Shock cost of living in Australia’s cities revealed

Queensland is home to both the nation’s most and least affordable cities, according to a new cost of living study.

Townsville in the state’s far north took the title of the cheapest place to live, while the Gold Coast came in last, with Glitter Strip locals left with the least disposable income after covering everyday expenses like rent, food and power bills.

Sydney – home to the nation’s priciest real estate and largest population – lagged, coming in at only 8th place among Aus’ least affordable cities.

The Harbour City was behind Logan in Brisbane’s south, known for its relatively cheap house prices and young demographic.

Ray White Townsville managing director Giovani Spinella with seller Glenys Rowe. The city was the most affordable place to live. Picture: Evan Morgan

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The analysis by StandOut Resume crunched the costs of rent, utilities, public transport and groceries in the 20 biggest capital and regional cities.

Those costs were then compared with the local median net income to determine where wages went the furthest.

It found Townsville residents had $27,442 leftover income annually after basic living expenses, while on the Gold Coast that amount dropped to $10,127.

Canberra and Geelong were the second and third worst major cities for affordability, with $14,978 and $15,166 remaining income respectively, while Rockingham, WA and Launceston were next affordable, at $26,887 and $25,664.

The Gold Coast was the least affordable

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Melbourne came in as the fifth most affordable city, with $24,078 leftover, Perth sixth ($27,171), Hobart eighth ($19,781) and Brisbane ninth ($19,724).

Also among the top ten most costly were Cairns ($15,365), Darwin ($15,550), and Adelaide ($15,906).

StandOut Resume director Andrew Fennell said Townsville residents benefited from a relatively high average local salary of $56,858 after tax, with just over half of that sum spent on the basics.

The city also has the third lowest monthly grocery bills ($460), the fourth cheapest gas prices ($766 per year), and the fifth lowest rent ($364 per week).

Haley Berryman and John Watt rented on the Gold Coast after moving from Melbourne. Picture: Jerad Williams

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Gold Coasters, meanwhile, spent a whopping 79.1 per cent of their $48,447 net salary on rent, electricity, gas, internet, public transport, and food, leaving them with just $10,127 to play with.

“This metropolitan region in Queensland was named the Gold Coast due to over-inflated prices of real estate and goods in the 1950s. And it seems that the name is still just as relevant, more than half a century on,” Mr Fennell said.

Gold Coast’s median rent of $536 ($27,893 a year) was the second most expensive in the study after Sydney, tied with Canberra.

Sydney has the priciest rentals, but was not the least affordable city to live

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“Australia has the 13th highest average salary in the world. This may sound good on paper, but considering that the country also has the tenth highest cost of living, you may not find your money stretching that far in day-to-day life,” Mr Fennell said.

“The average take-home salary varies significantly across the country, but just because somewhere, like Perth or Melbourne, for example, has the most generous salaries doesn’t mean you’ll necessarily be better off living there.”

Across the 20 cities analysed, 64.3 per cent of average net salary ($53,541) goes on basic living expenses (rent, electricity, gas, internet, and food), leaving $19,124 spare.

Nationwide, the study found 43.2 per cent of the average net income was spent on rent alone ($23,105 annually, or $444 a week).

Basic costs like groceries varied between cities

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TOP 10 MOST AFFORDABLE AUSTRALIAN CITIES

1. Townsville, Qld

2. Rockingham, WA

3. Launceston, Tas

4. Wollongong, NSW

5, Melbourne, Vic

6. Perth, WA

7. Ballarat, Vic

8. Hobart, Tas

9. Brisbane, Qld

10. Bendigo, Vic

Logan, Qld has cheaper housing, but residents were left with less in the kitty after living costs

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TOP 10 LEAST AFFORDABLE AUSTRALIAN CITIES

1. Gold Coast, Qld

2. Canberra, ACT

3. Geelong, Vic

4. Cairns, Qld

5. Darwin, NT

6. Adelaide, SA

7. Logan City, Qld

8. Sydney, NSW

9. Newcastle, NSW

10. Toowoomba, Qld

* source: StandOut Resume