London vs Melbourne
Home Price & Cost of Living Comparison
Live DataLast updated: March 31, 2026·Source: OECD, Numbeo & National Statistics
💡 Why it matters: London vs Melbourne
Melbourne is 0% more affordable for homebuyers. London has a price-to-income ratio of 12.5x compared to 9.2x in Melbourne.
| Metric | London | Melbourne |
|---|---|---|
| Avg Home Price | $680,000 | $680,000 |
| Price / sqm | $15,000 | $8,500 |
| Rent (1BR) | $2,800/mo | $2,200/mo |
| Rent (3BR) | $4,500/mo | $3,200/mo |
| Price-to-Income | 12.5x | 9.2x |
| Mortgage Rate | 4.5% | 6.2% |
| 1yr Change | +1.2% | +3.2% |
| Median Income | $54,000/yr | $74,000/yr |
| Population | 9,000,000 | 5,100,000 |
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HomePricePeek Research TeamData Specialists
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
✓ OECD, Numbeo & National Statistics✓ Updated 2025
Frequently Asked Questions
Is London or Melbourne more expensive?
Melbourne is more affordable. Home prices differ by $0 (0%).
Which city has cheaper rent, London or Melbourne?
Rent for a 1BR in London is $2,800/mo vs $2,200/mo in Melbourne.
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