Sydney had the highest median house value compared to other capital cities in Australia as of April 2025, with a value of over **** million Australian dollars. Brisbane similarly had relatively high average residential housing values, passing Canberra and Melbourne to top the pricing markets for real estate across the country alongside Sydney. Housing affordability in Australia Throughout 2024, the average price of residential dwellings remained high across Australia, with several capital cities breaking price records. Rising house prices continue to be an issue for potential homeowners, with many low- and middle-income earners priced out of the market. In the fourth quarter of 2024, Australia’s house price-to-income ratio declined slightly to ***** index points. With the share of household income spent on mortgage repayments increasing alongside the disparity in supply and demand, inflating construction costs, and low borrowing capacity, the homeownership dream has become an unattainable prospect for the average person in Australia. Does the rental market offer better prospects? Renting for prolonged periods has become inevitable for many Australians due to the country’s largely inaccessible property ladder. However, record low vacancy rates and elevated median weekly house and unit rent prices within Australia’s rental market are making renting a less appealing prospect. In financial year 2024, households in the Greater Sydney metropolitan area reported spending around ** percent of their household income on rent.

Key information about House Prices Growth

• Australia house prices grew 2.9% YoY in Dec 2024, following an increase of 5.8% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Sep 2004 to Dec 2024, with an average growth rate of 5.8%.
• House price data reached an all-time high of 24.1% in Dec 2021 and a record low of -6.1% in Mar 2019.

CEIC calculates quarterly House Price Index Growth from quarterly Residential Dwellings: Mean Price of Eight Capital Cities. The Australian Bureau of Statistics provides Residential Dwellings: Mean Price of Eight Capital Cities in local currency. House Price Index Growth prior to Q3 2012 is calculated from Residential Property Price Index: Weighted Average of Eight Capital Cities.

Graph and download economic data for Real Residential Property Prices for Australia (QAUR628BIS) from Q1 1970 to Q4 2024 about Australia, residential, HPI, housing, real, price index, indexes, and price.

Average House Prices in Australia increased to 1002.50 AUD Thousand in the first quarter of 2025 from 995.60 AUD Thousand in the fourth quarter of 2024. This dataset includes a chart with historical data for Australia Mean Dwelling Price.

The house price-to-income ratio in Australia was ***** as of the fourth quarter of 2024. This ratio, calculated by dividing nominal house prices by nominal disposable income per head, increased from the previous quarter. The price-to-income ratio can be used to measure housing affordability in a specific area. Australia's property bubble There has been considerable debate over the past decade about whether Australia is in a property bubble or not. A property bubble refers to a sharp increase in the price of property that is disproportional to income and rental prices, followed by a decline. In Australia, rising house prices have undoubtedly been an issue for many potential homeowners, pricing them out of the market. Along with the average house price, high mortgage interest rates have exacerbated the issue. Is the homeownership dream out of reach? Housing affordability has varied across the different states and territories in Australia. In 2024, the median value of residential houses was the highest in Sydney compared to other major Australian cities, with Brisbane becoming an increasingly expensive city. Nonetheless, expected interest rate cuts in 2025, alongside the expansion of initiatives to improve Australia's dwelling stock, social housing supply, and first-time buyer accessibility to properties, may start to improve the situation. These encompass initiatives such as the Australian government's Help to Buy scheme and the Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) programs.

The average house price in Nova Scotia in 2024 stood at approximately 447,800 Canadian dollars. In the next year, house prices are forecast to further increase by about five percent. Compared to other provinces, Nova Scotia ranked below the national average in terms of house prices. However, the average price of a house in Nova Scotia was twice lower than in Ontario or British Columbia. Exploding population growth in recent yearsNova Scotia is the second-smallest province after Prince Edward Island, and had a population of just under one million in 2018. The population of this province was relatively steady between 2000 and 2015, but has taken off since then. This sudden growth may be a factor in the increasing house prices, as demand also increases due to the greater number of residents looking for homes. The future of housing affordability in Nova ScotiaHalifax, the provincial capital, had an affordable housing market as of 2018, with mortgage payments only constituting about 30 percent of average household incomes. The number of housing starts in the region has increased in the past few years, which also suggests an increase in demand. Only time will tell whether this will ensure a sufficient supply of homes for the region in response to its growing population.

