story sweetie is not to choose to live in Sydney or Melbourne if money is an issue. There are plenty of other cities and towns which are very affordable and where you can still enjoy the Australian lifestyle and earn a good living. Life is about choices.

[@candidlyvivian]

yes definitely a good idea! I would if all my family + friends weren't here :)

[@cambodialife3983]

Costs under US$10,000 a year to live a simple lifestyle in South East Asia if your not a drug adduct or alcholic or have spoilt spending or wasteful habits. Thailand, Philippines, Cambodia, Vietnam. I do it for about US$7000 a year with an asian wife and dont rent as we own. Have 2 motorbikes for transport in the favourable climate, have internet and AC, meat veggies and fruit are real cheap, and so is eating out. Its not for everyone and more suited to people with lay back lifestyles and patience and tolerance to adapt to the culture change.

[@candidlyvivian]

SEA sounds like a dream :')

[@majinboo6377]

if ure a lifters or gamers, australia is not ur place. if ure immigrant, u do a job and get paid 15 an hour (mostly) with high cost living (weekly rent is crazy expensive unless u want to live in dirty homestay cramped with others in one room) and no time for entertainment or me time cause ure slaving away from morning to night.

[@candidlyvivian]

Agree - cost of living is actually so crazy these days + all these interest rate rises… 😱

[@JohnnyBeitia]

"PANAMÁ 🇵🇦 RELOCATION TOURS!! WITH JA CKIE!!😊 🙋👍❤️👈"

[@MortivationNation]

Australia is just so expensive since after covid, its a joke. Going to be a terrible place to live over the next few years.

[@candidlyvivian]

I completely agree - Sydney in particular is so expensive

[@JohnnyBeitia]

"5 REASONS TO GET PANAMÁ 🇵🇦 RESID ENCY!!😊 🙋👍❤️👈"

[@traiii]

2200 a month is robbery.

[@candidlyvivian]

i agree it is daylight robbery - better off buying a place + renting that out, the $2200 can cover the mortgage

[@cheekmeat]

CBA’s head of Australian economics, Gareth Aird, said on Tuesday that not only were further rate rises now a “near‑term risk”, but any cuts will also come slower than previously expected. Most of the expected cuts will likely be pushed back to 2025, he said. He explained that strong population growth, driven by net overseas immigration, has put pressure on the Consumer Price Index. “Most notably the housing‑related components,” Mr Aird wrote. “As a result, demand is stronger and so inflation is falling less quickly than otherwise.” Meaning immigration is the problem! You lot need to stay tf away

[@candidlyvivian]

was right there with you until the last sentence 😂

[@cheekmeat]

@@candidlyvivian literally over 700,000 people came in last year and thats why everything is priced out the wazoo. People running from their governments poor decisions instead of standing up to it like theyre responsible to. Leaving the poor behind in their own homeland and destroying the housing market for my childrens future. Its disgusting and I think more people need to be aware of this perspective

[@twigglee]

yeah Sydney just keeps getting more and more ridiculous to live in 🥲

[@candidlyvivian]

i know T_T

[@ryhchoi]

All the inflation is coming from money printing via reckless govt spending