Housing in Australia

Australia offers a great variety of housing options, from large stand-alone houses in suburban areas, to apartments situated in metropolitan inner city areas.

In recent years demand for apartment living in Australia's major cities has increased dramatically, however concentrations of high-rise residential areas remain a rarity. Lifestyle alternatives are also well catered for throughout Australia, with an abundance of rural living opportunities available outside of the main city areas.

Australia's high home ownership rates reflect the desire of most Australians to own their own home. The typical Australian home consists of three to four bedrooms, a combined lounge/dining room, kitchen, bathroom, toilet and separate laundry room. Many homes also have their own garden area and swimming pool. A combination of timber and brick dwellings provides character and personality in most neighbourhoods.

House prices in Australia

House prices vary throughout Australia, with Sydney being the most expensive city when it comes to purchasing property. Inner city prices are generally higher, while in most instances houses in smaller urban and rural areas are less expensive.

As in most parts of the world, residential properties that are close to cities or have lifestyle advantages such as sea views will generally cost more than similar properties without these benefits. In recent years many parts of Australia have experienced a sharp rise in house prices, yet despite this boom houses in Australia are still considered to be cheaper than in the UK.

Examples of median house prices in the main cities:

  • Sydney: $523,000
  • Melbourne: $352,000
  • Adelaide: $321,000
  • Brisbane: $339,000
  • Perth: $455,000
  • Darwin: $332,000
  • Hobart: $243,000

Source: Australian Property Monitors - 25 July 2006.

Rental prices in Australia

Upon arrival in Australia it is often wise to rent a home prior to purchasing. Renting gives you the opportunity to get a feel for an area prior to committing to purchasing. It also allows you to take the time to become familiar with the Australian property market.

The 'To Let' columns in major newspapers are a good place to start looking for rental accommodation, as are local real estate offices and letting centres.

Examples of median weekly rental rates for a 3 bedroom house in Australia's main cities are provided below.

  • Sydney: $270
  • Melbourne: $240
  • Adelaide: $235
  • Brisbane: $285
  • Perth: $260
  • Darwin: $305
  • Hobart: $250

Source: Real Estate Institute of Australia - September 2006.

Migrant eligibility for buying property

Migrants who have been granted permanent residence visas are able to purchase property on the same terms as Australian citizens. In general, temporary residents seeking to purchase a home in Australia will must seek prior approval from the Australia's Foreign Investment Review Board (FIRB).