Australia House Prices, Rents & Rental Yields (2026)
How much property costs in Australia, what it rents for and how that compares with neighbouring markets in Oceania. City-centre prices per m² rank 1 of 2 in this comparison; gross yields rank 1 of 2.
- Apartment price per m² (city centre)
- $7,383
- 2023
- Apartment price per m² (outside centre)
- $5,414
- 2023
- Gross rental yield (city centre)
- 3.7%
- 2024
- Price-to-income ratio
- 11
- 2024
- Rent: 1-bedroom, city centre
- $1,518/mo
- 2023
- Mortgage interest rate (20-year fixed)
- 5.9%
- 2023
Price and rent trends in Australia
Latest property market indicators
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Apartment price per m² (city centre)Average asking price per square metre to buy an apartment in city centres | $7,383 | 2023 | +1.6% vs 2022 | Numbeo |
| Apartment price per m² (outside centre)Average price per square metre to buy an apartment outside city centres | $5,414 | 2023 | -0.4% vs 2022 | Numbeo |
| Price-to-income ratioMedian apartment price divided by median annual disposable family income | 11 | 2024 | +46.7% vs 2023 | Numbeo |
| Gross rental yield (city centre)Annual rent as a percentage of purchase price, city-centre apartments | 3.7% | 2024 | -0.9 pp vs 2023 | Numbeo |
| Price-to-rent ratio (city centre)Purchase price divided by annual rent, city-centre apartments | 26.7 | 2024 | +22.5% vs 2023 | Numbeo |
| Rent: 1-bedroom, city centreAverage monthly rent of a one-bedroom apartment in the city centre | $1,518/mo | 2023 | -4.1% vs 2022 | Numbeo |
| Rent: 1-bedroom, outside centreAverage monthly rent of a one-bedroom apartment outside the centre | $1,204/mo | 2023 | -2.5% vs 2022 | Numbeo |
| Rent: 3-bedroom, city centreAverage monthly rent of a three-bedroom apartment in the city centre | $2,496/mo | 2023 | -7.2% vs 2022 | Numbeo |
| Rent: 3-bedroom, outside centreAverage monthly rent of a three-bedroom apartment outside the centre | $1,816/mo | 2023 | -2.2% vs 2022 | Numbeo |
| Mortgage interest rate (20-year fixed)Average yearly mortgage interest rate, 20-year fixed | 5.9% | 2023 | +1.7 pp vs 2022 | Numbeo |
| Home ownership rateShare of owner-occupied dwellings | 66.0% | 2024 | ±0.0 pp vs 2020 | Trading Economics |
Year-by-year data
| Year | Apartment price per m² (city centre) | Apartment price per m² (outside centre) | Price-to-income ratio | Gross rental yield (city centre) | Price-to-rent ratio (city centre) | Rent: 1-bedroom, city centre | Rent: 1-bedroom, outside centre | Rent: 3-bedroom, city centre | Rent: 3-bedroom, outside centre | Mortgage interest rate (20-year fixed) | Home ownership rate |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | — | — | 11 | 3.7% | 26.7 | — | — | — | — | — | 66.0% |
| 2023 | $7,383 | $5,414 | 7.5 | 4.6% | 21.8 | $1,518/mo | $1,204/mo | $2,496/mo | $1,816/mo | 5.9% | — |
| 2022 | $7,263 | $5,437 | 7.2 | 4.1% | 24.4 | $1,583/mo | $1,234/mo | $2,691/mo | $1,857/mo | 4.2% | — |
| 2021 | $8,539 | $5,203 | 7.4 | 4.3% | 23.3 | $1,532/mo | $1,187/mo | $2,616/mo | $1,805/mo | 3.0% | — |
| 2020 | $5,905 | $3,999 | 7.5 | 4.5% | 22.4 | $1,256/mo | $952/mo | $2,158/mo | $1,482/mo | 3.4% | 66.0% |
| 2019 | $6,220 | $4,545 | 7.6 | 4.6% | 21.7 | $1,320/mo | $995/mo | $2,220/mo | $1,497/mo | 4.1% | — |
| 2018 | $6,148 | $4,448 | 7.4 | 5.0% | 20.1 | $1,413/mo | $1,060/mo | $2,387/mo | $1,543/mo | 4.5% | 66.2% |
| 2017 | $6,158 | $4,193 | 9.2 | 4.9% | 20.4 | $1,405/mo | $1,047/mo | $2,304/mo | $1,582/mo | 4.4% | — |
Australia compared with Oceania
| Country | Apartment price per m² (city centre) | Gross rental yield (city centre) | Price-to-income ratio | Mortgage interest rate (20-year fixed) |
|---|---|---|---|---|
| Australia | $7,383 | 3.7% | 11 | 5.9% |
| New Zealand | $6,883 | 3.4% | 10.5 | 6.8% |
Related
- Properties for sale in Australia (8,891)
- Mortgages in Australia for foreigners
- Australia market overview
- Tax rates in Australia
Prices, rents, yields and mortgage rates: Numbeo (crowd-sourced, national averages of city data). Values in US dollars.