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Cost of Living in Melbourne: What People Need to Know

Cost of Living in Melbourne: What People Need to Know

Melbourne is a great city in Australia. It has a lot of different cultures, yummy food, and pretty buildings. Lots of people want to live there. If you’re thinking about moving there for a job, school, or a new beginning, it’s important to know how much it costs to live there. This guide will help you understand the Cost of Living when you move to Melbourne.

1. Housing Costs

 

Rental Market

Finding a place to live is often the biggest expense. House rental rates in Melbourne vary considerably depending on where you want to live and the type of accommodation you want. For instance, one can expect to pay, on average, AUD 1,800 per month for a one-bedroom apartment in the city center and AUD 1,400 for the same outside the city center. Shared accommodation will cost less. You may find room rentals starting around AUD 800 per month.

Buying Property

If you want to buy, then be ready to pay those expensive prices. The median house price in Melbourne is about AUD 900,000, while apartments average around AUD 600,000. First time home buyers should look to suburbs like Werribee or Melton for more affordable options.

2. Utilities and Household Expenses

Electricity, Gas, and Water

Utilities in Melbourne will likely run around AUD 200 to 300 monthly, depending on how a person’s household is being run. To save on these costs, consider energy-efficient appliances and practices such as turning off lights when they are not in use.

Internet and Mobile Services

Internet plans also cost an average of AUD 60–100 per month. Popular providers in the country include Telstra, Optus, and TPG. Mobile plans vary, but a standard package should cost around AUD 40 to 60 per month.

3. Transportation Costs

Public Transportation

Melbourne has an extensive public transport system, including trains and buses. A Myki card is required for public transport. Monthly passes cost approximately AUD 150 for unlimited travel to and around certain areas. The system of public transport is very reliable; you could do very well without the hustle of driving in the city.

Owning a Car

If you prefer driving, consider the costs of car ownership. For a mid-range car, this actually costs around AUD 25,000. Registration per year costs around AUD 800, and possible insurance is around AUD 1,000 to 1,500. Fuel costs are around AUD 1.50 per litre, and parking in the city might take the most from your money, as it goes up to AUD 50 per day.

4. Groceries and Dining Out

Grocery Costs

Grocery shopping in Melbourne is cheap with smart shopping. On average, a person is likely to spend between $400 and $600 a month on groceries. Some supermarkets involving students in Melbourne are Coles, Woolworths, and Aldi, which offer products at much-discounted rates. Visit local markets such as Queen Victoria Market to purchase fresh produce at a reasonable price.

Dining Out

Eating out can range from affordable to high-end experiences. A cheap restaurant meal costs around AUD20, while an average three-course meal per head at a middle-range restaurant costs about AUD60. Melbourne has a wide range of foods from around the world.

5. Healthcare Expenses

Medical Services

The Australian government provides a public healthcare system called Medicare, which covers many basic medical services. Still, private health insurance might cover more expenses. Public health care is free and cheap based on the factor of the amount, and private insurance may range from AUD 100 to 300 per month, depending on the coverage.

Pharmacy and Medication Costs

Prescription medication varies in price, but with Medicare, the cost is likely to be within the range of AUD 10 to 40 for the most common medications. Most non-prescription items and health supplies will also add to your monthly costs.

6. Education Costs

Schooling for Children

Public schools in Melbourne are free. Still, in most cases, there are some additional expenses like school uniforms, supplies, and excursions. Private schools can be expensive, ranging from AUD 5,000 to 30,000 annually depending on the school.

Higher Education

The university fees for local students are highly subsidised by the government, albeit easily still ranging between $6,000 and $10,000. International students pay significantly more, often between AUD 20,000 to 45,000 per year. Scholarships and financial aid are available to help manage these costs.

7. Entertainment and Leisure

Recreational Activities

There are a number of recreational activities happening in melbourne. A cinema ticket costs around AUD 20, and a gym membership costs about AUD 50-100 monthly. The membership to a sports club or other recreational facility will be in the range of AUD $300-600 per year.

Cultural Events

Melbourne is rich in events for culture lovers. The ticket price for a theatre performance or concert generally varies in the range of 50 to 200 AUD. Importantly, the city also hosts numerous events free or at low prices, which include street festivals and public exhibitions; this allows one to enjoy the city at low expenses.

8. Miscellaneous Costs

Clothing and Personal Care

Clothes will see you go high and low, all depending on your taste and liking. However, the least for an ordinary outfit available at a mid-range store can cost you around AUD 100 to 200. For personal care, say for haircuts, you will be spending around AUD 30 to 80, depending on the stylist.

Miscellaneous Services

Do not forget other miscellaneous services, such as dry cleaning at a cost of AUD 5 to 15 per item, pet care at AUD 30 to 50 per visit, and domestic help at a rate of AUD 20 to 30 per hour.

9. Tips for Managing Living Costs

Budgeting Strategies

Make a decent budget that will help you manage your expenditures. Write down what you spend and categorise those expenses to allocate some room for saving or for incidental costs.

Savings Opportunities

Make the most of discounts, from student discounts to early bird specials to loyalty schemes. Sales and discount codes can help you save a lot on your costs.

Community Resources

Use community resources such as libraries, community centres, and affiliated community groups. Most have many free or low-cost services and activities, so your overall living costs can decrease as you integrate into the local community.

Conclusion

It is important to understand the cost of living in Melbourne for any person intending to move into this lively city in the future. Proper planning eases the burden despite most of the costs being on a higher scale than in other cities. Exploring many suburbs, using the public transport system, and taking advantage of local resources and savings opportunities can allow you to enjoy everything Melbourne has to offer without much spending.

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