I'm in Adelaide (well just outside), South Australia.
We have a bigger house here than in the UK (but a bigger mortgage too).
The weather is heaps better.
It is much quieter and much more relaxed than the UK, dh is less stressed, and rather than commuting from Brighton to London he can now drive or cycle to work. The kids are in a lovely school (but I know there are lovely schools in the UK).
We live in a really beautiful area, 5 mins from world class wineries and 20 mins from the city centre.
Generally things are good, but there is a lot that I miss. Adelaide is very pleasant but culturally pretty dull, I miss the vibrancy and life of a bigger city. You can drive for hours here and see fuck all.
So, er, to answer your question, we have achieved a better standard of living in material terms, but as dh says, every place in the world has trade offs.