Australia is still home to affordable towns, despite Sydney being named in the top 10 most expensive places to live in the world.
In regional parts of the country, a freestanding house with big yard can be rented for as little as $130 per week, while a three-bedroom cottage is available from $220 per week.
Economist Intelligence Unit on Thursday revealed Sydney is the 10th most expensive place to live, making it less affordable than New York and London.
Sydney has jumped four places in the past year, as the cost of living in the harbour city continues to climb.
Topping the list of the cheapest rentals in Australia is Queenstown, a small town on the west coast of Tasmania.
Home to under 2,000 people, two-bedroom rentals are regularly priced at as little as $130 per week.
Sitting second on the list is Calliope, six hours north of Brisbane, where a rental unit is just $155-a-week.
It’s closely followed by Miles, west of the Queensland capital, where you can snag a bargain two-bedroom home for $155.
Back to Tasmania, where homes in Strahan can set you back only $165-a-week.
A number of towns come in next on the list at about $200-a-week, including Morwell in south-east Victoria and Young, in central NSW.
Collie, three hours south of Perth, has rentals readily available for less than $250.
As does Murray Bridge, in South Australia, where the average price is $240-a-week.
AUSTRALIA’S CHEAPEST TOWNS
$130 – Queenstown, TAS
$155 – Miles, QLD
$185 – Somerset, TAS
$200 – Young, NSW
$220 – Collie, WA
$150 – Calliope, QLD
$165 – Strahan, TAS
$190 – Morwell, VIC
$200 – Wendouree, VIC
$240 – Murray Bridge, SA
Economist Intelligence Unit’s study revealed what Sydneysiders knew all too well, as the city jumped four spots higher on this year’s list of most expensive cities.
The study compared the prices of 160 services including food, clothing and rent making Singapore the most expensive place to live in the world.
New York dropped to 13th place, down four spots since 2017, while London came in at 30th making it the cheapest it has been in more than two decades.
It comes as Australia recorded a 14 per cent increase in homelessness from 2011 to 2016.