Authored by the expert who managed and guided the team behind the Australia Property Pack
Everything you need to know before buying real estate is included in our Australia Property Pack
Australia's property market remains one of the most watched in the world, and understanding current housing prices is essential whether you're a first-time buyer, investor, or expat planning a move.
In this article, we break down the latest data on Australian housing prices as of the first half of 2026, covering everything from median values to neighborhood comparisons.
We constantly update this blog post to reflect the most recent market conditions and data releases.
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 gap between Australia's median dwelling price (A$895,000) and average price (A$1,045,000) reveals how a small share of multi-million dollar homes significantly skews the national average upward.
- Over the past 10 years, Australian property prices rose about 61% in nominal terms, but only 22% after accounting for inflation, showing much of the "growth" was eaten by rising costs.
- Small inner-city apartments in premium locations often have the highest price per square meter in Australia because buyers pay for postcode and lifestyle rather than floor space.
- New homes in Australia typically sell for 5% to 15% more than comparable existing properties due to higher construction costs and modern energy efficiency standards.
- Sydney's Mosman neighborhood commands prices between A$2.5 million and A$8 million, while outer suburbs like Liverpool offer entry points starting around A$500,000.
- Australian buyers should budget an extra 5% to 12% on top of the purchase price for stamp duty, legal fees, inspections, and potential renovations.
- The typical difference between listing price and final sale price in Australia ranges from 3% to 7%, depending on whether the property sells at auction or by private treaty.
What is the average housing price in Australia in 2026?
The median housing price is more useful than the average because it represents the middle point of all sales, meaning it is not distorted by a handful of extremely expensive properties the way the average is.
We are writing this in January 2026 using the latest data from authoritative sources including the Australian Bureau of Statistics, Cotality (formerly CoreLogic), and the Reserve Bank of Australia, all of which we manually verified.
The median dwelling price in Australia in 2026 is approximately A$895,000 (about $591,000 or €537,000), while the average dwelling price is around A$1,045,000 (about $690,000 or €627,000). The average is higher because expensive properties in premium areas pull the mean upward.
Around 80% of residential properties in Australia in 2026 fall within a price range of A$500,000 to A$1,600,000 (about $330,000 to $1,060,000 or €300,000 to €960,000).
A realistic entry-level price range in Australia in 2026 is A$420,000 to A$550,000 (about $277,000 to $363,000 or €252,000 to €330,000), which would typically get you an existing one-bedroom apartment of 45 to 55 square meters in an outer suburb of Adelaide or a regional city fringe.
Luxury properties in Australia in 2026 typically start at A$3,000,000 and above (about $2,000,000+ or €1,800,000+), and at this level you could purchase a renovated four-bedroom house of 200 to 300 square meters in a harbour or beach-adjacent Sydney suburb with high land value.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Australia.
Are Australia property listing prices close to the actual sale price in 2026?
In Australia in 2026, the typical difference between the initial listing price and the final sale price is estimated at 3% to 7%.
This gap exists because agents often set a marketing price designed to attract more inspections and bidding competition, especially in auction-heavy markets like Sydney and Melbourne. The variation is largest for auction sales in high-demand suburbs, where competitive bidding can push final prices well above the guide, while private treaty sales in softer markets tend to see more negotiation downward.
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What is the price per sq m or per sq ft for properties in Australia in 2026?
As of early 2026, the median housing price per square meter in Australia is approximately A$6,400 (about $4,200 or €3,800), while the average price per square meter is around A$7,500 (about $4,950 or €4,500). Per square foot, the median is roughly A$595 (about $393 or €357) and the average is about A$700 (about $462 or €420).
Small, well-located apartments such as studios and one-bedrooms in premium inner-city or beach areas have the highest price per square meter in Australia in 2026 because buyers pay a premium for location, walkability, and scarcity, while large outer-suburban houses and regional homes have the lowest price per square meter due to more available land and longer commutes.
