In 2024, one square meter of greenfield land cost an average of ***** 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 ***** Australian dollars per square meter in the capital of New South Wales. Conversely, lot buyers in Adelaide expected to spend around *** 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 the first quarter of 2025, the average net face rent of industrial property in New South Wales was around *** Australian dollars per square meter. In comparison, the average net face rent of industrial property in Victoria was around *** Australian dollars per square meter.

South Sydney had the highest average land value of industrial property with a value of ***** Australian dollars per square meter in Australia. City Fringe Melbourne had the second highest average land value of industrial property with a value of ***** Australian dollars per square meter.

In a comparison of selected cities worldwide, New York had the highest costs for the construction of a multi-unit high-rise building in 2023. That year, such a project cost on average ***** U.S. dollars per square meter in New York, but just *** U.S. dollars per square meter in Kuala Lumpur. Sydney, London, San Francisco, and Los Angeles were also among the most expensive cities too.

The central business district in New South Wales had the highest average net face rent for prime office property in Australia in the first quarter of 2025, with an average rent of ***** Australian dollars per square meter. In comparison, Victoria's CBD had an average net face rent of *** Australian dollars per square meter of office property.

The central business district in Sydney had the highest average capital value of office property in Australia in the second quarter of 2021 with an average capital value of ****** Australian dollars per square meter. The central business district in Melbourne had an average capital value of office property of ****** Australian dollars per square meter in Australia.

In the second quarter of 2021, South Sydney had the most expensive net face rent of industrial property in Australia with a net face rent of *** Australian dollars per square meter. The second highest net face rent was in Central West Sydney with a net face rent of *** Australian dollars per square meter.

In the second quarter of 2021, South Sydney had the highest average capital value of industrial property with a value of ***** Australian dollars per square meter in Australia. Overall, Sydney had the highest average capital value of industrial property per square meter compared to all other states.