Everything to know before renting or buying a house in Australia

Are you considering moving to Australia? Or eyeing a new home interstate? Or maybe you’re leaving home and searching for somewhere to rent. You’ve come to the right place.
Moving house can be stressful and expensive. But with the right information, you can make an informed decision on where you’ll settle and the funds you’ll need to make it happen.
In this guide, we’ll explore the cost of living in Australia and outline what’s involved in renting or buying a house for both Australians and those keen to call Australia home.
We’ll also do a deep dive on the best places to live in Australia, including its capital cities and regional towns, to help you narrow down your options. After all, when it comes to moving house, the more research you do upfront, the better prepared you’ll be – especially if you want to avoid a blowout in your moving budget.
If you’re looking to rent or buy a house anywhere in Australia, start by exploring areas that interest you. An easy way is to review detailed suburb profile reports covering information such as estimated property values, suburb trends and demographics. It’s also worthwhile to consider transport options in the areas you’re looking at and, if you’re working, how you’ll manage the commute. With kids, proximity to good schools is important – the Australian Government’s My School website is a great resource for information.
We’ve also included in this article a list of cities in Australia, with useful information on their climates, top employment sectors and more.
If you’re planning on renting, your rent payment will likely be one of your heftiest living expenses. And how much you’ll pay will largely depend on your location and the size of home you need. To help you find a place that suits your budget, lifestyle and needs, here are some key considerations…
Looking for a new place or planning an interstate move? In 2025 here's what you can expect to pay for a rental home.*
*Source: CoreLogic Quarterly Rental Review, January 2025
City | Median Weekly Rental Price |
---|---|
Darwin | $636/week |
Brisbane | $658/week |
Sydney | $773/week |
Canberra | $667/week |
Hobart | $554/week |
Melbourne | $604/week |
Adelaide | $611/week |
Perth | $695/week |
Once you’ve found a rental property that ticks all the boxes, you can put in an application. It’s best to always assume that multiple people will be applying to rent it, so having your paperwork prepared in advance (even before inspecting the home) is a good idea.
Generally speaking, you’ll need to provide the following:
If your application is accepted, you’ll need to sign a lease and pay a deposit (usually one to four weeks’ rent), as well as a rental bond. Your bond will usually be the equivalent of four weeks’ rent, so make sure you’ve budgeted for this expense. Remember, though, you’ll get your bond back at the end of the lease – unless there’s damage to the property or unpaid rent.
Also keep in mind that rental properties in Australia tend to be unfurnished, so you’ll need to consider the cost of buying furniture or moving what you already own with you.
Managing your finances while renting is crucial to ensure you don’t fall behind in payments. To help you track your incomings and outgoings, make use of a Budget Planner – you might even identify some potential savings! The Westpac App is another great budgeting tool, letting you track your spending, split group expenses and set savings goals.
Buying your first home is a major milestone, and there’s plenty to consider and learn along the way. To help get you started, here’s some useful information on the cost of buying a property and the process involved, as well as some handy tools to simplify the process.
CoreLogic statistics released in January 2025 mark Sydney dwellings (including houses and units) as the most expensive in Australia with a median value of about $1.19m, while a dwelling in Darwin is the cheapest at about $497k median value.
Median prices land at more than $800k for a dwelling in Brisbane ($890k), Canberra ($844k), Adelaide ($814k) and Perth ($813k). A dwelling costs slightly less in Melbourne at $774k, and around $651k in Hobart.
Of course, property prices can vary within city suburbs, depending on factors such as proximity to amenities, housing type and size, crime levels and commute times. So, research widely to find a place that fits your needs and budget.
Found your dream home and want to make it yours? It’s time to start planning your finances. First, you’ll need to save a deposit – 20% of the full value of the property is a good amount to aim for.
For most people, a home loan will cover the remaining balance of the purchase price. The Australian Government’s MoneySmart website recommends considering the interest rate when looking for a good home loan deal and factoring in “breathing room” in your budget. For example, think about how your repayments would change if interest rates rose by 2% to make sure you can cover the increase.
Now for the fun part – either bid at the property auction or, if there isn’t one, simply make an offer. If buying at auction, remember that the sale is final and not subject to finance or a building/pest inspection (though you may arrange these inspections beforehand).
If you've made a conditional offer, it’s time to schedule a professional building and pest inspection to make sure the property is structurally sound and free of termites.
If everything checks out, you’ll finalise your loan, pay the deposit, set a settlement date and sign the contract – it’s a good idea to have a solicitor or conveyancer help you with this. Keep in mind, there’s also a state government property-transfer tax (stamp duty) due within 30 days of settlement.
