How much does it cost to live in Australia? 

Collaborative database Expatistan estimates the current cost of living in Australia is $5,082 per month for a single person or $8,832 per month for a family of four to live in Australia. Crazy, right???

And this is just for the bare essentials like food, rent or mortgage, insurance, transport and healthcare. Add on top of this the fun stuff and no wonder we feel like we're always in the red! 

This puts Australia near the top of the charts when it comes to the most expensive country to live in based on cost of living. Australia is currently ranked 8th out of 61 countries when it comes to the cost of living. 

Of course, there’s plenty of pros to living in Australia that make up for the crazy high cost of living in 2024 including the laid back lifestyle, the lovely weather (most of the time) and the opportunities. 

How Much Has the Cost of Living 2024 Gone Up? 

In 2024, pretty much everything has gone up. Grocery costs. Insurance rates. Fuel and electricity. Mozo predicts the cost of living has increased by around 2.8% this year alone. 

The average rent in Australia has risen significantly over the past two years thanks to a combination of tight supply and landlords passing along RBA rate hikes. According to Mozo, you can expect to pay $650 in rent per week for a house in one of Australia’s capital cities. This number decreases to $630 for a unit in a capital city. In regional Australia, the median rent for a house is $550 per week. 

Home loans have also soared, bringing the cost of living in 2024 even higher. The official cash rate was 0.10% in May 2022. Now in October 2024, it's 4.35%.

Relocation Trends Continue in 2024

One of the trends we’ve seen in the removals industry is that many families are looking to move regionally to help cut the costs of living 2024. This has been a trend since the pandemic and doesn’t appear to be slowing down anytime soon. 

Regional NSW and regional Victoria attract most city movers while the Sunshine Coast was the nation’s most popular destination for movers. Other regional hot spots include Albany, Bunbury, Northam, Bega Valley, Lake Macquarie, Greater Geelong, Eurobodalla Moorabool and the Gold Coast. 

According to the Regional Movers Index in the last June quarter, 27 per cent more people moved from cities to regional Australia than in the other direction.

And over the course of the year there was a new flow of 11.2 percent of movers heading from cities to the regions.The main reasons for moving include reducing the cost of living, relocating for work or for a lifestyle change and looking for more affordable housing. 

Cost of Moving in 2024

Packing up your bags and moving to a regional area may sound like a great way to cut down on the costs of living 2024 and beyond, but a big interstate move needs to be budgeted. Many people are unaware just how pricey an interstate move can be, especially when moving to a regional area. 

One of the things we specialise at Best Rated Transport is helping you secure the best rate for your interstate move, even when moving regionally, by comparing various removalists and moving options. We can coordinate the logistics of your move on your behalf and assist you in finding the right mover for you, whether this is a full-service removalist or pack-yourself container transport. 

What’s the average cost of moving interstate?

Best Rated Transport estimates that the average cost of moving interstate sits around the $5,000 mark but there is a lot of leeway with this, depending on whehther you’re moving locally or interstate, whether you’re moving a one bedroom apartment or a five bedroom home, etc. 

Typical Interstate Removals Costs:

10m3 - $1,200 to $2,500

20m3 - $2,400 to $5,000

30m3 - $3,600 to $7,500

40m3 - $4,800 to $10,000

Typical Local Removals Costs:

10m3 - $240 to $270

20m3 - $400 to $1,200

30m3 - $480 to $1,440

40m3 - $4640 to $1,920

Typical Container Transport Costs: 

20ft Container (approx 30m3) - $1,200 - $3,000

40ft Container (approx 60m3): $2,000 - $4,500

Additional Costs of Moving 

Packing Supplies - $250

Disconnection and Reconnection Fees - $60 to $300

Storage (if needed) - $50 to $500 per month

Cleaning costs - $250 to $400

Bond costs - $3,500

Yard cleanup / Tip fee - $100

Transport costs (fuel or air travel) - Price varies depending on situation 

In some instances, you may be eligible for a rebate on the costs of moving 2024, especially if you are moving for school (student relocation) or moving for work (relocation packages). 

If you are looking to move in 2024 or 2025, give the team at Best Rated Transport a call and let us do the price comparisons on your behalf. We will strive to find you the best rate on your interstate move.