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Sydney had the highest median house value compared to other capital cities in Australia as of May 2026, with a value of around **** million Australian dollars. Brisbane similarly had relatively high average residential housing values, passing Perth and Canberra to top the pricing markets for real estate across the country alongside Sydney. 

Housing affordability in Australia

Throughout 2025, 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 2025, 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.