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.

Australia Standardised Price-Rent Ratio: sa data was reported at 168.732 Ratio in Dec 2024. This records a decrease from the previous number of 171.919 Ratio for Sep 2024. Australia Standardised Price-Rent Ratio: sa data is updated quarterly, averaging 70.511 Ratio from Sep 1972 (Median) to Dec 2024, with 210 observations. The data reached an all-time high of 189.671 Ratio in Mar 2022 and a record low of 48.119 Ratio in Sep 1972. Australia Standardised Price-Rent Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly. Nominal house prices divided by rent price indices. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

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.

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 dataset contains annual sales trends history for Balmain, 2041 covering median prices, sales volumes, resales capital growth and more. Based on sales data from the NSW Valuer General analysed by AreaSearch.

This dataset provides information about the number of properties, residents, and average property values for Sydney Street cross streets in Port Orange, FL.

This dataset provides information about the number of properties, residents, and average property values for Sydney Harbor Drive cross streets in Bend, OR.

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.

This dataset provides information about the number of properties, residents, and average property values for Sydney Court cross streets in Altamonte Springs, FL.

The industry is benefiting from a long-term shift in dwelling preferences away from traditional single-unit houses and towards higher density apartments and townhouses. Still, this trend reversed during a surge in single-unit house construction under the Federal Government's HomeBuilder scheme and a slump in multi-unit dwelling investment to a cyclical low in 2021-22 as multi-unit dwelling commencements plunged 34.9% over the two years to 2019-20. The sharp contraction in multi-unit dwelling construction stemmed from the emergence of excess unsold stock, tighter restrictions on foreign real estate investment and closed international borders at the height of the COVID-19 pandemic. Demand for new dwelling construction has jumped thanks to extremely low rental vacancy rates since pandemic restrictions eased and Australia's population growth recovered. Rising household formation rates have encouraged property developers to kickstart deferred apartment developments. Residential builders have endured deteriorating profitability through 2024-25 in the face of unfavourable investment conditions and mounting inflationary pressures following earlier pandemic-related supply chain blockages. Adverse trading conditions have contributed to the collapse of several prominent builders, including Probuild, St Hilliers and Dyldham, with flow-on effects throughout the entire industry. Over the five years through 2024-25, industry revenue is expected to decrease at an annualised 2.5% to $52.1 billion, despite anticipated growth of 1.2% during the current year. Several factors have contributed to the industry's recent resurgence, including initiatives from the National Housing Accord (NHA) and the start-up of build-to-rent (BTR) developments. The focus of the government’s residential development efforts through the NHA has been on boosting the stock of affordable housing, including using the Housing Australia Future Fund (HAFF). The recent development of several large-scale BTR projects reflects institutional and taxation changes to allow the investment model, with residential property developers and renters alike increasingly embracing the option. Conditions will strengthen considerably for builders focusing on multi-unit dwelling construction. Industry revenue is projected to grow at an annualised 5.7% through the end of 2029-30 to $68.7 billion. Mounting population pressures, rising house prices and a minor reduction in mortgage interest rates point to favourable investment in medium-to-high-level building projects. The industry will also derive stimulus from the Federal Government promoting the construction of 1.2 million dwellings over the five years from 2024-25 and funding social and affordable rental housing under the HAFF.

This dataset provides information about the number of properties, residents, and average property values for Sydney Harbor Circle cross streets in Delray Beach, FL.

This dataset provides information about the number of properties, residents, and average property values for Sydney Road cross streets in Cove City, NC.

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.

This dataset provides information about the number of properties, residents, and average property values for Sydney Place cross streets in Staten Island, NY.

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.

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.