Comparing Sydney’s Property Market to Other Australian Cities

Sydney’s property market remains Australia’s most expensive, but emerging trends in cities like Brisbane, Perth, and Adelaide are reshaping the national landscape. At House Hunters, we empower buyers with insights and strategies to navigate these evolving markets confidently.

Key Takeaways

• Sydney: Highest median prices; growth stabilising.
• Brisbane: Rapid appreciation; nearing $1M median.
• Perth & Adelaide: Leading in annual growth rates.
• Melbourne: Experiencing a modest recovery.
• National Outlook: Interest rate cuts may boost buyer activity.

Sydney: Premium Market with Stabilising Growth

Sydney continues to lead with a median house price of $1.66 million, approximately 55.5% above the national average. However, growth has moderated to 0.9% annually.

• Population Growth: Over 650,000 new residents expected by 2034 .
• Interest Rates: Recent cuts by the RBA have improved buyer sentiment.
• For a comprehensive understanding of Sydney’s market, explore our Sydney Buyers Agency services.

Melbourne: Gradual Recovery Amidst Affordability

Melbourne’s median house price stands at $786,158, reflecting a 2.2% annual decline . The city remains an attractive option for buyers seeking value in a major metropolitan area.

Key considerations:

• Affordability: More accessible entry points compared to Sydney.
• Market Dynamics: Stabilising prices may present opportunities for strategic investments.
• Brisbane: Rapid Growth Approaching $1M Median.

Brisbane has experienced an 8.7% annual increase, with median prices nearing $1 million . The city’s appeal is driven by lifestyle factors and relative affordability.

Demand Surge: Increased interest from interstate buyers.

Investment Potential: Strong rental yields and capital growth prospects.

Perth & Adelaide: Leading in Annual Growth

Perth and Adelaide have recorded annual growth rates of 19.1% and 13.1%, respectively . These markets offer compelling opportunities for investors and homebuyers alike.

• Affordability: Lower entry prices compared to eastern capitals.
• Economic Drivers: Resource sectors and infrastructure projects fueling growth.
• National Outlook: Interest Rates and Market Dynamics.

Nationally, house prices increased by 5.1% in 2024, though growth has plateaued in recent quarters . The Reserve Bank’s anticipated rate cuts in 2025 may reinvigorate buyer activity.

Key factors:

• Supply Constraints: Ongoing challenges in meeting housing demand.
• Policy Initiatives: Government programs aimed at improving affordability.
• Partner with House Hunters for Strategic Property Acquisition.

Navigating Australia’s diverse property markets requires expertise and local knowledge. At House Hunters, we offer tailored services to assist you in making informed decisions.

Explore our offerings:

• Full Service Property Search
• Evaluate and Negotiate Only
• Guide to Buying Property in Australia
• Contact us today to schedule your complimentary property strategy consultation.

Regional Markets in Focus

While capital cities draw the headlines, regional Australia has quietly become a strong performer over the past few years. From the NSW Central Coast to Southeast Queensland’s Sunshine Coast, buyer demand has surged due to lifestyle shifts and remote working flexibility.

New South Wales – Beyond Sydney

Key regional hubs such as Wollongong, Newcastle, and the Blue Mountains have recorded strong activity, particularly among upsizers and sea-changers. Newcastle, for example, saw a 7.3% rise in property values in 2024 (Domain, 2024).

Demand here is driven by:

• Better affordability compared to Sydney
• Infrastructure projects like the Newcastle light rail
• Increased rental yields for investors

If you’re interested in buying in these areas, consider our Evaluate & Negotiate Only service to help secure the best deal without a full search commitment.

Queensland’s Lifestyle Boom

Queensland has seen one of the most significant internal migration trends in the country. With Brisbane approaching the $1 million median mark, buyers have turned their attention to Gold Coast, Sunshine Coast, and Toowoomba.

These areas have several advantages:

• Warmer climate and coastal lifestyle
• Lower stamp duty and property taxes
• Strong rental demand driven by tourism and education sectors

For interstate buyers, our Full Service Property Search can help you purchase with confidence even remotely.

What’s Driving Growth Across Cities?

To understand why cities like Perth and Adelaide are surging while Sydney moderates, it’s important to consider the broader economic and demographic forces at play.

Interest Rates & Lending Conditions

The Reserve Bank of Australia’s cash rate cuts in late 2024 are starting to influence buyer behaviour again. With borrowing costs slightly down, more first-home buyers and investors are entering the market.

In cities like Adelaide and Perth where entry prices are lower these rate adjustments carry more weight. Buyers can access better homes or more land with similar financial capacity than they would in Sydney or Melbourne.

Population Shifts

Interstate migration is shaping new real estate patterns. Queensland and Western Australia have both experienced positive net migration since 2020 (ABS). Sydney and Melbourne, by contrast, have seen more outward movement mostly to neighboring regions or other states.

Factors influencing these shifts include:

• Work-from-home trends
• Changing lifestyle priorities post-pandemic
• Affordability pressure in major capitals

Conclusion:

Sydney may still lead in price tags, but the momentum is clearly shifting across Australia. Cities like Brisbane, Perth, and Adelaide are carving out a stronger presence, offering greater value, higher yields, and emerging growth corridors. At House Hunters, we specialise in helping buyers navigate these decisions with confidence. From full-service property searches to negotiation-only support, our local knowledge and buyer-first approach put you in control without the guesswork. Let’s discuss your property goals and match you with the right suburb, the right property, and the right strategy. Visit our Contact Us page to speak with a buyer’s agent today.

FAQs

What is the current median house price in Sydney?

As of the latest data, Sydney’s median house price is approximately $1.66 million.

Which Australian city has the fastest-growing property market?

Perth leads with a 19.1% annual growth rate, followed by Adelaide at 13.1%.

Is Melbourne’s property market recovering?

Yes, Melbourne is showing signs of recovery, with stabilising prices and increased buyer interest.

How do interest rates affect property markets?

Interest rate cuts can enhance borrowing capacity, potentially increasing demand and property prices.

Why choose a buyer’s agent?

A buyer’s agent provides expert guidance, access to off-market properties, and negotiation skills to secure favourable deals.

How can House Hunters assist me?

We offer personalised property search, evaluation, and negotiation services to align with your goals.