In Australia in 2026, you would find the highest price per square meter in Sydney's Eastern Suburbs and North Shore areas like Bondi and Mosman (ranging from A$16,000 to A$35,000 per square meter), while the lowest prices are found in outer-ring suburbs like Liverpool and Blacktown (ranging from A$6,000 to A$10,000 per square meter).
How have property prices evolved in Australia?
Compared to January 2025, Australian property prices have risen by approximately 6% in nominal terms. This growth was driven primarily by tight listing volumes and a construction pipeline that has not kept pace with housing demand.
Over the past 10 years (from roughly 2016 to 2026), Australian property prices have increased by about 61% in nominal terms, but only around 22% after adjusting for inflation. The long-term growth has been fueled by population growth concentrated in major cities, job concentration in urban centers, and persistent supply constraints from planning regulations and construction capacity limits.
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.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Australia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
How do prices vary by housing type in Australia in 2026?
In Australia in 2026, the estimated market breakdown is approximately 45% detached houses, 40% units and apartments, 12% townhouses and terraces, and 3% other property types like villas and acreage homes, reflecting the Australian preference for standalone houses combined with the growing role of apartments in dense urban areas.
Average price ranges by property type in Australia as of the first half of 2026 are: detached houses at A$1,000,000 to A$1,300,000 ($660,000 to $860,000 or €600,000 to €780,000), units and apartments at A$600,000 to A$750,000 ($396,000 to $495,000 or €360,000 to €450,000), townhouses and terraces at A$800,000 to A$1,000,000 ($528,000 to $660,000 or €480,000 to €600,000), villas at A$650,000 to A$850,000 ($429,000 to $561,000 or €390,000 to €510,000), and luxury houses in premium suburbs at A$3,000,000 and above ($2,000,000+ or €1,800,000+).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Australia in 2026?
In Australia in 2026, new-build properties typically sell for 5% to 15% more than comparable existing homes.
This premium reflects higher construction costs, modern energy efficiency standards, newer amenities, and the appeal of lower immediate maintenance expenses for buyers.
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How do property prices vary by neighborhood in Australia in 2026?
In Parramatta, located in Sydney's west, you will find a mix of apartments and family homes with prices ranging from A$550,000 to A$1,200,000 ($360,000 to $790,000 or €330,000 to €720,000). Parramatta offers strong transport links to the Sydney CBD and is popular with commuters seeking more affordable options than inner-city suburbs.
In Bondi, one of Sydney's most iconic beachside suburbs, properties range from A$1,200,000 to A$4,000,000 ($790,000 to $2,640,000 or €720,000 to €2,400,000), with apartments dominating the market. The premium pricing reflects the lifestyle appeal of beach access, cafes, and proximity to the city.
In Mosman, a prestigious North Shore suburb, luxury family homes and high-end apartments range from A$2,500,000 to A$8,000,000 ($1,650,000 to $5,280,000 or €1,500,000 to €4,800,000). Mosman commands these prices due to harbour views, top schools, and leafy streets in one of Sydney's most established prestige areas.
