Sydney, Australia’s largest city is home to about 5.3 million people. This diversified and multicultural city is well-known for its exemplary landmarks such as the Sydney Opera House and Harbour Bridge but has a lot more to offer. Sydney is considered Australia’s most expensive city to live in, so planning ahead, setting financial habits, and choosing realistic living choices will set you up for success. We have organized everything you need to know about the cost of living in Sydney and budgeting for your big move, incorporating average costs of accommodation, transport, entertainment, etc in Sydney, Australia.
Sydney is home to the top five universities with a global reputation, with two of them ranking among the top 50 universities globally. Attracting over 35,000 international students to live and study, though this might be a more costly option, studying in Sydney could ensure you a degree that you can count on.
Cost of Accommodation
The average cost of living on campus at a university in Sydney ranges between $665 – $1000 per week. Campus accommodation is by far the most expensive option available, but also comes with a lot of benefits and convenience. Living on campus does not only mean that you wake up daily on the university’s doorstep but also you save money on several other expenses such as food and transport.
This advantageous option means having your meals cooked for you every day, utilities included and you will most likely be traveling less than you would be if you lived off-campus. Though, you will still need to budget for some extra costs such as eating out, health costs, your phone bill, and entertainment.
Get a similar experience to living on campus but at a more affordable price. Commercial accommodation for students is divided across Sydney’s CBD. Student Accommodation such as UniAcco provides great options if you want to stay somewhere in the city center and with other like-minded students.
The cost will vary depending on your room choice, however, it’s important to remember this only includes your rent and provides several different communal amenities and room facilities including utility bills and much more. However, Food, entertainment, phone, and health costs need to be taken care of by yourself.
Sydney residents usually prefer public transport such as trains, light rail, ferries, and buses having easy access to the Sydney CBD and top tourist spots. As a student, you may be eligible for travel concessions. On average a student Opal user that is a Sydney transport payment card will spend about $1,250 a year traveling 6 days a week compared with $2,000 for an adult.
However, if you aren’t eligible for concession fees you can always apply for a pass called MyMulti 3 pass. This pass saves a third of an adult yearly cost coming in at $1,540 annually. There are many transport options available for students easily and it won’t be a difficult task to travel from student accommodation to the University.
Food & drinks
Food is where budgeting gets tricky. With the rise of UberEats and MenuLog in Australia, it gets more difficult to save our pennies and cook or prepare meals at home. However, buying groceries and meal prepping is always considered the most cost-efficient method.
Eating out at a nice cafe or restaurant will cost you a significant amount, as the average prices of meals in Sydney are:
$18 for breakfast
$18 for lunch
$30 per meal for dinner.
Assuming you are bringing a laptop or iPad from home, you will just need to worry about your stationery costs. Officeworks and Kmart will be your best friends for budget-friendly stationery. You can get a range of great Notebooks and yearly dairies ranging from $3 – $50 and fancy stationery accessories from $1 – $10.
Overseas student health cover is essential for your student visa while coming to Australia. Not only is it great for peace of mind, but it also covers everything including doctors’ appointments, hospital costs, emergency, ambulance, and prescription medicine.
Entertainment is another expense you will want to consider while you are in Australia. Ranging from going to the gym, watching a movie, taking a trip to the beach, or enjoying a comedy show or a live event. There are a few different options you could add to your budgets such as Student movie nights ranging from $7 – $9, Fitness costs such as gym memberships from $15 – $30, and a ticket to a usual comedy show would cost around $50.
As there you have it all regarding the cost of living in Sydney, it’s time to start saving so that it can help you budget for your move to Sydney and you can spend big in the big city,