What Is The Cost Of Living In Sydney: Relocation Guide

Dec 15, 2022 Renowned for Sydney Opera House, Bondi Beach, Sydney Harbor Bridge, stretched forests, gardens, and culinary delights, the capital of New South Wales is a fascinating place to live and raise a family. It is Australia’s most expensive city because the housing supply is not keeping up with the population’s growing demand. A lack of land release is also one of the major reasons behind whopping property prices in Sydney. Despite this, people are moving from different cities and countries- thanks to an excellent education system, high-end amenities, world-class healthcare facilities, top-rated universities, robust economy, well-established commercial sector and much more. If you are considering booking removalists Sydney for the utmost safety of your possessions, you might be curious to know more about the city’s cost of living.

What is the Meaning of the Cost of Living?

The cost of living is usually the sum required to cover basic spending, such as house rent, EMIs, food, taxes, transportation, shopping and healthcare in a specific place and time period. Calculating the cost of living can help you know how expensive it is to live in a certain city. There is no denying that Sydney is the most expensive city in the world. But, people want to indulge in the luxurious lifestyle and leverage the benefits of high-end amenities. To simplify the process, we have broken down the budget basics and helped you calculate the expected cost of basic amenities or necessities.

Living Expenses in Sydney, NSW

According to the stats, the estimated monthly costs of a family of four are $5,613 without rent, while a single person’s estimated cost is $1,542 per month. The cost may increase or decrease depending on your lifestyle and spending. Whether you want to live in an inner city or move to the outskirts, make sure you create a complete budget to know the cost of living. It is important to know the cost efficient way to move, when doing it for the first time. Here is a quick price guide based on a budget for one person living in the capital of NSW. Moving to small towns and suburbs can solve your problems if you are under a serious financial crunch. These areas offer affordable housing options along with great amenities, school catchments, and entertainment hubs. Let’s dig more, and know these basic expenses when living in Sydney: The median rent for a 1-bedroom unit in the inner-city Sydney apartment is around $2617.89 \per month.

• Electricity or gas is around $ 193.23 per month
• Groceries and food $568 to $610 per month
• Internet for 60Mbps $73.60 per month
• Public Transportation (light rails, trains and ferries) $16.80 per month
• Fuel $2.14 per litre (which keeps fluctuating)
• Dinner expenses $40 to $100

Quick Note: This is an estimated cost of living based on basic requirements if living in the capital city of New South Wales.

1. Housing and Rental Prices in The City

Buying a new house in the hotspots of Sydney is not easy at all. If you want to live in this well-developed city, you can look for rental properties that are affordable, spacious and close to the CBD. The median rent for a house is around $549 per week and $502 per week for a unit. Inner city or places close to the CBD are much more expensive than outer suburbs. If you are planning to live in a rental property close to the CBD, be prepared to pay:

• $2,618 for 1 bedroom apartment
• $4974 for 3-bedroom apartment

Outer suburbs are comparatively cheaper, especially the south and west of the city. However, you can’t overlook the transport and accessibility if you are working or studying in the Central Business District.

• The average rent for a 1 bedroom apartment in suburbs is around $1,884.39 per month.
• The median rent for 3 bedroom apartment is $3158.56

If you have a dream of buying a new abode in the hotspots of Sydney for your family, you can take a deep insight into the property market and current prices:

• The average price of a city dwellings is $1,025,684
• The median price of city houses is $1,243,126
• Unit prices in Sydney are $781,663
• Regional dwellings $699,526

It is good to prepare everything ahead of time and encourage your kids for a house move for a smooth and damage free relocation.

2. Utility Expenses

These are the basic elements when calculating the cost of living in a new place. When relocating to a new place, it is important to have hassle-free access to electricity, water, cable and internet connectivity. Make sure you transfer your utility services before the arrival of Sydney removalists. When it comes to the cost of basic utilities, you need to understand that Sydney is the capital city of New South Wales and living in such a developed city is always expensive. Here is the list of basic utilities with their average rates:

• Electricity = $193.23/per month
• Internet plan for 60 Mbps or unlimited data =$74/ month
• ¼ gallon of gas = AU $1.98
• Water usage = $2.50 / per Kilolitre

Add these expenses in your checklist to get the accurate cost of living in your favourite city.

3. Transportation Cost

When it comes to public transport in Sydney, pay attention to the opal Card, used to travel on light rails, trains, ferries and buses. The fares of these carts are calculated at $50 per week. The average cost of a one-way ticket is $4.5and the regular basis is $217.40. If you have a personal vehicle, be ready to pay $2.14 for fuel. It is always good to look for suburbs where you can easily access public transportation, such as ferries and buses.

4. Child Care and schooling

Kindergarten and daycare range from $96-$180/ per day and raise up to $470,000 per year depending on the location, facilities and other key features. In addition, some private and independent school fees can be around $30,000 to $35,000 per year. Catholic schools are comparatively less expensive but are still around $15,000 per year.

5. Grocery Expenses

The estimated cost of groceries is expected to be around $609.60 -$650.24 per month for a single person. Believe it or not! Groceries are more expensive on average in the capital of New South Wales. The average cost is:

• Milk (1L) – $1.72
• Apples (1kg)- $4.36
• Bananas (1kg)- $3.76
• Bread (500g) – $3.10
• Eggs (12) – $4.89
• Potatoes (1 kg) – $3.44
• Tomatoes (1 kg) – $6.27
• Chicken breast (1kg ) -$11.50

6. Dining Out Expenses

Do you love exploring different cuisines and delicious delicacies? If yes, then must include the cost if you love eating out:

• You may need to pay around $43 for 2 meals in an inexpensive restaurant
• Mid range restaurant may cost around $110 for 3-course meal for 2 people.

7. Clothes

You can’t overlook the expenses of clothing when living in Sydney. The median cost of a couple of common clothing:

• Summer dress – $73.15
• Nike Shoes $154.05
• Pair of jeans – $100 to $115

8. Entertainment Expenses

Sydney is best known for its museums, adventure spots, clubs and bars, restaurants, shopping complexes and PVRs. Here are some common entertainment costs are: Bar and club

• The average Cover Charge is around $25
• The median cost of domestic beer is $8.20
• Imported beer $ 20.50

Live Shows, events and sports

• International act- $ 150 – $300
• Local Gigs – $20- $60
• Dance/Theatre $60-$70
• Sporting match $60-$80

9. Fitness and Health Services

The average membership of a gym is around $87/month. You can also join swimming or any sport to stay fit.

Conclusion

Calculating the cost of living before relocating to a new city makes a huge difference. Keep these points in mind and stay organised throughout the process. If you are moving to the capital of NSW, hire the best removalists Sydney for the safety of your household belongings throughout the process.