Melbourne has been named as the world's most liveable city, while India's business capital Mumbai placed at 116th position in an annual survey that assessed living conditions in 140 global cities.

According to the Economic Intelligence Unit's new Global Liveability Survey, Melbourne dislodged Vancouver to become the best city in the world to live.

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The Canadian capital city that topped the survey since 2002 fell this year to third place behind Vienna, the Sydney Morning Herald reported.

According to the report, India's commercial hub Mumbai is ranked 116th, one place up from its previous year's ranking.           

In 2010, Mumbai was ranked 117th while Delhi was at 113th position.

Though Delhi figured in the new survey, its current ranking was not mentioned in the media report.

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Other Australian cities in the top 10 included Sydney, which is placed at 6th, while Perth and Adelaide ranked eighth and ninth.

"Australia, with a low population density and relatively low crime rates, continues to supply some of the world's most liveable cities," survey editor Jon Copestake said.

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The top 10 liveable cities included Toronto, which is placed at 4th, followed by Calgary (5th), Helsinki (7th) and Auckland (10th).

London was ranked 53, while at 26 position, Honolulu was the top US city.

The worst places to live among the 140 locations surveyed by EIU were Port Moresby in Papua New Guinea, Bangladesh's Dhaka and Zimbabwe's Harare.

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Scores in Europe had been pushed slightly down by the Eurozone crisis, while the Arab Spring had affected ratings across West Asia and North Africa.

The cities were gauged on five categories -- political and social stability, healthcare, culture and environment, education and  infrastructure.

They were scored out of 100 and the report noted that the top 10 cities were only separated by 1.8 percentage points.