All that’s left then is to protect your new place with home and contents insurance, and move in!
Book an appointment with one of our Home Loan Specialists for personalised guidance and make use of our Home Loan Calculators and Tools. You may even be eligible for a First Home Owners’ Grant. And don’t forget to consult a Moving House Checklist for an organised, stress-free move.
Planning on settling in Australia? Before you start searching for a home, there are laws on buying a house in Australia if you’re not a permanent resident currently living here. So, you might consider renting a house to begin with.
Moving to a new country is an exciting adventure and finding the perfect place to live is an important step in making it feel like home. Here are three tips to help you set yourself up for success.
1. Know your budget
Consider what you’ll be earning when you arrive in Australia and your day-to-day expenses (food, petrol, travel), then work out what’s left over for rent. Rental prices in Australia generally don’t include utilities such as electricity, gas and internet, so make sure you factor in these costs.
2. Prepare your documents
Be ready to quickly apply for any properties that appeal to you. Make sure you have:
3. Consider your options
House sharing – which means sharing a leased property with other tenants – could be a great way to help you get settled in Australia. Not only does this make rent more affordable, but it also gives you a chance to build your local rental history. It’s also a fun way to meet new people and create a support network. Just search the internet for a list of useful websites designed to help you find potential housemates in Australia.
Moving to Australia from abroad? You’ll need to sort out your Australian banking, which is easier than you’d think. With Westpac (Australia’s oldest bank), you can open an everyday bank account online and transfer money into your new account straight away. Just make sure you drop in at one of our branches when you arrive in Australia as you’ll need to verify your ID before you start using your new account.
To help you choose the best cities in Australia for you and your family, here’s some useful information to get you started…
If you’re looking for big city lights, proximity to world-class beaches and cultural diversity, then put New South Wales capital Sydney on your list – it sits seventh on the Global Liveability Index 2024 of the world’s most liveable cities.
With a temperate climate and plenty of sunny days, Sydney is perfect for an outdoor lifestyle. You can expect temperatures to range between an average of 18.6°C and 25.8°C in summer (December-February), and an average of between 8.8°C and 17°C in winter (June-August).
Sydney has six universities included in the QS World University Rankings for 2025, with both The University of Sydney and the University of New South Wales featuring in the global top 20.
Sydney is often voted the best Australian capital city for access to public transport. In fact, the Climate Council found that 67% of Sydneysiders have easy access to frequent public transport services. Options include light rail, ferries and buses, and you can pay using a pre-paid Opal card or any contactless-enabled credit or debit card.
The top five employing industries in Sydney are health care and social assistance; retail trade; construction; professional, scientific and technical services; and manufacturing.
There are plenty of reasons to consider a move to Melbourne, Victoria. The culinary capital of Australia, the city is also famous for its thriving arts and music scene, iconic sporting venues and vibrant coffee culture. It outperformed Sydney on the Global Liveability Index 2024, coming in fourth.
Melbourne weather can be fickle – often described as having four seasons in one day – but that’s nothing a few extra layers and an umbrella won’t fix. Expect mild, dry winters (June-August) reaching average temperatures of around 6.5°C-14.2°C; and warm, humid summers (December-February), with average temperatures between 14°C and 27°C.
Melbourne has seven universities, with a total of nearly 300,000 students – more than a third from overseas. The University of Melbourne claimed the title of Best Australian University in 2025, with Monash University placed second and La Trobe University and RMIT University both ranked in the top 20 in Australia based on the Times Higher Education World University Rankings.
Public transport is the easiest way to get around the bustling city, with options including trams, buses and trains. Pay using a pre-paid myki card.
The top five employing industries in the region are professional, scientific and technical services; health care and social assistance; retail trade; education and training; and accommodation and food services.
Relocating to Brisbane in Queensland, the “Sunshine State”, lets you tap into a slightly more laidback lifestyle and lower cost of living than Australia’s larger capital cities (Sydney and Melbourne).
If you’re not a winter person, you’ll likely be a Brisbane person – even its winter temperatures sit around averages of 11°C to 21°C. Sunseekers flock to Brisbane in the summer when average temperatures range from 21°C to 30°C, but expect a summer storm here and there.
Brisbane is home to two main universities: The University of Queensland and the Queensland University of Technology. You’ll also find 10 campuses from six other Australian universities including Griffith University, Australian Catholic University and CQUniversity.