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:
| Neighborhood | Profile | Price Range (AUD / USD) | Per sqm (AUD / USD) | Per sqft (AUD / USD) |
|---|---|---|---|---|
| Parramatta | Commute / Value | A$550k-A$1.2m / $360k-$790k | A$7k-A$12k / $4.6k-$7.9k | A$650-A$1,115 / $430-$735 |
| Liverpool | Value / Family | A$500k-A$1.1m / $330k-$725k | A$6k-A$10k / $4k-$6.6k | A$560-A$930 / $370-$615 |
| Blacktown | Value / Family | A$520k-A$1.15m / $340k-$760k | A$6k-A$10k / $4k-$6.6k | A$560-A$930 / $370-$615 |
| Ryde | Commute / Family | A$850k-A$2m / $560k-$1.32m | A$9k-A$14k / $5.9k-$9.2k | A$835-A$1,300 / $550-$860 |
| Strathfield | Family / Schools | A$1.1m-A$2.8m / $725k-$1.85m | A$10k-A$16k / $6.6k-$10.6k | A$930-A$1,485 / $615-$980 |
| Newtown | Popular / Lifestyle | A$900k-A$2.5m / $590k-$1.65m | A$12k-A$20k / $7.9k-$13.2k | A$1,115-A$1,860 / $735-$1,230 |
| Surry Hills | Commute / Lifestyle | A$950k-A$3m / $625k-$2m | A$14k-A$22k / $9.2k-$14.5k | A$1,300-A$2,045 / $860-$1,350 |
| Zetland | Popular / Apartments | A$850k-A$1.8m / $560k-$1.19m | A$12k-A$18k / $7.9k-$11.9k | A$1,115-A$1,675 / $735-$1,105 |
| Chatswood | Family / Expat | A$1m-A$4m / $660k-$2.64m | A$12k-A$20k / $7.9k-$13.2k | A$1,115-A$1,860 / $735-$1,230 |
| Manly | Lifestyle / Beach | A$1.1m-A$3.5m / $725k-$2.31m | A$14k-A$24k / $9.2k-$15.8k | A$1,300-A$2,230 / $860-$1,470 |
| Bondi | Lifestyle / Beach | A$1.2m-A$4m / $790k-$2.64m | A$16k-A$28k / $10.6k-$18.5k | A$1,485-A$2,600 / $980-$1,720 |
| Mosman | Luxury / Family | A$2.5m-A$8m / $1.65m-$5.3m | A$18k-A$35k / $11.9k-$23.1k | A$1,675-A$3,250 / $1,105-$2,145 |
How much more do you pay for properties in Australia when you include renovation work, taxes, and fees?
In Australia in 2026, buyers typically pay an additional 5% to 12% on top of the purchase price when accounting for stamp duty, legal fees, inspections, and any immediate renovation work.
For a property priced around $200,000 (approximately A$300,000), you would likely pay an extra A$15,000 to A$36,000 in fees and costs, bringing your total to around A$315,000 to A$336,000. This includes conveyancing, building inspections, and potentially reduced stamp duty if you qualify as a first-home buyer in a regional area.
For a property priced around $500,000 (approximately A$750,000), expect to add A$37,500 to A$90,000 in additional costs, for a total outlay of roughly A$787,500 to A$840,000. At this price point, stamp duty becomes a more significant expense, varying by state.
For a property priced around $1,000,000 (approximately A$1,500,000), additional costs would range from A$75,000 to A$180,000, bringing the total to between A$1,575,000 and A$1,680,000. At this level, stamp duty alone can exceed A$60,000 in some states, plus buyers often budget for upgrades or light renovations.
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
| Expense | Category | Estimated Cost Range (AUD / USD) |
|---|---|---|
| Transfer duty (stamp duty) | Taxes | Approximately 3% to 6%+ of the purchase price, varying significantly by state and whether you are a first-home buyer or investor. For example, a A$900,000 property in NSW could incur around A$35,000 to A$40,000 in stamp duty ($23,000 to $26,400). |
| Conveyancing and legal fees | Fees | A$1,500 to A$4,000 ($1,000 to $2,640). This covers the legal work required to transfer property ownership, including contract review and settlement coordination. |
| Building and pest inspection | Fees | A$500 to A$1,500 ($330 to $990). Essential for identifying structural issues or pest damage before purchase, and often required by lenders. |
| Strata report (for apartments) | Fees | A$200 to A$500 ($130 to $330). Reviews the financial health and minutes of the owners corporation, revealing any upcoming special levies or disputes. |
| Mortgage application and bank fees | Fees | A$0 to A$1,000+ ($0 to $660+). Some lenders waive these fees, while others charge for loan establishment and property valuation. |
| Lenders mortgage insurance (LMI) | Fees | 0% to 3%+ of the loan value, depending on your deposit size. LMI applies if your deposit is less than 20% and can add thousands to your upfront costs. |
| Immediate repairs (paint, fixtures) | Renovation | A$5,000 to A$30,000 ($3,300 to $19,800). Basic cosmetic updates like fresh paint, new light fittings, or floor refinishing to make the property move-in ready. |
| Medium renovation (kitchen or bathroom) | Renovation | A$30,000 to A$120,000 ($19,800 to $79,200). A more substantial upgrade such as a new kitchen, bathroom renovation, or both, which many buyers undertake soon after purchase. |
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 $100,000 (approximately A$150,000), there is very limited mainstream market activity in Australia; you might find a very small regional unit or retirement-style property in remote areas, but this budget is generally below typical housing entry points in most Australian markets.
