In the list of the world's most expensive cities published by the Numbeo, Sydney rose to 32 from 41 a year ago and Melbourne to 64 from 77 a year ago.
The list is based on the cost of living in New York, with the highest cost of Hamilton's life in Bermuda, almost 145 per cent in New York,91 per cent in Sydney and 85 per cent in Melbourne.
Specifically, Sydney is charged A $1922 a month for childcare, Melbourne A $1343 and New Yorkers A $2158.
One-bedroom apartments in downtown Sydney cost A $2619 a month, while one-bedroom apartments in downtown Melbourne rent A $1746 per month, A $2870 in London and A $3881 in New York.
In terms of rent alone, Sydney is the 16th most expensive city in the world, while Melbourne ranks 68. 5%. Prices for urban apartments are A $13212 per square metre in Sydney, A $8603 per square metre in Melbourne, A $16750 in New York and A $22731 in London.
If you want to buy a Toyota Carola sedan, Sydney costs A $24495, Melbourne A $23507, New York A $25811 and London A $34562.
Sydney ranked 52nd and Melbourne 72nd in terms of food and groceries costs. The two cities put Adelaide, Perth, Hobart, Canberra and Brisbane behind.
Of the 540 cities surveyed, restaurants in Sydney and Melbourne were priced at 137 and 135, respectively. Australia's cheapest restaurants appear in Keynes and Gold Coast.
Canberra is more attractive than salary, income and cost. Canberra is also ranked 41st among the world's most affordable cities with an annual income of 39% higher than New York residents. Melbourne ranked 103rd and Sydney 141.
Numbeo Major Australian City data
Cost of living, most expensive: Sydney; cheapest: gold Coast
Rent, most expensive: Sydney; cheapest: Keynes
Groceries, most expensive: Sydney; cheapest: gold Coast
Restaurant, the most expensive: Darwin; cheapest: Gold Coast
Standard of living, highest: Canberra; lowest: Hobart