We’ve already written about Perths high rental prices. Now the Western Australia capital is is the spotlight again with Perth now ranking as Australia’s most expensive city and the eleventh priciest to live worldwide.
Numbeo, a website that claims to collate the world’s largest database of user-contributed data about cities and countries worldwide, now rates the West Australian capital more expensive than Darwin, Sydney, Canberra and Melbourne for consumer goods, including groceries, restaurants, transportation and utilities.
Not only that, but the list also christens Perth as the second most expensive city in the southern hemisphere behind Luanda in Angola, with the rest of the top ten taken up by cities in Switzerland and Norway – with Stavanger classed as the most expensive place to live in the world.
Australian Property Monitors’ senior economist Andrew Wilson said the data about Perth is not surprising, given the city’s rising rental market saying:
Our latest data shows, contrary to what’s happening in most other capitals, Perth keeps on keeping on in terms of rental growth..In fact, Perth has recorded double figure rental growth over the last year, both in housing and in units. We really have had a lot of construction over the last few years and I guess that’s the issue now, people are struggling to find places to live. I don’t think there’s any short term relief. The one positive is low interest rates are encouraging particularly first home buyers into the market.
The Numbeo index, which is updated weekly, is based on a worldwide comparison of prices compared to those in New York City.
Perth now rates at 121.99, making it 21.99 per cent more of an expensive place to live than New York. Ouch!!