How Much Does Buying Or Renting Property Cost In Australia

In her article Swati Iyer looks at the cost of living in Australia.  Here we cover the costs related to renting and buying a home and utilities.

Taken from an article written by Swati Iyer for Instarem

 

According to some media reports, housing prices in Australia have consistently fallen between 2017 and 2018, particularly in Melbourne, Perth, Sydney, Brisbane and Hobart. Prices have gone up however in Adelaide, Darwin and Canberra. Despite the downturn in real estate prices, housing is still fairly expensive in Australia as a whole, irrespective of whether you’re looking to buy or rent.

Here’s a quick overview, if you plan to rent a one-bedroom apartment in the city centre (also known as CBD). The monthly rentals are ranged from the most expensive (Sydney) to the least expensive (Hobart):-

  • Sydney, NSW – AUD 2,681.48
  • Melbourne, Victoria – AUD 1,767.60
  • Canberra, ACT – AUD 1,733.26
  • Brisbane, Queensland – AUD 1,726.13
  • Adelaide, South Australia – AUD 1,705.67
  • Gold Coast, Queensland – 1,568.92
  • Darwin, NT – AUD 1,524.35
  • Perth, Western Australia – AUD 1,523.41
  • Hobart, Tasmania – AUD 1,208.33

If your goal is to buy a house, the table below can help you compare prices by the city.  Median prices in 2018:

  • Sydney, NSW
    • All dwellings – AUD 815,000
    • Houses – AUD 925,000
    • Apartments – AUD 700,000
  • Melbourne, Victoria
    • All dwellings – AUD 653,000
    • Houses – AUD 720,000
    • Apartments – AUD 536,000
  • Canberra, ACT
    • All dwellings – AUD 585,000
    • Houses – AUD 683,000
    • Apartments – AUD 415,000
  • Brisbane, Queensland
    • All dwellings – AUD 485,000
    • Houses – AUD 525,000
    • Apartments – AUD 382,500
  • Perth, Western Australia
    • All dwellings – AUD 470,000
    • Houses – AUD 484,000
    • Apartments – AUD 415,000
  • Darwin, NT
    • All dwellings – AUD 460,000
    • Houses – AUD 505,000
    • Apartments – AUD 377,000
  • Adelaide, South Australia
  • Hobart, Tasmania – AUD 1,208.33
    • All dwellings – AUD 462,500
    • Houses – AUD 470,000
    • Apartments – AUD 355,000

For each city, the median price is the middle of a range from highest to lowest. In general, prices tend to be higher for larger houses that are located close to or within CBD.

Some of the most popular suburbs in Australia are:-

  1. Warrandyte, Victoria
  2. Park Orchards, Victoria
  3. Red Hill, Victoria
  4. Crafers, South Australia
  5. Battery Point, Tasmania
  6. Richmond, Tasmania
  7. The Basin, Victoria
  8. North Hobart, Tasmania
  9. Hobart, Tasmania
  10. Albert Park, Victoria

 

How Much Do Utilities Cost in Australia?

The prices of utilities vary quite a bit within Australia. The Northern Territory and its capital Darwin are among the most expensive in terms of electricity, heating, water and garbage collection costs. For example, your utilities bill for an 85m2 apartment in Darwin will set you back by about AUD 304 every month.

A monthly Internet access package would cost a little over AUD 70. Your prepaid mobile tariff is likely to be about AUD 0.11 per minute of usage.

Here’s a quick comparison of these prices (in AUD) for all major Australian cities.

Cost of utilities per month

  • Darwin – AUD 304.66
  • Adelaide – AUD 252.59
  • Perth – AUD 201.63
  • Sydney – AUD 182.19
  • Melbourne – AUD 197.11
  • Hobart – AUD 175
  • Brisbane – AUD 178.63
  • Canberra -AUD 201.34

Mobile phones, cost per minute:

  • Darwin – AUD 0.11
  • Adelaide – AUD 0.18
  • Perth – AUD 0.32
  • Sydney – AUD 0.67
  • Melbourne – AUD 0.18
  • Hobart – AUD 0.11
  • Brisbane – AUD 0.33
  • Canberra -AUD 0.12

Internet access, cost per month:

  • Darwin – AUD 73.11
  • Adelaide – 79.15
  • Perth – AUD 79.59
  • Sydney – AUD 70.01
  • Melbourne – AUD 71.10
  • Hobart – AUD 70
  • Brisbane – AUD 76.59
  • Canberra -AUD 72.48