Sydney is Australia's most expensive city

Sydney has been confirmed as the most expensive Australian city for expatriates to live in.

The latest Mercer Cost of Living Survey has shown the metropolis is the 11th most costly place on the planet.

Melbourne is also becoming increasing unaffordable, as it moved up to 15th in the rankings.

Perth, Canberra, Brisbane and Adelaide all featured in the top 30, which shows just how expensive the country has become.

Mercer principal Nathalie Constantin-Metral believes people's bank accounts are being drained because of a lack of affordable accommodation across the nation.

"Demand for rental properties has increased significantly in all the Australian cities we rank. Coupled with very limited availability, the result has been very tight markets and increased prices," she remarked.

However, the cost of living down under is nothing when compared with Tokyo, which topped the poll. Luanda in Angola was rated as the world's second least affordable place to live, while Osaka came in third.

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