Overall, Australia enjoys cheaper living costs than either the United States or Britain. Prices are relatively low for essentials such as food, drink and clothes. Manufactured goods, on the other hand, are generally expensive because many are imported.
Based on actual reported expenditures by international students, an average student in Australia can live on 6,807 AUD (6,043 USD) a year, compared to 9,608 AUD (8,529 USD) in the United States and 9,894 AUD (8,783 USD) in the UK. These costs include accommodation, food, transport, clothing, fuel, power, telephone and other small miscellaneous costs.

This is just a sample of what you'll find in the complete Australia guide.