well it depends on where abouts in sydney you live. In the suburbs, like 10 mins from the city, where i live, the houses are about 1-1.5million australian.
In the city, the apartments start from about 4million. but out in the western suburbs, like 40 mins from the city, its about $500 000 for a nice house.
Cost of living isnt to high either. im not to sure on the stats but i can look it up for you if you want