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PS5 price officially announced by Sony for regular and Digital Edition PlayStation 5 this November

PS5 price
(Image credit: Future)

Sony has finally announced how much the PS5 will cost when it releases later this year. And if you're looking to save some cash and ditch the world of physical media, then we can also tell you the price of the PS5: Digital Edition. And folks.... PS5 pre-orders start tomorrow on September 17. Oh, my.

We've been speculating for a few years now on what the PS5 price might be and as of tonight, we can finally tell you. In the US, the PlayStation 5 price starts at $499.99, and over in the UK you can expect a £449.99 pricetag. The PS5 Digital Edition, which comes without a disc-drive, but is otherwise the same internally, is actually cheaper than we thought at $399.99 in the US and £359.99 in the UK. As for Australia, you're looking at AU$749.95 for the full PS5 experience and AU$599.95 for the digital model. We were originally anticipating a much smaller price difference between the two PS5 models - so this is excellent!

As for the release date, it will actually be slightly staggered, which we didn't expect. November 12 in the US, Japan, Mexico, Australia, New Zealand, and South Korea. November 19 for the rest of the world, which we hope includes the UK!

These PS5 prices are actually a bit cheaper than we were originally expecting a while back. That being said the recent confirmations of the Xbox Series X price meant we had a better understanding of what to expect from Sony. And given that ridiculously-fast and powerful bespoke SSD inside, we had every reason to expect the worst.

On the plus side, if you were to try and build one of the best gaming PCs or even something to rival the best gaming laptops, you'd be paying more - a lot more. Consumer habits have indeed changed in the years since the last console generation. Samsung and Apple are able to release phones on an annual basis priced well north of a $1000/£1000 with loyal customers lining up to get the latest model. Video game consoles are a bonafide bargain by comparison.

Now the PS5 price is finally out in the open alongside Microsoft's console too, we can start looking ahead to the PS5 pre-orders which are opening very soon.

But with the Xbox Series X looking to rival even the best gaming PCs, we imagine Microsoft will have to obliterate its profit margins in order to undercut the PlayStation 5 price by a significant amount. Microsoft would be smart to chuck in something like a six or 12-month Xbox Game Pass to tempt players over to team green. Likewise with Sony and a PlayStation Plus membership.

Are PS5 pre-orders live now?

News just in! We're hearing you'll be able to pre-order a PS5 from tomorrow at major retailers. We're yet to hear what actual time this is happening, but be sure to keep your eyes peeled on our guide on the best PS5 pre-orders which we'll update constantly tomorrow to keep you in the loop.

If you fancy sitting here all night and hitting that refresh button, here are some stores to get you going with relevant landing pages that might magically update while we're all asleep. We all know Santa doesn't come until you go to bed though.

Brendan is GamesRadar's Managing Editor of the Hardware & eCommerce team. Formerly the Deals Editor at our sister site, TechRadar, he's obsessed with finding the best tech, games, gadgets, and hardware at the lowest price. He spends way too much of his free time trying to decide what new things to watch on Netflix, then just rewatches It's Always Sunny in Philadelphia instead.