With $200,000 (approximately A$300,000), you could purchase an older studio or one-bedroom unit in a small regional town, a very small apartment in a lower-demand fringe location of a cheaper capital city, or occasionally a basic one-bedroom in a remote area.
With $300,000 (approximately A$450,000), you could buy an existing one-bedroom apartment of around 45 to 55 square meters in an outer suburban area of Adelaide, an existing two-bedroom unit in a regional center like Geelong or Townsville, or an entry-level apartment in a newer fringe estate with size and location trade-offs.
With $500,000 (approximately A$750,000), you could purchase an existing two-bedroom apartment in a middle-ring suburb of Brisbane or Adelaide, a small older house in an outer-suburban growth corridor of a major city, or a solid family unit or townhouse in a regional city with good employment and amenities.
With $1,000,000 (approximately A$1,500,000), you could buy a three-bedroom family house in many middle-ring suburbs outside Sydney's most expensive areas, a two-bedroom apartment in inner Sydney (though not premium beach or harbour locations), or a quality townhouse or terrace in established suburbs of Melbourne or Brisbane.
With $2,000,000 (approximately A$3,000,000), you could purchase a premium family house in a strong school-zone suburb of Sydney or Melbourne, a high-end apartment in a blue-chip suburb like Mosman or Toorak, or an entry-level luxury home in a prestige lifestyle location with good land and views.
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 | Why It Is Authoritative | How We Used It |
|---|---|---|
| Australian Bureau of Statistics (Total Value of Dwellings) | ABS is Australia's official statistics agency and its housing stock estimates are the national reference point for dwelling values. | We used this to anchor the national average (mean) dwelling price and verify overall market levels. We also used it to ensure our national figures align with official dwelling-stock aggregates. |
| Australian Bureau of Statistics (Consumer Price Index) | The CPI is Australia's official inflation measure, used by the government and the Reserve Bank for economic policy decisions. | We used this to adjust prices for inflation so that 10-year comparisons reflect real purchasing power changes. We also used it to explain why nominal price growth can feel larger than actual gains. |
| Reserve Bank of Australia (Exchange Rate Data) | The RBA is Australia's central bank and publishes the most reliable public reference for AUD exchange rates. | We used this as our official source for converting AUD figures to USD and EUR. We rounded rates for readability since this article focuses on housing rather than currency trading. |
| Bank for International Settlements (Nominal Property Price Index via FRED) | BIS compiles internationally comparable housing price indicators from national sources using transparent and consistent methodology. | We used this to estimate 10-year nominal price growth across Australia's major cities. We also used it as a cross-check so our long-run analysis does not depend on a single private index. |
| Bank for International Settlements (Real Property Price Index via FRED) | This inflation-adjusted companion to the BIS nominal index is designed specifically to measure real price changes over time. | We used this to calculate 10-year real (inflation-adjusted) growth. We find this is the clearest way to show how much more expensive housing has become in purchasing-power terms. |
| Cotality (formerly CoreLogic AU) Home Value Index | Cotality is Australia's most widely cited housing analytics provider with a documented hedonic methodology for calculating dwelling values. | We used this to understand how median value is defined in a hedonic index and to support market context around affordability and supply. We treat it as a high-quality private benchmark alongside official statistics. |
| Reuters (Cotality Summary Report) | Reuters is a major international wire service and this report clearly attributes key data to Cotality's research. | We used this as a quick, citable reference for the national median dwelling value heading into January 2026. We then made small, clearly labeled estimates to express current values. |
| AIHW Housing Data Dashboard | This government-backed dashboard centralizes housing indicators and references primary data sources including CoreLogic indices. | We used this as a navigation and validation point to confirm that Cotality's HVI is an accepted benchmark in public housing reporting. We also used it to align our terminology with public-sector usage. |
| Domain (Suburb Profiles) | Domain is one of Australia's major property portals with detailed suburb-level data and market trend information. | We used Domain's suburb profiles to gather neighborhood-specific price ranges and market characteristics. We cross-referenced this data with other sources to ensure accuracy. |
