Authored by the expert who managed and guided the team behind the Australia Property Pack
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This article explains the current housing prices in Australia in 2026, using the latest available data as of June 2026.
We constantly update this blog post so readers can follow the Australia property market with fresh and simple numbers.
We focus only on residential property in Australia, such as houses, apartments, townhouses, villas and family homes.
And if you’re planning to buy a property in this place, you may want to download our pack covering the real estate market in Australia.
Insights
- The median housing price in Australia in 2026 is about A$930,000, but the official average is higher because expensive Sydney and prestige coastal homes pull the mean upward.
- The average housing price in Australia in 2026 is about A$1.11 million, according to the ABS March quarter 2026 dwelling value release.
- A buyer looking at ordinary homes in Australia in 2026 should usually expect a realistic range between A$450,000 and A$2.1 million.
- Perth, Brisbane and Adelaide are still pushing Australia housing prices higher in 2026, while Sydney and Melbourne are more sensitive to affordability and mortgage costs.
- Australian listing prices are often negotiable in 2026, with many normal private treaty sales closing around 2% to 4% below the first asking price.
- New homes in Australia cost about 10% to 25% more than similar existing homes because builders still face high labour, land and construction costs.
- Stamp duty is one of the biggest extra costs in Australia, and buyers should often add 5% to 12% on top of the purchase price before renovation.
- Australia is not one single housing market, because a A$750,000 apartment in Sydney is very different from a A$750,000 house in Adelaide or Perth.
What is the average housing price in Australia in 2026?
The median housing price in Australia in 2026 is usually more useful than the average price because the median shows what a typical buyer is closer to paying, while the average is pushed up by very expensive homes.
We are writing this as of 2026 with the latest data collected from authoritative sources that we manually double checked.
The estimated median housing price in Australia in 2026 is about A$930,000, which is about US$605,000 or €530,000. The average housing price in Australia in 2026 is about A$1.11 million, which is about US$722,000 or €633,000.
For about 80% of ordinary residential property in Australia in 2026, a realistic price range is about A$450,000 to A$2.1 million, or about US$293,000 to US$1.37 million, or about €257,000 to €1.2 million.
A realistic entry range in the Australia housing market in 2026 is about A$350,000 to A$650,000, or about US$228,000 to US$423,000, or about €200,000 to €371,000, and this can buy an older 1-bedroom apartment in Footscray, a small unit near Logan, or an older villa around Midland.
A realistic luxury range in the Australia property market in 2026 is about A$2.5 million to A$8 million+, or about US$1.63 million to US$5.2 million+, or about €1.43 million to €4.56 million+, and this can buy a large renovated house in Mosman, Toorak, Brighton, Bondi or Cottesloe.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Australia.
Sources and methodology: we used ABS Total Value of Dwellings as the official anchor for mean prices.
We cross-checked buyer-facing prices with PropTrack, Cotality and Domain.
We rounded the final numbers so the Australia housing price estimates stay easy to read.
Are Australia property listing prices close to the actual sale price in 2026?
In Australia in 2026, we estimate that many residential properties sell for about 3% below the first asking price, although the gap changes a lot by city and property type.
The gap exists because many Australian homes are sold by private treaty, where buyers can negotiate after inspections and building checks. It varies the most for softer Sydney and Melbourne listings, while good family homes in Perth, Brisbane and Adelaide can still sell very close to the guide, and sometimes above it at auction.
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What is the price per sq m or per sq ft for properties in Australia in 2026?
As of 2026, the estimated median housing price per square metre in Australia is about A$6,700, or about US$4,355 and €3,819, which is about A$622 per square foot, or US$404 and €354. The estimated average housing price per square metre in Australia is about A$8,000, or about US$5,200 and €4,560, which is about A$743 per square foot, or US$483 and €424.
The highest prices per square metre in Australia in 2026 are usually found in small apartments and prestige homes in scarce inner-city or waterfront locations, while the lowest prices are usually found in older homes in outer suburbs, inland regional towns and weaker employment areas.
