Sydney is a dream living destination for many with its white sand beaches, warm climate and thriving job market. However, being a city that has it all comes with a pretty big price tag. Being such a sought-after location means that Sydney is one of the most expensive cities in Australia to live in. So, before committing to a move to the NSW capital, it’s important to know exactly what you’re getting into, which means having a full understanding of the cost of living in Sydney. From property prices to the average transport costs, take this as your full guide to understanding how to budget for your relocation to the glistening harbourside life of Sydney.
Average House Prices Sydney
The property market in Sydney has been one of the most challenging parts for those looking to reside there. Areas such as the Eastern Suburbs and North Sydney are particularly costly due to their popularity and premier lifestyle close to beaches. However, areas such as the South West offer varied living options at a much more affordable price.
As property prices rose over the last years, the prospect of buying in Sydney became a dream that was far out of reach for most until more recently. In the previous two months, Sydney housing prices have finally begun to decrease ever so slightly with the median house price falling from $1.65 million to $1.48 million (Domain) (maybe don’t start counting out your pennies just yet). Luckily, 2025 is also set to continue seeing a steady decline, with some even believing that Sydney housing prices could fall by up to 5% in 2025, making it a great time for buyers (AFR).
Rental Costs
Just like Sydney’s house prices, the rental market is also eye-wateringly expensive with the average rental price for a house in Sydney coming in at $1,037.88 a week (SQM). Of course, this is just an average across all of Sydney and costs can vary significantly with rental prices in the most prestigious of areas coming in at double that.
Alternatively, for single individuals or couples looking for a unit in Sydney, the price tag is not quite so harsh with the average rent coming in at $688.21(SQM).
Average Bills per month Sydney
Bills and Utilities and are also another add on to consider when budgeting for your living cost in Sydney. Thankfully after spending all that money getting somewhere to live, household bills are not so scary! In fact, Sydney is even cheaper than some of its East Coast neighbours when it comes to water prices and gas. On average, a household of 4 in Sydney will spend about $273 a month on basic utilities. These average bills per month do not include extras such as phone bills or Wi-Fi but just for basics such as gas, water and electricity.
Of course this varies greatly and if you're the kind of family who likes to each take 30 minute showers with the air conditioning on full blast all day, then you may find that your utilities are a bit more expensive.
How much does a removalist cost Sydney?
If you’re looking to move within the city, then you’ll need the help of professional removalists Sydney to get you started. Coordinating and taking care of your house move, removalists are able to navigate Sydney’s diverse cityscape in large trucks, safely delivering your belongings to their new home. So, how much do removalists cost? With many varying factors, such as the time of year, amount to be moved, accessibility, and more, the cost of removalists can greatly vary. However, local removalists Sydney can cost between $180/hr to $270/hr depending on how many removalists will be required to attend the move. Then if you’re looking for extra services such as packing and wrapping, you can expect an additional charge of roughly $160/hr.
Average Transport cost Sydney
Whether you’re travelling by car or public transport, travel can greatly affect your living cost in Sydney. According to the Australian Automobile Association, households in Sydney pay $486 a week, or nearly $25,300 a year to get around. This takes up 15.5% of the average income. If you’re looking to travel in and around the city for work, then your best option is to go by public transport, as traffic and congestion can be relatively bad, particularly in peak hours and no one wants to be sat in traffic for 45 minutes whilst you wait for the road to clear. There are also often regularly scheduled buses that run during peak hours that will take you directly into the city or if you are living outside of these areas trams and trains also connect most of Sydney.
Travelling by Public Transport
For those travelling via public transport, the cost of travel relies on three main factors - which transport you’re taking, what time of day you’re travelling and the distance you’re travelling.
For instance, an average train fare from Paramatta to Central will cost $6 during peak hours and $4.20 during off-peak times.
