How Much Does the Average Engagement Ring Cost?

How much should you spend on an engagement ring? According to a survey* conducted by Wedded Wonderland, Aussie couples are spending on average $9,000 on an engagement ring, and the median price (which is more reflective of what the average person will spend), is $10,000.

According to Wendy El-Khoury, Director at Wedded Wonderland, it’s interesting to note the average spend has increased in the last few years. “The engagement ring is one place where the Groom can justify a large spend, as it is forever.”

Image: This Bride Wore a Stunning Steven Khalil Gown Photography: Inlighten Photography

It’s a different story when it comes the couple’s wedding bands, however; with the survey revealing the average spend for wedding bands collectively is $4,500. Couples are less willing to fork out the same amount here, opting instead for simpler, less expensive designs.

Before you tag your man with your double-figure bling expectations, the real answer to this question is: there is no answer! At the end of the day it’s important to pick an engagement ring that suits your style and budget. There are no bonus points for walking around with a rock that could buy a house when you’re trying to save for bigger and better things down the track.