Cost of living in Reykjavik, Iceland vs Newcastle, Australia
Currency:
Food | + 54% | |||
---|---|---|---|---|
Food in Reykjavik (Iceland) is 54% more expensive than in Newcastle (Australia) | ||||
Basic lunchtime menu (including a drink) in the business district | 3,127 kr (AU$32) | AU$17 | + 85% | |
Combo meal in fast food restaurant (big mac meal or similar) | 1,806 kr (AU$18) | AU$11 | + 60% | |
500 gr (1 lb.) of boneless chicken breast | 1,180 kr (AU$12) | AU$4.99 | + 140% | |
1 liter (1 qt.) of whole fat milk | 172 kr (AU$1.75) | AU$1.27 | + 38% | |
12 eggs, large | 788 kr (AU$8) | AU$4.99 | + 60% | |
1 kg (2 lb.) of tomatoes | 578 kr (AU$5.86) | AU$4.99 | + 18% | |
500 gr (16 oz.) of local cheese | 1,023 kr (AU$10) | AU$10 | + 7% | |
1 kg (2 lb.) of apples | 447 kr (AU$4.53) | AU$4.35 | + 4% | |
1 kg (2 lb.) of potatoes | 375 kr (AU$3.80) | AU$3.46 | + 10% | |
0.5 l (16 oz) domestic beer in the supermarket | 399 kr (AU$4.05) | AU$4.73 | - 14% | |
1 bottle of red table wine, good quality | 3,367 kr (AU$34) | AU$16 | + 108% | |
2 liters of coca-cola | 321 kr (AU$3.26) | AU$3.13 | + 4% | |
Bread for 2 people for 1 day | 327 kr (AU$3.32) | AU$1.79 | + 86% | |
Housing | + 23% | |||
Housing in Reykjavik (Iceland) is 23% more expensive than in Newcastle (Australia) | ||||
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 261,838 kr (AU$2,656) | AU$2,461 | + 8% | |
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 232,894 kr (AU$2,362) | AU$1,879 | + 26% | |
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 18,704 kr (AU$190) | AU$140 | + 35% | |
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 191,469 kr (AU$1,942) | AU$1,843 | + 5% | |
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 155,726 kr (AU$1,579) | AU$1,301 | + 21% | |
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 13,134 kr (AU$133) | AU$92 | + 44% | |
Internet 8 mbps (1 month) | 7,440 kr (AU$75) | AU$52 | + 45% | |
40” flat screen tv | 101,511 kr (AU$1,030) | AU$573 | + 80% | |
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 24,102 kr (AU$244) | AU$177 | + 38% | |
Laundry detergent (3 l. ~ 100 oz.) | 1,913 kr (AU$19) | AU$12 | + 58% | |
Hourly rate for cleaning help | 4,327 kr (AU$44) | AU$28 | + 59% | |
Clothes | + 58% | |||
Clothes in Reykjavik (Iceland) is 58% more expensive than in Newcastle (Australia) | ||||
1 pair of jeans (levis 501 or similar) | 17,416 kr (AU$177) | AU$100 | + 77% | |
1 summer dress in a high street store (zara, h&m or similar retailers) | 8,404 kr (AU$85) | AU$60 | + 42% | |
1 pair of sport shoes (nike, adidas, or equivalent brands) | 21,041 kr (AU$213) | AU$157 | + 36% | |
1 pair of men’s leather business shoes | 27,448 kr (AU$278) | AU$117 | + 139% | |
Transportation | + 40% | |||
Transportation in Reykjavik (Iceland) is 40% more expensive than in Newcastle (Australia) | ||||
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 3,711,350 kr (AU$37,641) | AU$25,963 | + 45% | |
1 liter (1/4 gallon) of gas | 231 kr (AU$2.34) | AU$1.45 | + 62% | |
Monthly ticket public transport | 12,980 kr (AU$132) | AU$100 | + 32% | |
Taxi trip on a business day, basic tariff, 8 km. (5 miles) | 3,332 kr (AU$34) | AU$21 | + 64% | |
Personal Care | + 27% | |||
Personal Care in Reykjavik (Iceland) is 27% more expensive than in Newcastle (Australia) | ||||
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 1,366 kr (AU$14) | AU$12 | + 14% | |
1 box of antibiotics (12 doses) | 2,029 kr (AU$21) | AU$16 | + 32% | |
Short visit to private doctor (15 minutes) | 5,604 kr (AU$57) | AU$71 | - 20% | |
1 box of 32 tampons (tampax, ob, ...) | 661 kr (AU$7) | AU$6 | + 10% | |
Deodorant, roll-on (50ml ~ 1.5 oz.) | 604 kr (AU$6) | AU$4.60 | + 33% | |
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 667 kr (AU$7) | AU$5.36 | + 26% | |
4 rolls of toilet paper | 480 kr (AU$4.87) | AU$3.19 | + 53% | |
Tube of toothpaste | 414 kr (AU$4.20) | AU$3.88 | + 8% | |
Standard men's haircut in expat area of the city | 5,775 kr (AU$59) | AU$25 | + 135% | |
Entertainment | - 5% | |||
Entertainment in Reykjavik (Iceland) is 5% cheaper than in Newcastle (Australia) | ||||
Basic dinner out for two in neighborhood pub | 7,167 kr (AU$73) | AU$52 | + 41% | |
2 tickets to the movies | 3,144 kr (AU$32) | AU$27 | + 18% | |
2 tickets to the theater (best available seats) | 12,001 kr (AU$122) | AU$162 | - 25% | |
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 11,714 kr (AU$119) | AU$108 | + 10% | |
1 cocktail drink in downtown club | 2,559 kr (AU$26) | AU$14 | + 80% | |
Cappuccino in expat area of the city | 687 kr (AU$7) | AU$4.46 | + 56% | |
1 beer in neighbourhood pub (500ml or 1pt.) | 1,111 kr (AU$11) | AU$7 | + 65% | |
Ipad wi-fi 128gb | 85,553 kr (AU$868) | AU$594 | + 46% | |
1 min. of prepaid mobile tariff (no discounts or plans) | 20 kr (AU$0.20) | AU$0.83 | - 76% | |
1 month of gym membership in business district | 8,187 kr (AU$83) | AU$53 | + 56% | |
1 package of marlboro cigarettes | 1,463 kr (AU$15) | AU$27 | - 45% | |
TOTAL | + 30% |

These prices were last updated on March 04, 2021.
Exchange rate:
0.01014
AUD
/
ISK
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Cost of living in Reykjavik (Iceland) is 30% more expensive than in Newcastle (Australia)
For example, you would need at least AU$10,387 (1,024,126 kr) in Reykjavik to maintain the same standard of living that you can have with AU$8,000 in Newcastle.
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