The highest price per square metre in Australia in 2026 is often found in places such as Bondi, Mosman, Manly, Toorak, New Farm and Cottesloe, where ranges can reach about A$12,000 to A$25,000+ per sqm. The lowest ranges are often found in outer regional towns and some inland areas, where ranges can be closer to A$2,000 to A$4,500 per sqm.
Sources and methodology: we combined ABS dwelling values with typical Australian dwelling sizes.
We cross-checked the result with Domain, PropTrack and capital-city house and unit gaps.
We treated land-heavy houses and compact inner-city units separately because they behave differently per square metre.
How have property prices evolved in Australia?
Compared with one year ago, Australia property prices in 2026 are roughly 6% to 8% higher in nominal terms. The main reason is that Perth, Brisbane and Adelaide stayed strong enough to offset softer parts of Sydney and Melbourne.
Compared with two years ago, Australia housing prices in 2026 are clearly higher, with many markets lifted by limited housing supply and strong population growth. The increase is not even across the country, because cities with tight listings and better relative affordability moved faster.
By the way, we’ve written a blog article detailing the latest updates on property price variations in Australia.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Australia.
Sources and methodology: we used ABS dwelling values to anchor the long-term change.
We used ABS CPI to separate nominal price growth from inflation-adjusted growth.
We used RBA household data to understand rates, debt and affordability pressure.
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How do prices vary by housing type in Australia in 2026?
In the Australia property market in 2026, detached houses make up about 55% of listings and transactions, apartments and units about 25%, townhouses and terraces about 10%, villas and low-rise units about 5%, new house-and-land homes about 3%, and prestige homes about 2%, because Australia still has a large detached-house culture but more buyers use apartments and townhouses for affordability.
As of 2026, a detached house in Australia averages about A$1.25 million, or US$813,000 and €713,000. An apartment or unit averages about A$720,000, or US$468,000 and €410,000, while a townhouse averages about A$950,000, or US$618,000 and €542,000. A villa or low-rise unit averages about A$780,000, or US$507,000 and €445,000, while a new house-and-land home averages about A$900,000, or US$585,000 and €513,000.
If you want to know more, you should read our dedicated analyses:
Sources and methodology: we used Domain to compare houses and units across major capitals.
We cross-checked broad market levels with PropTrack and Cotality.
We adjusted the split by property type because detached homes and apartments do not have the same buyer pool.
How do property prices compare between existing and new homes in Australia in 2026?
In Australia in 2026, a new home usually costs about 10% to 25% more than a similar existing home in the same broad location.
This new-build premium exists because construction costs, labour shortages, land scarcity and slow approvals still make it expensive to deliver new housing in Australia.
Sources and methodology: we used ABS Building Approvals to assess supply pressure.
We used National Housing Supply and Affordability Council data to understand the housing shortage.
We compared new-build premiums with existing-home prices from market data providers and rounded the range.
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How do property prices vary by neighborhood in Australia in 2026?
Bondi and the Eastern Suburbs in Sydney have apartments, terraces and premium family homes, with common price ranges between about A$1.6 million and A$4.5 million, or about US$1 million to US$2.9 million, or about €0.9 million to €2.6 million. Prices are high because buyers pay for the beach, international lifestyle, jobs access and strong rental demand.
South Yarra and Richmond in Melbourne have apartments, townhouses and older terraces, with common price ranges between about A$750,000 and A$2.2 million, or about US$488,000 to US$1.43 million, or about €428,000 to €1.25 million. Prices are supported by transport, cafés, schools, universities and a walkable inner-city lifestyle.
New Farm and Teneriffe in Brisbane have apartments, renovated houses and riverfront homes, with common price ranges between about A$850,000 and A$3 million, or about US$553,000 to US$1.95 million, or about €485,000 to €1.71 million. Prices are high because buyers like the warm climate, river lifestyle, inner-city access and population growth in Brisbane.
