If your heart is set on moving  Down Under on a permanent basis, don’t let horror stories about the cost of living in Australia put you off.

In the past few years, Aussie cities have regularly featured in the top ten of Global Cost of Living Indexes, but times have changed. Indeed, the latest Cost of Living Rankings report produced by Mercer – which was published in July 2014 – showed that Melbourne, Sydney and Perth have slipped way down the list of most expensive cities.

What has happened?

According to Mercer, the local currency has depreciated against the US dollar, and this has had a dramatic impact on overall costs.
The organisation stated that Australia witnessed some of the most significant falls in the worldwide league table, with Sydney and Melbourne dropping 17 places each to 26th and 33rd respectively, while Perth dropped by 19 spots to 37th.

We told you so!

We’ve been saying for a while now that many people have the wrong idea about the cost of living in Australia and finally we have some statistics to back up our claims.

I recently travelled back to the UK for the first time in a while and I was shocked to see that prices in England and Australia are more or less the same these days. In fact, there are certain essentials that I can buy far more cheaply in the latter, such as fuel.

While I wouldn’t class a Subway sandwich as an essential, it’s worth noting that I usually pay around $7 for a meal deal in Australia, which works out at around £3.94. This is just one tiny example of how the cost of living gap between Australia and the UK and Ireland has narrowed considerably in the past year or so.

Also, you need to consider that if you rent a house Down Under, you don’t have to pay council tax, there is no TV licence fee and vehicle insurance is generally far cheaper on this side of the globe. Were these things ever taken into account when companies were calculating the overall cost of living? I have my doubts.

It’s easy to lead a varied, fulfilling lifestyle in a beautiful Australian city without worrying about falling into crippling debt. Remember,the sun shines a lot more here, so you can partake in more outdoor activities, many of which are free of charge.

In short, the message we want you to take away from this is that yes, the cost of living in Australia has been higher than the UK in the not-too-distant past, but things have changed and it would be a massive shame for you to miss out on your lifelong dream of relocating to Australia because you are worried about money.