Whereas average train fares from Cronulla to Town Hall costs $8.03 during peak times and $5.62 during off-peak. (Transport NSW)
Whilst there is a variation in cost amongst trains, trams and buses, the difference in cost is generally quite slight. The only public transport that generally costs significantly more than this is travelling by ferry. Despite its efficiency and gaining points for travelling in style, it is definitely not a cost-effective method for those looking to save money.
Is it cheaper to use an Opal or debit card?
Generally speaking you are charged exactly the same fare for travelling with a standard adult Opal card as you are with a regular credit or debit card but there are reduced fares for certain groups of people.
- Children ages 4-15
- Seniors/ Pensioners
- Students
- Apprentices
- Asylum Seekers
- People with disabilities
- Veterans
- Centrelink customers
Therefore, for some an opal card is extremely beneficial, such as if you are often travelling via public transport with children.
Travelling by Car
The comfort and ease that comes with driving, make it a much more common choice for families, however, travelling via car within the city could greatly impact your daily cost of living in Sydney. The average price of petrol in Sydney currently falls at 1.96 dollars per litre making it more affordable than its sister city Brisbane but more expensive than most other Australian cities.
Toll prices Sydney
As well as your standard petrol prices, Sydney has generously engulfed itself in tolls throughout the city, which generally range between $10-$20 dollars per day with WestConnex toll pricing capped at $11.78 for standard passenger cars. One of the easiest and most efficient ways to pay for these tolls is via a digital tag account like Linkt. Although this may not feel like much, if you are travelling 5 days a week and paying $11.78 on tolls each day, this equates to $3,062.80 a year. Before committing to buying a car it may be best to work out what is economically more beneficial for you first as your transport choices could majorly impact your living cost in Sydney.
Grocery Shopping
You’ll be pleased to know at this point that general grocery shopping tends not to vary much across Australia, particularly when it comes to the big chain supermarkets like Woolworths and Coles, who have set prices on their items. For a rough budget, the average grocery bill for 1 person Sydney should be around $100 a week. Therefore, for a family of four, you would just work out a budget of $100 per person, so on average $400 a week (NSW). Additionally, there are also plenty of ways to cut down on food shop expenditure, to help save those extra pennies up:
- Plan meals for the week to avoid buying excess
- Reduce process foods from diet
- Cut down on meat consumption
- Don’t waste anything
- Try growing some of your own veg or herbs
Non-Essential Costs
Of course, life would be boring if it was all work and no play, which is why your Sydney cost of living budget should extend past the essentials like rent and groceries. One of Sydney’s greatest draws is its thriving city life that offers up an exciting food and cafe scene, as well as great theatres, sports centres, museums and an array of other entertainment options.
For a family of 4, you should budget around $500 to $800 on these kinds of non-essential costs, more of course if you regularly enjoy eating out or making the most of Sydney’s cultural scene. (Instarem)
So, what salary do you need to live in Sydney?
Without sounding like a politician, there is no fixed answer to really give for this, as so many variables can affect how much money you will need to live. With that said the cost of living in Sydney for a family of 4 will be on average $10,167 monthly or $122,004 annually. Therefore, on a dual-income household, to live comfortably in Sydney, you would need to be making roughly $85,000 per person. Luckily, this actually falls below the general wage of Sydney workers, with the average annual income at $108,000 AUD.
One of the huge benefits of living in Sydney is that although the cost of living is generally quite high compared to the rest of the country, salary and wages often generously reflect this.
Moving to Sydney
For those looking to make their mark in the NSW capital, whether you’re moving for work, the lifestyle or just for a fresh start, understanding the cost of living in Sydney will help prepare you for a successful life there. Whilst Sydney is undoubtedly an expensive city, particularly for rent or buying property, it has plenty to offer its residents from well-paid job opportunities to glorious beaches and the ultimate Aussie lifestyle. If you’re soon to be moving to any of Sydney’s great suburbs then let Holloway Removals & Storage help you get there. Our AFRA-accredited, highly professional interstate removalists have over a decade of experience, meaning you can rest assured knowing that your belongings will arrive safely in this bustling city in no time.