You will find a much more detailed analysis by areas in our property pack about Australia. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Area in Australia | Market label | Average price range | Average range per sqm | Average range per sqft |
|---|---|---|---|---|
| Bondi, Sydney | Beach, expat, premium | A$1.3m to A$4.5m US$845k to US$2.93m |
A$15k to A$25k US$9.8k to US$16.3k |
A$1,394 to A$2,323 US$906 to US$1,510 |
| Mosman, Sydney | Luxury, family | A$2.5m to A$8m US$1.63m to US$5.2m |
A$13k to A$24k US$8.5k to US$15.6k |
A$1,208 to A$2,230 US$785 to US$1,449 |
| Parramatta, Sydney | Commute, value | A$650k to A$1.4m US$423k to US$910k |
A$8k to A$12k US$5.2k to US$7.8k |
A$743 to A$1,115 US$483 to US$725 |
| South Yarra, Melbourne | Lifestyle, expat | A$600k to A$2.4m US$390k to US$1.56m |
A$9k to A$16k US$5.9k to US$10.4k |
A$836 to A$1,487 US$543 to US$967 |
| Footscray, Melbourne | Entry, commute | A$420k to A$1.1m US$273k to US$715k |
A$6k to A$10k US$3.9k to US$6.5k |
A$557 to A$929 US$362 to US$604 |
| Toorak, Melbourne | Prestige, luxury | A$1.2m to A$7m+ US$780k to US$4.55m+ |
A$11k to A$22k US$7.2k to US$14.3k |
A$1,022 to A$2,044 US$664 to US$1,329 |
| New Farm, Brisbane | River, expat | A$750k to A$3m US$488k to US$1.95m |
A$9k to A$17k US$5.9k to US$11.1k |
A$836 to A$1,580 US$543 to US$1,027 |
| Chermside, Brisbane | Family, commute | A$550k to A$1.2m US$358k to US$780k |
A$6k to A$10k US$3.9k to US$6.5k |
A$557 to A$929 US$362 to US$604 |
| Cottesloe, Perth | Beach, luxury | A$1.3m to A$5.5m US$845k to US$3.58m |
A$10k to A$18k US$6.5k to US$11.7k |
A$929 to A$1,672 US$604 to US$1,087 |
| Joondalup, Perth | Family, value | A$550k to A$1.2m US$358k to US$780k |
A$5k to A$8k US$3.3k to US$5.2k |
A$465 to A$743 US$302 to US$483 |
| Glenelg, Adelaide | Beach, lifestyle | A$600k to A$1.8m US$390k to US$1.17m |
A$6.5k to A$11k US$4.2k to US$7.2k |
A$604 to A$1,022 US$393 to US$664 |
| Belconnen, Canberra | Commute, apartment value | A$500k to A$1.1m US$325k to US$715k |
A$6k to A$9k US$3.9k to US$5.9k |
A$557 to A$836 US$362 to US$543 |
Sources and methodology: we used Domain and PropTrack for city and suburb price checks.
We used Cotality methodology to avoid relying only on raw sales medians.
We rounded suburb ranges because local prices change with street quality, renovation level and land size.
How much more do you pay for properties in Australia when you include renovation work, taxes, and fees?
In Australia in 2026, a buyer should usually add about 5% to 12% on top of the purchase price for taxes and fees, and closer to 15% to 35% if serious renovation is needed.
If you buy a property for around US$200,000, or about A$308,000, extra costs may be around A$18,000 to A$40,000, so the final cost may land near A$326,000 to A$348,000. At this level, the Australia property market usually means an older regional unit, a small inland house, or a very basic apartment outside major premium areas.
If you buy a property for around US$500,000, or about A$769,000, extra costs may be around A$45,000 to A$100,000, so the final cost may land near A$814,000 to A$869,000. This could be a 2-bedroom apartment in Parramatta, a townhouse in Brisbane, or a detached house in Adelaide, depending on location.
