Zurich remains the world's "most expensive city", with residents spending an average of $4260 a month regardless of high rents, according to UBS (UBS) 's latest ranking of the cost of living in 77 major cities around the world.
Sydney's cost of living ranks 11th in the world, with wages ranking 16th. As a result, Sydney still ranks 13th in the world in terms of purchasing power despite high house prices.
Look around the world. Zurich is the world's most expensive city, but the purchasing power of residents ranks second in the world, thanks to higher wages and lower taxes.
In terms of rent ranking, unexpectedly, Hong Kong topped the list with a maximum monthly rent of $4000, followed by New York and Paris.
At the same time, UBS research also found that Hong Kong is the best place for millennials to buy the necessary equipment, including iPhone, laptops and Netflix services.
In terms of purchasing power ranking, Los Angeles people have the strongest purchasing power. That's because the average disposable income of the population is the 10th highest in the world. In the world's 20th-highest price city, high wages offset the effects of high prices.
Back in Australia, how expensive is Sydney, the 11th most expensive city in the world?
One-bedroom apartments rent A $2619 a month in downtown Sydney as of February, compared with A $1746 in downtown Melbourne, A $2870 in central London and A $3096 in New York, according to Numbeo.
So expensive is Sydney's rent that it ranks 16th in the Numbeo World Rent ranking, well above Melbourne's 68th.
Apartments in central Sydney sell for A $13212 per square meter, compared with A $8603 per square meter in Melbourne, A $16750 in New York and A $22731 in London.
For social welfare recipients, life is even more challenging because income is limited and the cost of living is increasing. In addition, whether rent or pay mortgage, the rise in house prices will have a part of the impact. The only thing that won't rise is wages. Now, Australians spend almost most of their wages on accommodation.
In addition, volunteer data collected from the website showed a monthly childcare fee of A $1922 in Sydney, A $1343 in Melbourne and A $2158 in New York.
Toyota or equivalent sells for A $24495 in Sydney, A $23507 in Melbourne, A $25811 in New York and A $34562 in London.
In terms of food and grocery costs, Sydney ranked 52nd in the most expensive cities, while Melbourne ranked 72nd. Sydney is undoubtedly more expensive than Keynes and Darwin, while Sydney and Melbourne are more expensive than Adelaide, Perth, Hobba, Canberra and Brisbane.
In addition, restaurant prices in Sydney and Melbourne were higher than those in 540 cities surveyed, at 137 and 135 respectively. And the cheapest Australian restaurants are in Keynes and Gold Coast.
Eating a McDonald's McMeal or going to a fast-food restaurant at the same price will cost about A $10 in major cities around the world.
Canberra has become Australia's most attractive city for wages. At the same wage, Canberra can buy 39% more goods than New York.
< Numbeo City Index
Cost of living
Australia's most expensive: Sydney
Cheapest in Australia: gold Coast
Rental room
Australia's most expensive: Sydney
Cheapest in Australia: Keynes
Food and groceries
Australia's most expensive: Sydney
Cheapest in Australia: gold Coast
restaurant
Australia's most expensive: Darwin
Cheapest in Australia: gold Coast
living standard
Highest in Australia: Canberra
Lowest in Australia: Hobart