That's right - the Harbour City may not be so expensive after all.
While it certainly feels like to the cost of living is rising, according to the Economist Intelligence Unit's (EIU) list of the world's top ten most expensive cities, Sydney doesn't rate a mention in 2019.
The Economist Intelligence Unit 2019's Worldwide Cost of Living Survey saw Sydney drop from 10th to 16th place worldwide in the most expensive cities index, with Melbourne also plummeting from 14th spot in 2018 to claim 22nd spot in this year's report.
It's believed that this drop has everything to do with our falling economy and fluctuating Aussie dollar across the globe.
For the first time, three cities equally shared the top spot, with Paris, Hong Kong and Singapore scoring 107. They were closely followed by two Swiss cities, Zurich and Geneva with scores of 106, to round out the top five.
Singapore, one of the most expensive cities to live in the world.
The top ten is largely split between Asia and Europe, with Singapore the only city in the top ten that has maintained its rank from 2018. American cities, New York, Los Angeles and Japan's Osaka re-entered the top ten, knocking out Sydney in the process.
The scores are determined by comparisons on price for more than 150 products and services across the cities, including goods and services such as rent, food, transport, water and electricity.
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