Time to revisit the House Price comparison between our two countries again.
Using figures from the ABS and the BBC, I have calculated some ‘interesting’ housing cost comparisons:
Cost of Detached Houses by Square Metre of living space:
- UK Detached Houses are £4,345 per sm or 8.5 weeks wages per square metre
- Brisbane Detached Houses as A$2,121 per sm or 1.5 weeks wages per square metre
Those results are based on:
Wages:
- Australian Average Wage = $75,587 www.abs.gov.au
- UK Average Wage = £26,500 ww.bbc.co.uk
House Prices:
- Brisbane Median Price Detached Houses: $437,000 www.abs.gov.au
- UK Average Detached House Price: £330,292 www.bbc.co.uk
House Sizes
- Average floor space Australia: 206 sqm
- Average floor space UK: 76 sqm
For a slightly closer comparison, I am showing the same rate for ALL UK properties
- UK ALL properties are £3,144 per sm or 6.1 weeks wages per square metre
- Brisbane ALL properties will also be lower than the Detached prices above.
A UK house at 1.5 weeks wages per square metre would work out at £58,000 !!
People will always pay what they want to pay for a property that they want.
And remember, people shunned the cheap houses in Western Sydney for years, because the area was too far away. 1 hour by train.
Example Detached Properties:
| Australia $437,000 206 sq metres floor space
|
UK £330,000 120 sq metres floor space
|
