Is Brisbane cheaper than Melbourne now?

Whether Brisbane is cheaper than Melbourne depends entirely on whether you are looking at real estate or everyday living expenses.

Housing and Real Estate
Brisbane is no longer cheaper than Melbourne when it comes to buying a house. In mid-2025, Brisbane's median house price officially overtook Melbourne's, crossing the $1 million mark for the first time.

Everyday Cost of Living
For day-to-day expenses, the two cities are almost identical. General consumer prices in Melbourne are a tiny fraction (around 0.06%) higher than in Brisbane. You will find minor variations in specific categories—for example, groceries tend to be slightly cheaper in Melbourne, but dining out at restaurants is typically more expensive compared to Brisbane.