Explore the city or enjoy your daily commute using Brisbane’s bus and train network or the iconic CityCat and Cross River ferry network. The best part? In 2025 fares cost only 50c per journey, no matter how far you travel (excluding CityCat travel). Pay using a pre-paid GoCard or any contactless-enabled credit or debit card.
The top five employing industries in the region are health care and social assistance; construction; retail trade; education and training; and professional, scientific and technical services.
Sun, surf and spectacular sunsets are a Perth speciality. It’s the capital city of Australia’s most western state, Western Australia, with its longest coastline.
Perth is the sunniest capital city in Australia with clear blue skies an incredible 70% of the year. Winter (June-August) is the wettest time of year, with average temperatures from 8°C to 19°C. Summer (December-February) is hot and dry, with maximum average temperatures ranging between 17.5°C and 30°C.
The University of Western Australia is a world top 100 university, ranked first in Western Australia for graduate employability. Curtin University is another popular choice, with campuses in other parts of Western Australia, Malaysia, Singapore, Colombo, Mauritius and Dubai and opportunities for exchange and to study abroad.
Perth has an extensive public transport system of buses, trains and ferries. To use the network, you can buy a pre-paid Transperth SmartRider card.
The top five employing industries in the Perth region are professional, scientific and technical services; health care and social assistance; mining; public administration and safety; and financial and insurance services.
With some of Australia’s cheapest rents, free public transport options and a world-renowned food and wine culture, South Australian capital Adelaide is a savvy option for anyone considering a move.
Adelaide has a Mediterranean-like climate. Prepare for mild, wet winters with average temperatures hovering around 16°C and hot, sunny summers that average around 29°C – but that can reach a scorching 45°C.
Adelaide’s public universities include Flinders University, The University of Adelaide and the University of South Australia. In 2026, The University of Adelaide – ranked in the world's top 100 universities – and University of South Australia will merge to form Adelaide University.
Get around Adelaide via bus, train or tram. You can pay with a rechargeable metroCARD – but it’s definitely worth seeking out one of the many free buses around the CBD.
The top five employing industries in the region are health care and social assistance; retail trade; construction; manufacturing; and education and training. Adelaide is also known as Australia’s “innovation capital” and recently ranked in the top 100 global startup ecosystems.
Australia’s national capital is also its political heart, and home to many federal government employees. An inland city, Canberra is known for its annual Flower Festival, abundance of national parks, and status as the first mainland state or territory to achieve 100% renewable energy.
Living in Canberra, you get to truly experience the beauty of all four seasons. There are few rainy days; temperatures in summer average 27°C and drop to a chilly 12°C average in winter.
Canberra is home to two main universities. The Australian National University is consistently ranked among the top universities globally. The University of Canberra takes the top spot in Canberra for students obtaining full-time employment after study.
Get where you need to go using Canberra’s public buses and light rail. You can pay for public transport using a physical MyWay+ travel card, or you can use a contactless or digital option. Best of all, public transport is free on Fridays!
The top five employing industries in the region are public administration and safety; health care and social assistance; professional, scientific and technical services; construction; and education and training.
Along with its picturesque natural surroundings, slower pace of life, rich heritage and Tasmanian charm, Hobart also has Australia’s lowest rental prices. What’s not to love?
As Australia’s southern-most capital city, Hobart’s winters have some bite, with average temperatures ranging from 5°C to 12°C. While snow is rare in Hobart itself, it can occasionally fall on the higher peaks of Mount Wellington. Throw off the layers in summer when temperatures get back up to an average of 18°C.
Choosing a university to attend in Hobart is simple: there’s only one – University of Tasmania. It’s ranked #1 for climate action globally by Times Higher Education.
Hobart is smaller than most of Australia’s major cities, so you can easily get around using a public bus (you can purchase a Metro GreenCard or buy single tickets on board). Or get active and use any of the many cycling and walking paths in and around the city.
The top five employing industries in the region are health care and social assistance; public administration and safety; education and training; construction; and retail trade.
The tropical capital of the Northern Territory will appeal to anyone seeking a laid-back lifestyle, tight-knit community and plenty of natural beauty. It’s also a melting pot of cultures, strongly influenced by its proud Indigenous heritage that brings vibrant festivals, food and traditions to the city.
Darwin has distinct wet and dry seasons. The “wet” (November-April) brings high humidity, monsoonal rains, storms and average temperatures ranging from 24.7°C to 32°C. The “dry”, from May until October, is characterised by warm, dry and sunny days and cool nights, with average temperatures ranging from 21.6°C to 31.8°C.