If you buy a property for around US$1,000,000, or about A$1.54 million, extra costs may be around A$90,000 to A$200,000, so the final cost may land near A$1.63 million to A$1.74 million. If renovation is needed, the final cost can rise much further because full house renovation costs are high in Australia.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Australia.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Australia
| Extra expense | Type of cost | Estimated cost range in Australia |
|---|---|---|
| Stamp duty or transfer duty | Tax | Usually about 3% to 6% of the purchase price, depending on the state and buyer status. On a A$1 million home, this can mean about A$30,000 to A$60,000, or about US$19,500 to US$39,000. Foreign buyers may face extra state surcharges. |
| Conveyancer or solicitor | Legal fee | Usually about A$1,500 to A$4,000, or about US$975 to US$2,600. This pays for contract checks, settlement work and legal guidance. It is a small cost compared with stamp duty, but it is important. |
| Building and pest inspection | Due diligence | Usually about A$400 to A$1,200, or about US$260 to US$780. This helps buyers avoid hidden structural, moisture or pest problems. It is especially useful for older houses. |
| Mortgage setup and valuation | Finance fee | Usually about A$300 to A$1,500, or about US$195 to US$975. Banks may charge setup, valuation or administration fees. The exact cost depends on the lender and the loan type. |
| Buyer’s agent | Optional service | Often about 1% to 2.5% of the purchase price. On a A$1 million property, this means about A$10,000 to A$25,000, or about US$6,500 to US$16,250. This is optional, but some foreign buyers use one for search and negotiation help. |
| Basic cosmetic renovation | Renovation | Often about A$800 to A$1,500 per sqm, or about US$520 to US$975 per sqm. This can cover painting, flooring, lighting and basic finishes. It usually does not include major layout changes. |
| Full apartment renovation | Renovation | Often about A$1,500 to A$3,000 per sqm, or about US$975 to US$1,950 per sqm. Kitchens, bathrooms and electrical work can move the cost higher. Apartment body corporate rules can also add friction. |
| Full house renovation | Renovation | Often about A$2,000 to A$4,500 per sqm, or about US$1,300 to US$2,925 per sqm. Costs rise quickly when structural work, extensions or premium finishes are involved. Older houses may also need plumbing, roof or wiring work. |
Sources and methodology: we used Revenue NSW and SRO Victoria for official duty checks.
We cross-checked state tax logic with other state revenue offices and used normal buyer-cost ranges.
We kept renovation costs broad because property condition changes the final bill a lot.
We made this infographic to show you how property prices in Australia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Australia in 2026 with different budgets?
With US$100,000, or about A$154,000, there is almost no normal residential market in major Australian cities, but possible examples include a 20 to 30 sqm studio in a regional mining town, a 1-bedroom retirement-village unit in a regional area, or a distressed fractional property interest, usually existing and high risk.
With US$200,000, or about A$308,000, a buyer may find an older 1-bedroom unit of 40 to 50 sqm in regional Queensland, a small 2-bedroom unit of 60 to 75 sqm in regional South Australia, or a basic older 80 to 110 sqm inland house that needs work.
With US$300,000, or about A$462,000, a buyer may find an existing 1-bedroom apartment of 45 to 55 sqm in Footscray or Sunshine, an existing 2-bedroom unit of 60 to 75 sqm near Logan or Beenleigh, or an existing 2-bedroom villa of 65 to 85 sqm in Midland or Armadale.
With US$500,000, or about A$769,000, a buyer may find an existing 2-bedroom apartment of 70 to 85 sqm in Parramatta, an existing 3-bedroom townhouse of 100 to 130 sqm in Chermside, or an existing 3-bedroom detached house of 120 to 160 sqm in Salisbury.
With US$1,000,000, or about A$1.54 million, a buyer may find an existing 2-bedroom apartment of 80 to 100 sqm in Bondi or Coogee, an existing 3-bedroom terrace or townhouse of 120 to 160 sqm in Richmond or South Yarra, or a 4-bedroom detached house of 180 to 240 sqm in Joondalup or inner-north Perth.
