Money rules the world and some would even argue that money makes you happy. But have you ever thought about where in Australia do you have to live in order to earn the biggest net income? The answer will surely surprise you. It’s Canberra – the most lifeless and mundane metropolis in the entire country.
To begin with, Canberra is the city where people make the biggest average monthly salary, estimated at about $5,651. Close, but not quite there yet, we have Perth, with people there averaging a salary of $5,572, and Sydney, with an average salary of $5,069.
But the big net salary is not all there is to Canberra holding the prestigious title of being the number one city you can live in abundance. Compared to other metropolis cities, the property prices in Canberra are also relatively low. The average cost of a property in the capital is around $510,000.
The indicator in which Canberra gives way to the other major cities in Australia, is the average monthly mortgage. In comparison to the rest, only Sydney has a bigger average monthly mortgage repayment - $3,174, with Canberra and Perth following in second place with $2,380.
However, the mortgage repayment accounts for only 42% of the net average salary in Canberra. That percentage is lower only in Adelaide – 41, and in Hobart – 36.
The last, and probably most important indicator which puts Canberra on the top of the table is the money left over every month. Numbers show that when you draw the line at the end of each month, you’ll have the hefty $3,271 left in your bank account if you live in Canberra. Statistics on the other hand, put Melbourne with $2,387 and Sydney with $1,895 at the bottom of the table.
So having taken the data into account, it seems that Canberra is the place where you’ll be able let your hair down and splash some extra cash on some stuff. I personally, although living in Sydney (unlucky me … not), usually make ends meet and even have a few extra dollars to spend on other essentials, like cleaning services and a couple of restaurant nights out every week.
Now having seen the statistics, the question is would you rather live somewhere you make big bucks and have nothing interesting to spend it on, or make less but have a ton of great stuff to do? Now that’s what I call a classic first world problem.
