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Australia cities become more expensive

Sydney ranked behind Tokyo and Osaka, when 10 years ago no Australian city would have made top 50.
Last Modified: 16 Mar 2013 21:31

With unlimited money, it is easy to lead the good life in Australia, but that lifestyle is getting more expensive. The average price of an Australian house is around $500,000 - double the figure for the US or in Europe.

The furniture store Ikea sells identical items for 70% more in Australia than in the US. No wonder Sydney has just been ranked the world’s most expensive city outside Japan.

Why? Partly, because most Australians can afford it. Helped by high prices for commodities it exports, Australia’s economy is relatively strong.

Al Jazeera's Andrew Thomas reports from Sydney.

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Source:
Al Jazeera
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