Cost of Living in Geelong in 2023

cost of living Australia report 2023

Cost of Living in Geelong,Australia in 2023

 

The cost of living in Geelong can vary depending on the location and lifestyle of the individual or family. However, Geelong is considered to have a relatively high cost of living compared to other countries.

 

The cost of living in Geelong,Australia in 2023 is affected by:

 

Housing in Geelong

 

The cost of housing in Geelong is quite high, especially in popular neighborhoods. Rent and mortgage payments can be expensive, and the cost of buying a home in Geelong can also be high. However, the cost of housing is more affordable in smaller neighborhoods on the outskirts of Geelong. The map below shows the areas around Geelong that are more affordable.

 

 

Groceries Cost in Geelong

 

Prices for basic items such as bread, milk, and eggs in Geelong are consistent throughout the country.

 

Transportation

 

The cost of transportation in Geelong can vary depending on the mode of transportation used. Public transportation is generally more affordable than owning and maintaining a car, but it may not be as convenient in some areas of Geelong.

 

Healthcare in Geelong

 

The cost of medical care in Geelong is high when compared to other countries. Geelong has a universal healthcare system called Medicare, which provides affordable access to medical services for all citizens and some permanent residents. However, some services may not be covered by Medicare. Under the Medicare system, most basic medical services, such as doctor visits and hospital care in Geelong are covered by the government, and patients are only required to pay a small fee for each visit, called the Medicare Levy.

 

Some medical services are not covered by Medicare in Geelong and can be expensive. For example, dental care and most prescription drugs are not covered and patients may need to pay for these services out of pocket. Additionally, some specialists may charge more than the Medicare rate.

 

Taxes

 

The local taxes in Geelong are relatively high, which can affect the overall cost of living. At a Federal level, Australia has a progressive income tax system, and sales tax (GST) of 10% is also applied to most goods and services.

 

Entertainment and leisure in Geelong

 

The cost of entertainment and leisure activities in Geelong,Australia such as going to the movies or dining out can be expensive compared to other Towns and Cities in the State, while others activities such as visiting national parks is still free in 2023.

Key Points

 

  • The cost of living in Geelong can vary greatly depending on location and lifestyle. Geelong has a higher cost of living compared to smaller towns.

  • Accommodation costs can be high in Geelong, with the average cost of rent for a one-bedroom apartment  being around $2,750 AUD per month.

  • Grocery prices in Geelong are higher than in many other countries, especially for fresh produce and organic items.

  • The cost of healthcare in Geelong is also high, with the majority of new immigrants opting for private health insurance to cover out-of-pocket expenses.

Cost of Schooling in Geelong in 2023

 

The cost of schooling for children in Geelong,Australia can vary depending on the type of school and location. Public schools in Geelong are generally free for Australian citizens and permanent residents, while private schools and international schools can be expensive.

 

In terms of public schools, the Australian government provides funding for schools in Geelong, which covers the majority of the costs associated with education. However, parents are still required to pay for uniforms, textbooks, and school excursions.

 

Private schools in Geelong are not funded by the government and rely on tuition fees and other income to operate. These schools tend to have higher tuition fees than public schools and can also have additional costs such as uniform and building fund.

 

International schools in Geelong are also not funded by the government and are targeted towards students from overseas. These schools have very high tuition fees and additional costs such as accommodation and transportation.

 

Cost of Schools in Geelong for new Immigrants in 2023

 

New immigrants to Geelong in 2023 may have to pay for school fees for their children, depending on the type of school they attend. Public schools in Geelong are free for Australian citizens and permanent residents. However, some public schools may charge additional fees for items such as uniforms, textbooks, and school excursions.

Cost of Food and Groceries in Geelong in 2023

 

The cost of groceries in Geelong such as bread, milk, and eggs compares consistently with most other Towns and Cities across Australia. Overall, the cost of groceries in Geelong is considered to be higher than in some other countries. Fresh produce, meat, and dairy products are expensive, while processed foods and snacks are more affordable. Some supermarkets and grocery stores in Geelong are considered to be more expensive than others, and it’s always good to compare prices across different stores to find the best deals. Many supermarkets in Geelong have loyalty programs to help you save money on your weekly shopping.

 

Another way to save money on groceries is by shopping at one of the many local farmers’ markets in Geelong, where prices for fresh produce are lower than in supermarkets. Buying in bulk and taking advantage of sales and promotions will also help you save money on your grocery bill.

Cost of Houses and Rentals in Geelong in 2023

 

The cost of properties and rentals in Geelong is considered to be high.  The median house price in Geelong is $648,000 million AUD in 2023. Prices in neighboring towns and cities are generally lower than Geelong.

 

The cost of renting a property in Geelong in 2023 ranges from $421 to $856 AUD per week. Prices are lower in other cities and smaller towns when compared with Geelong. The housing rental market in Geelong is dynamic, and prices fluctuate depending on a variety of factors such as interest rates, economic conditions, and local population growth.

The Cost of Eating Out in Geelong in 2023

 

The cost of eating out in Geelong is considered to be high. The cost of a meal in a casual dining restaurant in Geelong ranges from $18 to $39 AUD per person. A meal in a mid-range restaurant ranges from $38 to $80 AUD per person. In a high-end restaurant in Geelong, the cost of a meal can be upwards of $125 AUD per person.  Additionally, in Geelong, it’s common to leave a 10% tip at a restaurant. Some restaurants charge a surcharge on public holidays or on weekends.

