The mean price of residential dwellings in NSW ($1,150,400) remains the highest in the country, followed by the ACT ($951,800) and Victoria ($898,300). The lowest mean price is in the Northern Territory ($502,100).
Australia's most expensive suburbs by median house price are all concentrated in Sydney, the most expensive city in Australia, and one of the most expensive in the world.
The Australian state that is cheapest to buy a house is Tasmania, which sits off the southeast coast of the Australian mainland and is the country's smallest state.
Top 10 Most Expensive States to Buy a House in the US
The top 10 most expensive states for home values, according to the Zillow Home Value Index, include Hawaii, California, the District of Columbia, Washington, Massachusetts, Colorado, Utah, Oregon, New Jersey, and Idaho.
Average House Prices in Australia averaged 654.79 AUD Thousand from 2011 until 2022, reaching an all time high of 961.10 AUD Thousand in the second quarter of 2022 and a record low of 486.30 AUD Thousand in the third quarter of 2012. This page includes a chart with historical data for Australia Mean Dwelling Price.
Perth has taken the crown from Adelaide as most affordable capital in Australia. Image: Canva. A new report has officially declared Perth as the most affordable capital city in Australia.
According to worldpopulationreview.com, Hawaii is the most expensive state to live in, with its housing costing three times the national average. New York and California rank as the second and third most expensive states in which to live, respectively.
1. Mississippi. Coming in as the cheapest state to live in in the United States is Mississippi with a cost of living index score of 83.3. It also has the lowest average housing costs in the nation at 33.7% below the national average.
The hottest housing markets include those markets in North Carolina, Colorado and Texas that were also popular during the pandemic, including Raleigh and Durham, Denver and Austin. Markets to watch that improved the most between November and December 2022 include Portland, Oregon, Richmond, Virginia, and St. Louis.
Tasmania as a whole has risen to the top of many property investors lists, mainly because it is affordable compared to Australia's other state capitals, but also due to lifestyle factors which continue to draw people to the Apple Isle.
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.
The cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee. Mississippi is the cheapest state to live in in the US, with a cost of living index of 85. The second cheapest state to live in is Oklahoma, with a cost of living index of 85.8.
Mississippi
Mississippi, “The Magnolia State,” is the birthplace of Elvis Presley and the delta blues. It's also the cheapest state to buy a house in 2023. As of 2020, the total state population was 2,961,279, making it the 32nd most populated state. The most populated city is Jackson, with 153,701 residents.
According to the report, Bermuda is the world's most expensive place to live. Switzerland ranks second on the list (and it's definitely not the only European country), followed by new entrant the Cayman Islands, Bahamas, and Barbados.
The Australian Taxation Office (ATO) analysed the tax returns of more than 15 million Aussies from the 2020-21 financial year to come up with the rich list. Double Bay took out the top spot, living up to its 'Double Pay' nickname, with residents of the 2028 postcode raking in an average annual income of $266,381.
Australian house prices are considerably higher than in many other comparable countries, largely due to factors such as supply and demand imbalance, tax policies, and low-interest rates.
The least expensive suburb or most affordable suburb to buy residential property is Kambalda East, in the east of WA with a median house price of $118,525. The cheapest suburb to purchase a unit was Laguna Quays in Queensland at a rather modest $72,076 (you can buy a decent electric vehicle for that price!)
Canberra – Australia's Capital City
Nestled between Sydney and Melbourne, Canberra is not only the capital but also Australia's safest city. With a low crime rate and a small-town vibe, Canberra offers an attractive blend of city living and peaceful suburban life.
The city of Perth has the best weather/climate in Australia. The city enjoys a temperate Mediterranean climate with hot and dry summers and mild but wet winters. Perth is also the sunniest capital city in Australia and is considered one of the hottest experiencing over 250+ days of sunny blue skies.