So, you’re planning to propose—how exciting! But the big question isn’t just “Will they say yes?” It’s also “How much should you spend on an engagement ring?”

 

In Australia, the average cost of an engagement ring ranges between $6,000 and $10,000 as of 2025. But remember, this is just an average. Some people spend less, others spend more—it all depends on your budget and preferences.

 

Let’s break it down and look at trends, tips, and how to find the perfect ring without overthinking or overspending.

 

Key Takeaways: The average cost of an engagement ring in Australia ranges from $6,000 to $10,000, but you can spend more or less based on your budget. The old “three months’ salary” rule is outdated—spend what feels right for you. Lab-grown diamonds are a popular, affordable, and sustainable choice in 2025. Shop smart: Compare prices, check for sales (like EOFY), and explore ethical options. Focus on your partner’s preferences and choose a ring that fits your financial situation. The price doesn’t matter as much as the love and commitment behind the ring!

Historical Context

The old-school “three months’ salary” rule suggests spending three months of your income on a ring. But let’s face it—that’s outdated for many Australians.

 

Over time, couples have shifted to a more practical approach. It’s less about sticking to a specific rule and more about balancing what you can afford with what feels meaningful.

 

Culturally, Australians are also moving towards sustainable options and rings that reflect their values. This has changed how much people are willing to spend on an engagement ring.

Current Spending Trends (2025): Average Cost of Engagement Rings in Australia

So, how much do Australians actually spend on engagement rings today?

 

City	Average Cost (AUD)
Sydney	$9,000
Melbourne	$8,500
Brisbane	$7,500
Perth	$7,000
Adelaide	$6,500

 

Nationally, the average cost of an engagement ring ranges from $6,000 to $10,000, depending on the city and design preferences.

 

Popular Styles in 2025

 

1. Solitaire Diamonds: Still a timeless choice.

 

1. Lab-Grown Diamonds: Affordable and eco-friendly.

 

1. Coloured Gemstones: Sapphires and emeralds are trending.

 

Australians are also leaning towards ethical options, like conflict-free diamonds and recycled metals.

How Much Should You Spend on an Engagement Ring? Factors to Consider

 

There are several important factors to consider before setting a budget for the engagement ring.

 

Your Financial Situation

Let’s be honest—money matters. But it doesn’t have to be stressful. Spend what feels comfortable for you. Don’t feel pressured to overspend or take on debt.

 

Focus on what you can afford while still saving for your future together. The price of the ring is less important than the life you’re building with your partner.

 

Partner’s Preferences

This part is all about them. What do they love? Do they prefer a classic solitaire diamond? Or maybe they like something modern or colourful, like a sapphire or emerald?

 

Look at their jewellery style. Do they wear gold, silver, or platinum? If you’re unsure, try asking their friends or family for hints.

 

Alternative Budget Guidelines

Forget the old “three months’ salary” rule. That’s outdated and unnecessary. Set your own guideline that works for your finances.

 

Think about what feels meaningful. Some people spend $2,000; others spend $20,000—it’s personal. The goal is to choose something that’s special without adding financial stress.

 

In short, balance your budget with what your partner loves. The right ring is the one that fits your life and makes both of you happy!

 

Wondering how to choose the perfect ring? Then, visit this insightful blog now.

Value vs. Cost

What Determines the Price of a Ring?

The price depends on these factors:

 

• The 4 Cs: Cut, Clarity, Colour, and Carat.
• Metal Type: Platinum costs more than gold.
• Diamond Type: Lab-grown diamonds are much cheaper than natural diamonds.

 

Finding Value

You don’t have to overspend to get a beautiful ring. Shop smart. Compare prices, check for promotions, and consider alternatives like gemstones or lab-grown diamonds.

Ethical and Sustainable Options

 

In 2025, sustainability matters. Many Australians are choosing lab-grown diamonds because they are affordable, environmentally friendly, and conflict-free.

 

At Urban Bling, we care about style, love, and the planet. Our jewellery is designed with sustainability in mind, offering affordable and conflict-free lab-grown diamonds. 

 

For engagement rings, we have timeless solitaires, modern styles, and eco-friendly designs to fit every budget. Each piece is crafted with care to celebrate your love story. 

 

Whether it’s for a proposal, a gift, or everyday wear, Urban Bling has something special for you!

When to Buy an Engagement Ring?

Timing can make a huge difference when buying an engagement ring. Shopping during sales or promotional periods can help you save a significant amount while still getting a beautiful ring. 

 

Here are the best times to buy in Australia:

 

EOFY (End of Financial Year) Sales

These sales, usually in June, are perfect for grabbing deals as retailers clear out inventory before the new financial year. You can often find great discounts on rings during this period.

 

Christmas

The holiday season is not only a time for celebrations but also for big sales. Many jewellers offer promotions in December, making it a great opportunity to find the perfect ring at a reduced price.

 

Valentine’s Day

February is all about love, and jewellers know it. Leading up to Valentine’s Day, you’ll find special offers on engagement rings. This is a popular time for proposals, so stores often roll out discounts or bundle deals.

Wrapping Up

So, how much should you spend on an engagement ring? There’s no one-size-fits-all answer. The best ring is one that fits your budget, matches your partner’s style, and feels meaningful.

 

Focus on what matters most—your love and the life you’re building together.

 

Besides, do you want to learn how to measure ring size? Then, check out this insightful blog now!

 

FAQs How much should an engagement ring cost in Australia in 2025? On average, $7,000. But there’s no fixed rule. Spend what feels right for you. What’s the average cost of an engagement ring in Australia? Around $7,000, but it varies by city and preferences. Are lab-grown diamonds worth it? Yes! They’re affordable, sustainable, and just as beautiful as natural diamonds. How can I get the best value? Compare prices, buy during sales, and consider lab-grown diamonds. What is the most popular engagement ring style? A diamond in a white gold setting is the most popular choice, followed by yellow gold. What is the most popular engagement ringstone? Diamonds are the top choice, appearing in 80% of rings. Sapphire is the second most popular. What is the most common diamond cut? The brilliant round cut is the most popular, but other styles, like princess cuts, are growing. Do people still follow the “one or three-month salary” rule? Not really! 72% of people ignore this rule and spend what they feel is right. Do couples buy engagement rings together? Yes, 20% of couples share the cost instead of one person buying the ring alone. How do most people buy their engagement rings? Most people visit at least one jeweller, and 20% visit four or more before buying. How many people propose without the actual engagement ring? 20% of proposals are done with a stand-in ring or no ring at all. Are people happy with their engagement rings? Yes! 80% of people say they love their engagement ring, no matter the cost or design. Do people insure their engagement rings? Yes, 47% of couples get insurance to protect their rings in case of loss or damage.  Are engagement rings getting bigger? Yes! More people are now buying one-carat diamonds or larger ones compared to 10 years ago. What metal is most commonly used for engagement rings? The top choices are white gold (49%), yellow gold (30%), and platinum (9%). Are people upgrading their engagement rings? Yes, 7% of people upgrade or update their engagement rings after getting married.