Sydney, Australia
Property prices · 2024 · Oceania
Property price trend in Sydney (2024–2026)
Property comparison — cities in Australia (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Sydney |
|---|---|---|---|---|
| Sydney | AUD 18,500 | AUD 11,500 | AUD 2,800 | — |
| Melbourne | AUD 14,500 | AUD 9,200 | AUD 2,200 | -21.6% |
| Canberra | AUD 11,000 | AUD 7,200 | AUD 2,200 | -40.5% |
| Gold Coast | AUD 10,200 | AUD 6,700 | AUD 2,100 | -44.9% |
| Brisbane | AUD 9,800 | AUD 6,500 | AUD 1,800 | -47% |
| Adelaide | AUD 8,500 | AUD 5,600 | AUD 1,900 | -54.1% |
| Perth | AUD 7,800 | AUD 5,200 | AUD 1,600 | -57.8% |
Other Oceania cities (2024)
Frequently asked questions
How much does property cost in Sydney in 2024?
In Sydney, the average price per sqm in the city centre is AUD 18,500, and AUD 11,500 outside the centre (2024 data). Prices have risen 7% since 2024.
How much is rent in Sydney in 2024?
A 1-bedroom apartment in Sydney rents for approximately AUD 2,800 per month in 2024. A 3-bedroom apartment costs around AUD 5,200/month.
Is it better to buy or rent in Sydney?
Renting is generally more cost-effective in Sydney. The price-to-rent ratio is 26.0x — it would take approximately 26.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 6.20%.
What are mortgage rates in Australia in 2024?
The average mortgage rate in Australia is approximately 6.20% as of 2024. With a price-to-rent ratio of 26.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Sydney?
The average property price per square metre in Sydney city centre is AUD 18,500 in 2024. Outside the centre, expect to pay around AUD 11,500/sqm.