Australians are generally enjoying the good life, according to a new study, enabling them to finance the demanding lifestyles of the country's key cities.

According to the new report conducted by the University of Canberra's National Centre for Social and Economic Modelling (NATSEM), Australians appear to have gained more purchasing power over the last three decades.

NATSEM's report, which was commissioned by finance firm AMP, showed that the average Australian household has managed to raise its disposable income by at least 20 percent since 1984, allowing for spending budget of at least $224 per week.

Australians were found all willing to fork out extra cash restaurant trips, with more to spare to pay for their children's decent education in private learning institutions, according to NATSEM researcher Ben Phillips.

Specific amounts have also been set aside by Aussie families that would cover for child care services, the NATSEM report said.

"We know they're spending a lot more on restaurants, holidays and private schools ... We're not saying everyone is doing well but there are certainly plenty who are doing very well," Mr Phillips was reported by ABC as saying on Wednesday in the new report.

In effect, more and more Aussie were found to be using up their finances for things that can be considered as life's luxuries rather than families' basic needs, Mr Phillips pointed out.

He added though that "there's no doubt that there's many people who are doing it tough, we're not denying that for one second."

The new study merely presented the fact that more Australians were experiencing the benefits of a steady economy while on the other end of the spectrum, some were struggling, which were part of the realities of any economic environment, Mr Phillips explained.

As shown by the latest inflation figures, prices were not at all shrinking the value of incomes by many Australians.

"It's not so much about higher prices, it's really we're living these bigger lifestyles and we're all working harder. And that's where the pressure's come from," the NATSEM researcher said.

And those living in key Australian cities will most definitely feel the heaviest pressure there is, the report said.

To date, the NATSEM research figures pointed to Sydney as the country's most expensive city, where "some extent people are living bigger lifestyles and they've got bigger expectations," according to Mr Phillips.

But Aussies aiming to be located where the country's best living standard was pinpointed by the NATSEM study should not look beyond Canberra.

Owing to the capital's potential income possibility and the cost of goods and services, Canberra, according to Mr Phillips, easily beats outs any Australian cities, and where living standard is probably higher than some major cities across the globe.