Sydney is Australia’s most expensive property market. In April 2026, the median dwelling price in Greater Sydney is approximately $1,450,000 for houses and $840,000 for units. To buy the median Sydney house on a single income, you need approximately $220,000–$260,000 gross per year — far above the average Australian wage.
Sydney Median Property Prices (April 2026)
| Property type | Approximate median price | Source |
|---|---|---|
| Houses — Greater Sydney | ~$1,450,000 | CoreLogic / ABS estimates |
| Units — Greater Sydney | ~$840,000 | CoreLogic / ABS estimates |
| Houses — Sydney inner ring (≤10km from CBD) | ~$2,200,000–$3,500,000+ | CoreLogic area data |
| Houses — Sydney middle ring (10–25km) | ~$1,500,000–$2,000,000 | CoreLogic area data |
| Houses — outer ring / outer west (25–50km) | ~$900,000–$1,300,000 | CoreLogic area data |
| Units — outer ring / satellite cities | ~$550,000–$750,000 | CoreLogic area data |
Prices are approximate and based on published data and indices available at April 2026. Property markets are dynamic — verify current listings and sales data.
Income Required by Property Type
| Property type | Price (est.) | 20% deposit | Loan | Monthly repayment (6%) | Income needed |
|---|---|---|---|---|---|
| Sydney median house | $1,450,000 | $290,000 | $1,160,000 | $6,954 | ~$210,000–$250,000 |
| Sydney median unit | $840,000 | $168,000 | $672,000 | $4,030 | ~$125,000–$150,000 |
| Outer Sydney house (~$1.1M) | $1,100,000 | $220,000 | $880,000 | $5,276 | ~$160,000–$190,000 |
| Satellite city house (~$800k) | $800,000 | $160,000 | $640,000 | $3,836 | ~$120,000–$140,000 |
| Outer unit / apartment (~$650k) | $650,000 | $130,000 | $520,000 | $3,118 | ~$100,000–$120,000 |
Repayments based on 6.00% p.a. interest rate, 30-year principal & interest loan. Income requirements assume APRA 3% buffer assessment (9.00%) and moderate living expenses.
Sydney Affordability by Suburb Tier
Inner Sydney (≤10km from CBD)
Suburbs: Surry Hills, Newtown, Glebe, Redfern, Mosman, North Sydney, Bondi, Paddington, Balmain
- Median house price: $2,200,000–$4,000,000+
- Income required (single): $350,000–$600,000+
- Income required (couple): $450,000–$700,000+
- Reality: Accessible primarily to very high income earners or those with significant existing equity.
Middle Ring (10–25km from CBD)
Suburbs: Parramatta, Hornsby, Ryde, Strathfield, Penrith (approx.), Bankstown, Liverpool
- Median house price: $1,200,000–$1,900,000
- Income required (single): $185,000–$280,000
- Income required (couple): $240,000–$350,000
- Reality: Accessible for dual high-income couples; very challenging on a single income.
Outer Ring / Growth Corridors (25–50km+)
Suburbs: Penrith, Blacktown, Campbelltown, Macarthur, Western Sydney corridors
- Median house price: $850,000–$1,200,000
- Income required (single): $130,000–$180,000
- Income required (couple): $170,000–$230,000
- Reality: The most accessible house market within Greater Sydney.
Satellite Cities and Regional NSW
Newcastle, Wollongong, Central Coast, Blue Mountains, Hunter Valley
- Median house price: $700,000–$1,000,000
- Income required (single): $110,000–$150,000
- Income required (couple): $150,000–$200,000
- Commuting: 60–90 min from Sydney CBD; many residents work remotely or hybrid.
Deposit Requirements in Sydney
Saving for a Sydney property takes significant time at average income levels.
| Purchase price | 20% deposit | Stamp duty (NSW, non-FHB) | Total savings needed |
|---|---|---|---|
| $800,000 | $160,000 | ~$31,335 | ~$195,000 |
| $1,000,000 | $200,000 | ~$40,335 | ~$247,000 |
| $1,200,000 | $240,000 | ~$51,490 | ~$298,000 |
| $1,500,000 | $300,000 | ~$66,485 | ~$374,000 |
First Home Buyer Concessions in NSW:
- Stamp duty exemption: properties up to $800,000
- Concessional stamp duty: $800,001–$1,000,000
- First Home Guarantee: up to $900,000 (5% deposit, no LMI)
- First Home Owner Grant: $10,000 for new builds up to $600,000
For many Sydney buyers, the FHB exemption at $800,000 is strategically significant — properties priced just under $800,000 are particularly attractive for first home buyers.
How Long Does It Take to Save in Sydney?
Assuming a couple earns $150,000 combined and saves 20% of net income (~$25,000–$30,000/year):
| Property price | Deposit + costs | Years to save |
|---|---|---|
| $800,000 | ~$195,000 | 6–8 years |
| $1,000,000 | ~$247,000 | 8–10 years |
| $1,500,000 | ~$374,000 | 12–15 years |
In a market that grows 3–5% per year, savings targets also increase over time — the “target” may grow faster than savings accumulate.
Strategies for Sydney Buyers
Target the First Home Guarantee. For singles up to $125,000 and couples up to $200,000 income, the First Home Guarantee enables buying with 5% deposit, no LMI, on properties up to $900,000 in NSW.
Consider units before houses. Sydney unit prices ($840,000 median) are significantly more accessible than houses ($1,450,000 median). A unit at $700,000–$800,000 is within reach for couples on $120,000–$150,000 combined, while providing a foothold in the market.
Explore outer suburbs and satellite cities. Newcastle, Wollongong, and the Central Coast offer substantially lower entry prices with rail connections to Sydney (1–1.5 hours).
Leverage equity from an existing property. Many Sydney buyers use equity from an existing property (often received through a parental guarantee or inherited) to reduce the deposit requirement.
Rentvesting. Buy an investment property in a more affordable market while continuing to rent in Sydney. This enters the property market sooner and builds equity for a future Sydney purchase.
FAQ
What salary do you need to buy in Sydney in 2026?
For the median Sydney house (~$1,450,000), a single buyer needs approximately $220,000–$260,000 gross income (with a 20% deposit). For more accessible entry points — a $700,000–$800,000 unit or satellite city house — a single income of $110,000–$140,000 is more realistic.
Is Sydney affordable for first home buyers?
Inner and middle-ring Sydney is largely unaffordable for average-wage first home buyers in 2026. Outer Sydney suburbs, the $700,000–$900,000 unit market, and satellite cities (Newcastle, Wollongong, Central Coast) offer more accessible entry points, especially combined with FHB concessions.
Should I rent or buy in Sydney?
Sydney’s rental yields are low (approximately 2.8–3.5% gross) and purchase prices are high, meaning the pure financial case for buying (vs renting and investing) is not always clear. See our rent vs buy Sydney analysis for a full comparison.
Property prices are approximate and based on publicly available data at April 2026. For advice tailored to your situation, speak with a licensed mortgage broker or financial adviser. Find one through MoneySmart.