Charles Darwin University is one of the most unique in Australia, offering both TAFE and higher education courses. The Good Universities Guide 2024 ranks it at #2 in Australia for postgraduate employment outcomes.
To use the extensive public bus network in Darwin, you can buy a Tap and Ride card or single tickets on board. However, as it’s Australia’s smallest capital city, you might opt to cycle or walk instead.
The top five employing industries in the region are health care and social assistance; public administration and safety; construction; education and training; and retail trade.
There’s more to Australia than just its capital cities and plenty to love about life in its smaller cities and towns. Top of the list: housing affordability. Both renting and buying can be more affordable outside of busy city centres where there tends to be less competition for housing. Here are some other locations to consider:
Located about an hour’s drive from Brisbane in Queensland, the Gold Coast is known for its stunning beaches and thriving tourism industry. Over 50 kilometers of coastline make it a mecca for surfing, snorkelling and swimming.
Sunseekers love the Gold Coast for its sub-tropical climate and 300 days of sunshine per year. Summer average temperatures range from 21°C to 28.4°C and the days can get sticky with humidity around 75-96%. In winter you can expect a more mild average of around 12.5°C to 21.5°C.
Choose from three major universities – Griffith University, Bond University (Australia’s first and largest private university) or Torrens University. The Gold Coast campus is Griffith University’s largest.
Whether you’re on your way to work or study, attending a major event or exploring the city as a visitor, getting around is simple and affordable. Transport options include bus, train, tram and ferry services – and in 2025 fares cost only 50c per journey, no matter how far you travel. Pay using a pre-paid GoCard or any contactless-enabled credit or debit card.
The top five employing industries in the region are health care and social assistance; construction; retail trade; accommodation and food services; and education and training.
The second-largest city in New South Wales behind capital Sydney (just a two-hour drive south), Newcastle is big enough to host bustling restaurants, events and nightlife and small enough for anyone looking to soak up the beautiful beaches, surf, culture and coffee by day.
Enjoy a humid, sub-tropical climate in Newcastle, with warm summers and mild winters. Summer average temperatures range from 20°C to 26°C while during winter, the average daytime temperature hits a high of 18°C and a low of 10°C.
Newcastle is home to one of Australia’s leading universities, the University of Newcastle, with globally in-demand STEM subjects including science, technology, engineering and mathematics.
There are a number of bus, ferry and light rail services operating to help you get around Newcastle easily, and you can pay using a pre-paid Opal card or any contactless-enabled credit or debit card.
The top five employing industries in the region are health care and social assistance; retail trade; construction; accommodation and food services; and education and training.
Just an hour’s drive southwest of Melbourne is Geelong, Victoria’s second-largest city. This scenic waterfront town hosts cultural, sporting and culinary events, with street art, regular Aussie Rules Football at Kardinia Park Stadium, and Pako Festa – the largest free celebration of cultural diversity in Victoria.
Geelong’s weather is very similar to Melbourne’s. The Australian Bureau of Meteorology shows the warmest months of the year are January and February, with an average maximum temperature of 25°C. July is the coldest month, with temperatures averaging a low of 5°C.
Deakin University has two campuses in Geelong – Waterfront and Waurn Ponds. Deakin also houses the Deakin University English Language Institute which offers English language courses, and Deakin College which offers pathway programs to fast-track students into undergraduate and postgraduate degrees.
Travel throughout the city via bus or head into Melbourne on a regular train service. Pay using a pre-paid myki card.
The top five employing industries in the region are agriculture; forestry and fishing; health care and social assistance; retail trade; construction; and education and training.
Launceston is a riverside city in northern Tasmania famed for the Cataract Gorge, with panoramic views and walking trails, plus a thriving food and wine scene and famous markets. It’s the largest city in northern Tasmania and the third oldest in Australia, dating back to 1806.
The weather in Launceston is fairly mild throughout the year, with the occasional sub-zero temperatures during the winter months. The average maximum temperature in summer is a pleasant 23°C.
The University of Tasmania Launceston campus offers a broad range of courses including creative arts, education, humanities and social sciences, business, sport, health, and sciences.
Either pull on your sneakers and use the many cycling or walking paths or hop on the free Tiger Bus, which operates seven days a week throughout the central city district. For any other public bus services you can purchase a Metro GreenCard or buy single tickets on board.
The top five employing industries in the region are health care and social assistance; retail trade; construction; manufacturing; and education and training.
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This information does not take into account your personal circumstances and is general in nature. It is intended as an overview only and it should not be considered a comprehensive statement on any matter or relied upon as such.