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Sydney is the 11th most expensive city in the world, according to the Web site expatistan.com, reports The Sydney Morning Herald. However, compared to London, the costliest city, Sydney is 25 per cent cheaper.
The Web site bases its rankings on the information from almost 200,000 respondents on average price of drinks, food and accommodation in 1,600 cities around the world. Gerardo Robledillo, the founder of the site, said its index is updated every time a user enters a new price for any city. He added the site gets between 500 and 1,000 new prices every day.
Also included in the calculation are prices of groceries, electronics, rent and other daily items.
However, Sydney may go up the list if the value of the Australian dollar would further fall, making the price of petrol and other imported items go up, said, Stephen Halmarick, head of economic and market research at Colonial First State Global Asset Management.
When compared to Auckland, New Zealand, Sydney is 28 per cent more expensive. By specific items, food is 10 per cent more expensive in Sydney, housing is 89 per cent higher, transportation 13 per cent, personal care 8 per cent and entertainment 11 per cent, but clothes are 3 per cent cheaper in Sydney.