Australia vs Canada — Financial & Living Comparison (2026)
Updated March 2026
| Metric | Australia | Canada | Winner |
|---|---|---|---|
| Mortgage Interest Rate | 6.20% | 5.80% | Canada |
| Savings Account Interest Rate | 4.60% | 4.20% | Australia |
| Credit Card Interest Rate (APR) | 19.9% | 20.5% | Australia |
| Average Rent (1BR City Centre) | US$1,700/mo | US$1,550/mo | Canada |
| Real Estate Price (per m²) | US$7,800/m² | US$5,400/m² | Canada |
Summary
Australia has a higher mortgage rate than Canada at 6.20% vs 5.80%. Rental costs in Australia average $1,700/month compared to $1,550 in Canada, while the cost of living index sits at 94.0 versus 91.0. Overall, Canada looks more favourable across the headline numbers.
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