The most expensive place for housing in Australia is Sydney. Including utilities, it's 48.51% higher than the cost of Adelaide, which is the least priciest capital city. Monthly rent in a 2 bedroom apartment* is likely to cost you around $671 more a month in Sydney than in Melbourne.
Sitting off the southeast coast of the mainland is Australia's littlest state and cheapest place to live, Tasmania. Its capital city Hobart boasts house prices around 25% lower than the country's average, and purchasers can bag property for 60% less than they would in cities such as Sydney or Melbourne.
Bellevue Hill, Sydney
In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
In May, Melbourne's median house value was 29.6% below Sydney's, a dollar equivalent of roughly $382,500. The percentage of household income spent on rent was also much higher in Sydney than in Melbourne, 31.7% compared with 26%.
The highest number of rich-listers live in the 2088 postcode in Sydney - which includes Mosman and Spit Junction - with 19,707 people earning $188,324, on average. In comparison, there were just 559 people in the 3944 Portsea postcode in Victoria's Mornington Peninsula, earning an average of $229,805 per year.
Of the top 10 richest postcodes, 1 is located in Western Australia, 1 is located in Victoria and the remaining 8 are all located in some of the most exclusive spots across Sydney. At the top of the list is Western Australia's 6011 postcode, which comprises Cottesloe and Peppermint Grove.
The average cost of living in Australia ($2104) is 7% more expensive than in Qatar ($1960). Australia ranked 11th vs 13th for Qatar in the list of the most expensive countries in the world. The average after-tax salary is enough to cover living expenses for 1.8 months in Australia compared to 1.7 months in Qatar.
Gold Coast is one of the cheapest places to live in Australia (89th globally). It is known for its high-standard education and academia and its budget-friendly living. International students will find the Gold Coast the perfect combination of study and social life, with its magnificent beaches and nightlife.
Australian median house prices by capital city
Well, Adelaide is actually Australia's most affordable capital city for renters ($534), while Sydney is the most expensive ($711), according to the latest CoreLogic rental data.
Sydney Is Still Australia's Most Expensive Place To Live, but Melbourne and Brisbane Are Not Far Behind.
Bellevue Hill — $8,750,000
Living in the most expensive area in Sydney comes with a hefty price tag and the median sits at an eye-watering $8.75 million, whereas units average $1.637 million. If you would like to rent a home in Bellevue Hill, get your money bags ready.
Sydney is the only Australian city that made it to the top 10. 126,900 resident millionaires, 184 centi-millionaires, and 15 billionaires live in it. Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse are some of the world's most exclusive residential suburbs, all belonging to Sydney.
For example, 25% of people living in Tasmania and South Australia are in the lowest 20% income group, while 23% of people in Western Australia and around 30% of people in the Territories are in the highest 20% income group.
Every year, at least 50,000 foreign students arrive in Sydney in quest of a better life and education. It has consistently ranked well in terms of employability and quality of life. The city possesses Australia's largest economy and is home to the headquarters of numerous major corporations.
After maintaining the highest standard of community well-being for seven consecutive years, it comes as no surprise that the Australian Capital Territory (ACT) cemented itself as the best place to live in Australia.
The average cost of living in Australia ($2104) is 15% more expensive than in Canada ($1826). Australia ranked 11th vs 15th for Canada in the list of the most expensive countries in the world.
Thankfully, the cost of living is similar to what it is in the US, with a few minor differences. For example, the price of utilities and gasoline are slightly higher, and groceries and restaurants are slightly cheaper. The table below shows the cost of living in Australia compared to the US, measured in US dollars.
Average budget
According to the Numbeo data platform, the cost of living for a family of four in Qatar is estimated at USD 3,103 per month without rent (QAR 11,295.0). Numbeo considers the cost of living in Qatar is 16,3% lower than in France, as of March, 27, 2023.
The presence of leading and ultra-luxury hotels in Qatar, as well as various opulent tourism offerings, makes the country a top luxury and leisure destination in the region, Raffles and Fairmont Hotels Doha managing director Christian Hirt has said.
Skytrax awards: Qatar Airways best airline in world 2021, Qantas eighth | news.com.au — Australia's leading news site.
The 10 most disadvantaged LGAs in order are: Woorabinda (Queensland), Cherbourg (Qld), Belyuen (NT), West Daly (NT), Yarrabah (Qld), Kowanyama (Qld), Wujal Wujal (Qld), East Arnhem (NT), Doomadgee (Qld) and Central Desert (NT).
Australia is the world's top destination for ultra-wealthy individuals because it doesn't have inheritance taxes and favours wealthy foreigners, a global investment migration consultancy says.
What is the most expensive house in the Australia? The most expensive house in Australia is the Scottish baronial mansion, Uig Lodge, which was sold for $130 million in 2022 in Sydney's Point Piper. It is one of the most luxurious houses in Australia.