The glamorous lifestyle you dream of lies in the most unexpected place. Source: Getty Images
IT'S the Australian city where homeowners have the biggest disposable income. But most people wouldn't think that moving here would help them have a life.
This is Canberra, the capital notorious for being the county's most boring metropolis.
Householders earning the city's average salary with the average mortgage repayment will have a hefty $3,271 left over every month.
Meanwhile, poor Sydneysiders on the city's average salary and average mortgage repayment will have just $1,895 left in their bank accounts each month.
You can have a home and wads of cash in Canberra. Source: News Limited
"The emerald city is suffering the most, with the average mortgage repayment now taking a whopping 63 per cent of the average after tax salary," said Kirsty Lamont, director of financial comparison site Mozo, which carried out the research. "Meanwhile, Canberrans are parting with 42 per cent of their salary, leaving the rest for expenses and lifestyle such as dining out, travel or saving for a rainy day."
Canberra's high average monthly salary works out to be $5,651 after tax, while its property prices are relatively low at an average of just $510,000.
Sydneysiders would have more than $1000 extra per month in Canberra. Picture: Mozo Source: Supplied
It is closely followed by Perth and then Hobart. Perth has the nation's second highest income to help pay the mortgage, and while Hobart has the lowest average income of its national counterparts it also enjoys the lowest property prices — with the average monthly mortgage repayment half of Sydney's.
Sydney and Melbourne are not only slapped with high repayments, they're also among the world's top 10 most expensive cities.
"Not usually known as the capital of fun, it looks like Canberra is where it's at if you want to splash your extra cash and not be a slave to your mortgage," said Lamont.
Would you move to Canberra to get a life?
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