With US$2,000,000, or about A$3.08 million, a buyer is in the high-end Australia property market, but not always at the very top of Sydney luxury, and possible examples include a large 250 to 350 sqm family house in New Farm, a 220 to 320 sqm beachside house in Cottesloe, or a premium 120 to 180 sqm apartment or terrace in Bondi, Paddington or Mosman.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Australia.
What sources have we used to write this blog article?
Whether it’s in our blog articles or the market analyses included in our property pack about Australia, we always rely on the strongest methodology we can … and we don’t throw out numbers at random.
We also aim to be fully transparent, so below we’ve listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source used | Why this source is reliable | How we used this source |
|---|---|---|
| Australian Bureau of Statistics, Total Value of Dwellings, March Quarter 2026 | The ABS is Australia’s official national statistics agency. | We used it as the anchor for the official average dwelling price and total value of housing. We also used it to check state-level dwelling values. |
| Australian Bureau of Statistics, Consumer Price Index, March 2026 | The ABS CPI release is the official inflation source for Australia. | We used it to understand how much of the housing-price increase was real and how much came from inflation. We also used it to explain why buyers may feel more pressure than headline prices suggest. |
| Australian Bureau of Statistics, Building Approvals | This is the official source for Australian building approval data. | We used it to understand whether new supply was improving. We also used it to explain why new homes still carry a price premium. |
| Reserve Bank of Australia, Household Sector Chart Pack | The RBA is Australia’s central bank and a key source for household and mortgage context. | We used it to frame interest rates, household debt and mortgage affordability. We also used it to explain why buyers are price-sensitive in 2026. |
| Cotality Home Value Index methodology | Cotality, formerly known through CoreLogic-style reporting, is widely used for hedonic property index data. | We used the methodology to understand quality-adjusted price movements. We also used it to avoid relying only on raw median sales. |
| PropTrack Home Price Index | PropTrack is linked to a major Australian listing ecosystem and gives timely market data. | We used it to cross-check national and regional home values. We also used it to estimate what buyers see in the listed market. |
| Domain House Price Report, March 2026 | Domain is a major Australian property marketplace with a long-running research series. | We used it to compare houses and units in the main capital cities. We also used it to check suburb and property-type differences. |
| National Housing Supply and Affordability Council, State of the Housing System 2026 | This government-backed source focuses on housing supply and affordability in Australia. | We used it to understand structural housing shortages. We also used it to explain why prices can stay high even when buyers are cautious. |
| Revenue NSW, Transfer Duty | Revenue NSW is the official source for transfer duty rules in New South Wales. | We used it to model buyer taxes in Australia’s largest housing market. We also used it to check the size of transaction costs. |
| State Revenue Office Victoria, Land Transfer Duty Calculator | This is the official Victorian calculator for land transfer duty. | We used it to cross-check buyer costs in Victoria. We also used it to avoid applying one state’s tax rule to all of Australia. |
| Queensland Revenue Office, Transfer Duty | The Queensland Revenue Office is the official state source for Queensland duty rules. | We used it to understand buyer costs in Brisbane and Queensland. We also used it to compare state-by-state tax differences. |
| RevenueSA, Conveyance Duty | RevenueSA is the official South Australian source for conveyance duty rules. | We used it to check Adelaide and South Australia buyer costs. We also used it to make the tax range more nationally realistic. |
| Government of Western Australia, Transfer Duty | The Government of Western Australia provides the official duty rules for WA property transfers. | We used it to check transaction costs in Perth and Western Australia. We also used it because Perth was one of the stronger 2026 markets. |
| ACT Revenue Office, Conveyance Duty | The ACT Revenue Office is the official source for Canberra conveyance duty rules. | We used it to check buyer costs in Canberra. We also used it to make sure smaller capital-city markets were not ignored. |
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