Australia · Oceania · Population: 5,300,000
Sydney is a challenging market for first-time buyers, with rapidly rising prices driven by strong demand. The city has one of the most expensive rental markets. At $850,000 average home price in Australia, buyers should consider the 11.5x price-to-income ratio when planning a purchase.
| Average Home Price | $850,000 |
| Price per sqm | $11,000 |
| Price-to-Income Ratio | 11.5x |
| Mortgage Rate | 6.2% |
| 1-Year Price Change | +5.5% |
| 1-Bedroom Apartment | $2,800/mo |
| 3-Bedroom Apartment | $4,000/mo |
| Rent-to-Income Ratio | 38% |
| Median Household Income | $74,000/year |
| Years to Buy (at median income) | 11.5 years |
| Local Currency | AUD |
With a price-to-income ratio of 11.5x, Sydney requires significant savings to purchase property. At a mortgage rate of 6.2%, monthly payments could consume a large share of income. Home prices have increased 5.5% in the past year.
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Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
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