| Reuters (RBA Rate Commentary) | Reuters provides reliable reporting on Reserve Bank of Australia policy deliberations and economic outlook. | We used this to understand how interest rate expectations are influencing buyer sentiment and price movements. We incorporated this context into our year-over-year price change analysis. |
| State Revenue Offices (NSW, VIC, QLD) | State revenue offices are the official sources for stamp duty rates and first-home buyer concessions in each Australian state. | We used these to calculate transfer duty estimates across different price points. We also used them to explain why buying costs vary significantly depending on which state you purchase in. |
| Australian Property Monitors (APM) | APM provides independent property data and market analysis used by banks and government agencies. | We used APM data to cross-check median prices and suburb-level trends. We also referenced their methodology when calculating price ranges for different property types. |
| Real Estate Institute of Australia (REIA) | REIA is the national professional association representing real estate agents and provides aggregated market statistics. | We used REIA reports to validate our estimates of listing mix by property type. We also referenced their quarterly updates for market sentiment indicators. |
| PropTrack (REA Group) | PropTrack is the data and research division of REA Group, operator of realestate.com.au, with access to extensive listing data. | We used PropTrack for supplementary price indices and suburb-level analysis. We cross-referenced their data with Cotality to ensure consistency in our estimates. |
| SQM Research | SQM Research is an independent property research firm known for its weekly listings counts and asking price indices. | We used SQM data to understand supply-side dynamics in the Australian market. We also referenced their asking price indices when estimating the gap between list prices and sale prices. |
| Housing Industry Association (HIA) | HIA represents Australia's residential building industry and tracks new home construction and building costs. | We used HIA data to estimate the premium for new builds versus existing homes. We also referenced their construction cost indices to explain why new properties command higher prices. |
| Australian Prudential Regulation Authority (APRA) | APRA regulates banks and publishes data on mortgage lending standards and loan-to-value ratios. | We used APRA guidelines to explain how lenders mortgage insurance affects buyer costs. We also referenced their data on lending trends to provide context for market conditions. |
| Master Builders Australia | Master Builders Australia is the national building and construction industry association with data on construction costs. | We used their data to estimate renovation cost ranges for different project sizes. We also referenced their building cost indices when discussing new versus existing property premiums. |
| Australian Institute of Conveyancers | The AIC represents conveyancers nationally and provides guidance on typical conveyancing fees across states. | We used their fee guides to estimate legal and conveyancing costs for property transactions. We also referenced their advice on typical settlement timeframes and processes. |
| Strata Community Association | SCA represents the strata management industry and provides guidance on strata report costs and levies. | We used their resources to estimate strata inspection report costs for apartment buyers. We also referenced their data on typical strata levy ranges across different building types. |
| Australian Taxation Office (ATO) | The ATO is the official government agency for taxation and provides guidance on property-related tax obligations. | We used ATO resources to understand capital gains tax implications and foreign buyer surcharges. We also referenced their data on property investor taxation trends. |
| Foreign Investment Review Board (FIRB) | FIRB regulates foreign investment in Australian real estate and publishes data on approval fees and requirements. | We used FIRB guidelines to understand additional costs that foreign buyers face. We also referenced their approval statistics to provide context on international buyer activity. |
| Australian Bureau of Statistics (Building Approvals) | ABS building approvals data tracks new residential construction pipeline across Australia. | We used this to understand supply constraints contributing to price growth. We also referenced the data when explaining regional variations in new construction availability. |
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