By Sauarbh Goel

As the founder of a student accommodation startup, I understand the importance of selecting locations that are close to top Australian universities. When it comes to choosing the cities that are in close proximity to these prestigious educational institutions, several key cities stand out as prime options:

Sydney: Sydney is home to several world-renowned universities, including the University of Sydney, the University of New South Wales (UNSW), and the University of Technology Sydney (UTS). It offers a vibrant, diverse, and culturally rich environment for students.

Melbourne: Melbourne is another popular destination for students, with institutions like the University of Melbourne, Monash University, and RMIT University. It is known for its cosmopolitan atmosphere, arts and culture scene, and excellent public transportation.

Brisbane: Brisbane boasts universities such as the University of Queensland and Queensland University of Technology (QUT). This city offers a great quality of life, beautiful weather, and exudes a friendly vibe.

Perth: The University of Western Australia and Curtin University are located in Perth. This city is known for its relaxed lifestyle and proximity to natural attractions like Wave Rock, Penguin Island, and more.

Adelaide: Adelaide is home to the University of Adelaide and the University of South Australia. It is known for its affordability and high quality of education.

Canberra: The Australian National University (ANU) is located in the capital city, Canberra. It provides a more serene and academically-focused environment.

Gold Coast: Gold Coast offers a range of educational institutions, including Griffith University. It’s an attractive destination for students who enjoy coastal living.

When selecting a city for your student accommodation startup, it’s important to consider factors such as the specific universities you want to target, the preferences and needs of your target audience, and the local rental market. Each city has its unique advantages, and the choice will depend on your business strategy and the services you aim to provide to students.

Approximate cost of living in major Australian cities

The cost of living can vary based on various factors, including your lifestyle, accommodation choices, and personal preferences.
Here’s an overview of the typical cost of living in some of Australia’s major cities:

Sydney: Sydney is Australia’s largest and most expensive city. The cost of living can be relatively high, with rent being a significant expense. On average, a student can expect to spend around $1,200 to $2,000 per month on living costs, including rent, groceries, transportation, and entertainment.

Melbourne: Melbourne is another major city with a vibrant cultural scene. The cost of living is slightly lower than in Sydney but still substantial. Monthly living expenses for a student may range from $700 to $1,200, depending on their lifestyle and accommodation
choices.

Brisbane: Brisbane offers a more affordable cost of living compared to Sydney and Melbourne. Monthly living expenses typically range from $600 to $1000 for students, with rent being a major cost.

Adelaide: Adelaide is known for its affordability. Students in Adelaide can expect to spend around $800 to $1000 per month on living expenses, making it one of the more budget-friendly Australian cities.

Perth: Perth is another city with a lower cost of living compared to Sydney and Melbourne. Monthly living costs for students may vary between $600 and $1000, with rent being a significant factor.

Canberra: As Australia’s capital, Canberra’s cost of living is moderate. Students can anticipate spending around $1,000 to $1,200 per month on living expenses, including rent and daily necessities.

It’s important to note that these estimates are general averages, and individual expenses can vary widely. Accommodation costs are a significant factor, and choosing the right housing option can greatly impact your overall expenses. Students can also reduce some costs by taking advantage of public transportation, cooking at home, and seeking student discounts.

To get a more accurate estimate of living costs, my advice would be to research specific cities, universities, and accommodation options, as well as consider your personal spending habits and lifestyle choices. Additionally, universities often provide cost of living guides to help students plan their budgets effectively.