Cost of Vehicles in Geelong,Australia in 2023

 

The cost of vehicles in Geelong is considered to be high, especially when compared to other countries. The cost of a new car in Geelong ranges from $30,000 to $100,000 AUD or more, depending on the make and model. Prices for used cars in Geelong vary greatly, with prices being lower than for new cars but still high. The cost of a used car in Geelong ranges from $5,398 to $52,578 AUD.

 

In addition to the cost of purchasing a vehicle, there are also other costs associated with owning a vehicle in Geelong such as fuel, insurance, maintenance, registration, and taxes. These costs can add up and can be significant. The price of gasoline (petrol) in Geelong is $1.73 to $1.84 AUD per liter in 2023. Diesel fuel is usually priced lower than gasoline.

Cost of Household Items in Geelong,Australia in 2023

 

The cost of household items and white goods in Geelong is high when compared to other countries. The cost of household items and white goods in Australia can vary depending on the type of product and the location. Overall, the cost of household items and white goods in Australia is considered to be high, especially when compared to other countries. The cost of white goods such as refrigerators, washing machines, and ovens are more for high-end brands.

 

Most new immigrants to Geelong consider shipping their household items and electrical goods to Australia when they relocate to Geelong, however the difference in electrical systems often makes this nonviable in the long term.

Will my Wages be Enough in Geelong,Australia to have a Good Life?

 

Wages in Geelong are high when compared to other countries, and the area enjoys a high standard of living.  The minimum wage in Geelong is $19 AUD per hour and average wage is $30-40 per hour, these wages can provide a good standard of living for many people, especially new immigrants to the area.

 

However, the cost of living in Geelong is high, and this can affect the ability of some people to maintain a good standard of living on a lower wage. The cost of housing, healthcare, education, and transportation in Geelong make it challenging for some people to make ends meet.

 

Wages may vary depending on the job sector, for example, the wages for professional jobs in Geelong such as doctors, engineers, and accountants are higher than wages for jobs in retail or hospitality. Overall, while wages in Geelong are generally considered to be high, they may not be enough to provide a good standard of living for every resident and new immigrant to the area in 2023.

Can New Immigrants to Geelong Buy Property in 2023

 

Yes, new immigrants to Geelong are able to buy houses in 2023. There are no restrictions on property ownership for immigrants in Geelong, and anyone, regardless of their immigration status, can purchase property in the country. However, like all home buyers, new immigrants to Geelongwill be subject to the same lending requirements and regulations as Australian citizens and permanent residents.

 

This means they will need to meet certain criteria to be eligible for a mortgage in Geelong, such as having a stable income and a good credit history. New immigrants to Geelongmay also be required to provide a larger deposit than Australian citizens and permanent residents.

Biggest Complaints about the Cost of Living in Geelong in 2023

 

The biggest complaints about the cost of living in Geelong is the high cost of housing, healthcare, and education:

 

Housing

 

The cost of housing in Geelong can be steep, and the cost of buying a home can also be high. This can make it difficult for some people in Geelong to afford a place to live.

 

Healthcare

 

Although Australia has a universal healthcare system, known as Medicare, which provides affordable access to medical services for all citizens and some permanent residents. However, some medical services in Geelong are not covered by Medicare and can be expensive. For example, dental care and most prescription drugs are not covered, and patients may need to pay for these services out of pocket. Additionally, some specialists and private hospitals in Geelong may charge more than the government-subsidized rate.

 

Education in Geelong

 

The cost of education in Geelong can be high, especially for private schools and international schools. This can make it difficult for some families to afford to send their children to school. Additionally, the cost of living in Geelong is affected by taxes and by the exchange rate, which can make it difficult for some new immigrants to afford the goods and services they need.

Which Items Cost Less in Geelong?

 

Items or services that are cheaper in Geelong include:

 

  • Food: Some food items such as fruits and vegetables can be relatively affordable in Geelong, especially when bought in season. Supermarkets and discount stores in Geelongoften have sales and promotions on food items, which can make them more affordable.
  • Clothing and Footwear: Clothing and footwear in Geelong can be relatively affordable, especially when bought on sale or from discount stores.
  • Technology and electronics: Prices for technology and electronics in Geelong can be cheaper when compared to prices in other developed countries.
  • Entertainment: Entertainment options in Geelong such as movie tickets, sporting events, and theme parks can be relatively affordable when bought in advance.
  • Public transportation: Public transportation in Geelong is generally considered to be affordable, especially in comparison to other countries.

Cost of Living in Geelong Vs Higher Standard of Living

 

 

While the cost of living in Geelong can be high, many people find that the increase in cost is outweighed by the increase in quality of life and standard of living. One of the main advantages of living in Geelong is the high standard of living that the area offers. Geelong,Australia is known for its high quality of life and low crime rate, as well as its diverse and multicultural society. Geelong also offers excellent healthcare, education, and transportation systems, which can contribute to a high quality of life.

 

It’s worth noting that the cost of living in Geelong changes depending on location, with some areas being more expensive than others. Generally, the high quality of life and standard of living in Geelong can be seen as a good trade-off for the high cost of living.

cost of living Australia report 2023

cost of living Australia report 2023

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Jane Njoma is a Registered Migration Agent (RMA) with the Australian Migration Agents Registration Authority. She is a member of the Migration Institute of Migration Alliance. Jane Njomo has many years of work experience as an Australian Migration Consultant and runs Lets Go Emigrate Australia as a Free Resource for Information on Immigrating to Australia. Jane believes in broader global access to Australian Immigration information and provides the information free of charge after acquiring the website in 2021.

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