Oz cities climb the cost of living list
Oz cities climb cost of living list
By Maria Hawthorne
AUSTRALIAN cities have jumped up the list of the world's most expensive places to live, a new survey has found.
Sydney climbed 17 places to No. 55 and Melbourne soared 20 places to No. 61, ahead of Hamburg, Montreal and Riyadh.
The placings were worked out in an Economist Intelligence Unit worldwide cost of living survey released in London.
Brisbane and Perth were tied in 78th place, up from 96th and 94th respectively 12 months ago, while Adelaide rose to 85th place from 98th last June.
EIU analyst Bill Ridgers said the rise was due to other cities becoming cheaper, rather than Australia getting more expensive.
"Australia hasn't changed that much over the past year but other cities have fallen," he said.
South American cities had been affected by the collapse of Argentina's economy, while the cost of living had fallen in countries using the euro because it had devalued over the past year, he explained.
The collapse of the Argentinean peso sent Buenos Aires plummeting from 22nd to 120th place, while euro weakness pushed Paris down three places to 17th.
Mr Ridgers said Australians would not notice the change but visitors would.
"Anybody visiting Sydney from Europe will notice it's become a little bit more expensive," he said.
"They'll still find it very cheap but they may notice that last year their money went a little bit further."
Tokyo, Osaka and Hong Kong remain the most expensive cities in the world, while Zimbabwe's capital Harare has soared to 4th place from 120th as a result of the government pegging its dollar to the US currency despite 100 per cent inflation.
Sweden's Oslo, and Libreville in Gabon, Central Africa, round out the top 10 with New York, Zurich, London and Chicago.
Johannesburg, Pretoria and Tehran were the cheapest cities to live in.