Australian cities 'offer good value for money'

Australian cities offer the best value for money for expatriates living and working in the Asia-Pacific region, a new study has found.

Mercer’s Worldwide Cost of Living Survey 2010 looked at the comparative cost of more than 200 items including housing, transport, food, clothing, household goods and entertainment, the AAP reported.

It found that cities in Australia and New Zealand were more competitive destinations for global workers than other Asian cities like Tokyo, Osaka, Hong Kong, Singapore and Beijing.

The news may interest Australian residents wishing to compare savings accounts and other financial products in the country. Commenting on the findings, Mercer senior associate Anthony Shippard urged companies to consider general living standards when thinking about the true "value of living" in cities.

"Combining the cost of living findings with overall quality of living standards reinforces the need for multinational organisations to regularly review multiple external factors and data shifts when determining their expatriate management programs," he said.

Earlier this week, the latest Global Property Guide showed that Australia recorded the fourth-largest property price increase during the year to March 2010.

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