Melbourne Tops Global City Ranking for 2026

Melbourne was ranked the best city in the world for 2026 by the global lifestyle media brand Time Out. The ranking considered the city's diversity, liveliness, and cultural scene, placing it above cities like London, New York, and Shanghai.

The magazine's editor described the rankings as an "attitudinal survey," indicating that locals provided high ratings for their city.

Housing Affordability Perspective

Regarding housing affordability, Melbourne's position among Australian cities offers a contrasting view.

Melbourne's median house value is $977,579. This figure is higher than only Hobart and Darwin.

In comparison, Sydney, which ranked 21st on the Time Out list, reported a median house value of $1,607,046. Brisbane's median was $1,175,981, and Perth's was $1,032,032, according to Cotality’s Home Value Index for February.