Australia Housing Affordability Index: New South Wales: Sydney data was reported at 93.300 Index in Jun 2010. This records a decrease from the previous number of 102.600 Index for Mar 2010. Australia Housing Affordability Index: New South Wales: Sydney data is updated quarterly, averaging 125.996 Index from Sep 1984 (Median) to Jun 2010, with 104 observations. The data reached an all-time high of 182.873 Index in Sep 1985 and a record low of 83.597 Index in Dec 2003. Australia Housing Affordability Index: New South Wales: Sydney data remains active status in CEIC and is reported by Housing Industry Association. The data is categorized under Global Database’s Australia – Table AU.EB019: Housing Affordability Index: Based on Commonwealth Bank of Australia Home Price (Discontinued). Rebased Index. Replacement series ID: 305195101

This chart shows the monthly housing cost expenses for renters. Gross rent is the agreed upon rent plus the estimated average monthly cost of utilities (electricity, gas, and water and sewer) and fuels (oil, coal, kerosene, wood, etc.) if these are paid by the renter.

In 2022, Sydney was listed as the second-least affordable city worldwide in terms of housing affordability, as well as the most unaffordable capital city for houses in Australia, with a median multiple house price relative to income value of 15.3, meaning that housing prices in Sydney were over 15 times the average annual gross median household income.

This statistic depicts the annual change in residential property prices in Australia between April 2018 and April 2019, by city. In this period, the average house price in Sydney decreased by around 10.9 percent; the largest change across Australia.

In the third quarter of 2023, the median price of residential property transfers for established housing in Sydney came to 1.32 million Australian dollars. The highest median price of established housing transfers in Sydney within the given time period was recorded in the fourth quarter of 2021.

Sydney was the markets with the highest rent for industrial and logistics real estate in the Asia-Pacific (APAC) region in the second half of 2023. Sydney had an average net asking rent of over 22 U.S. dollars per square meter per month, eight U.S. dollars above the average rent in the second-ranking market, Brisbane. Rents in India, on the other hand, were substantially lower. In Mumbai, Bangalore, and Delhi, the square meter rent was less than one U.S. dollar.

Mortgage Rate in Australia increased to 5.98 percent in May from 5.97 percent in March of 2025. This dataset includes a chart with historical data for Australia Mortgage Rate.

In 2024, one square meter of greenfield land cost an average of 1,617 Australian dollars in Sydney, marking an increase of over 100 Australian dollars from the previous year. Sydney has one of the highest land price rates for greenfield development in Australia.

In 2024, Sydney had the highest price per square meter of land across major cities in Australia. Lot buyers expected to pay a premium of 1,617 Australian dollars per square meter in the capital of New South Wales. Conversely, lot buyers in Adelaide expected to spend around 750 Australian dollars per square meter of land. Prices through the roof Over the past decade, the surge in land and housing costs has been attributed to rapid population growth, driving up median prices for property and land, particularly in cities. In Sydney, the per square meter price of land has almost tripled since 2010, while the number of new property listings has declined over the years. A shortage of residential land available to build on has exacerbated the housing affordability crisis in Australia. Will lending rates continue to climb? The homeownership dream is out of reach for the average Australian without a housing loan. Nevertheless, Australia's high mortgage interest rates for both owner-occupiers and investors have impacted current and aspiring mortgage holders, with the value of household lending trending downwards over the past two years. While rates remained high in the first half of 2024, they likely reached their peak, as shown by the gradual plateau in the second half of the year. This stabilization should, in turn, accelerate buying, selling, and lending activities.

The Bellevue Hill area was the most expensive housing suburb in Sydney, Australia as of March 2025, with a median property value exceeding *** million Australian dollars. The Vaucluse suburb had the next highest prices for housing, at around **** million dollars.

In the first half of 2020, the rental price of retail colocation space in Sydney, Australia, was between 230 and 280 U.S. dollars per month. Pricing in hyperscale cloud and wholesale colocation was less expensive, with monthly rent between 145 and 160 U.S. dollars for hyperscale, and 175 and 255 U.S. dollars for wholesale colocation. Hyperscale data centers have the largest power requirements and customers are usually a cloud or large tech company. Wholesale and retail colocation, on the other hand, have smaller power requirements.

As of June 2024, the average weekly rent for a house in Sydney was 750 Australian dollars, which was the highest average rent across all major cities in Australia that year. That same year, the average weekly rent for a house in Melbourne was around 580 Australian dollars.

As of the end of March 2025, the average mortgage interest rate for Australian owner-occupier borrowers was around *** percent. In comparison, the average investor interest rate was approximately *** percent. These rates refer to outstanding housing loans from banks and registered financial corporations. New loans financed in that month had even similar interest rates, at *** percent for owner-occupiers and *** percent for investors, respectively.