Australian and UK House Prices
Newspaper reports on 29th May 2010 show Median house prices as follows:
- $651,000 Sydney
- $462,000 London
- $460,000 New York
The following charts, using data from the Australian Bureau of Statistics, and the British Bankers Association, show the changes in average property prices from March 2002 (the earliest figure on the ABS data file) and September 2009 (the latest figure on the ABS data file), between the Australia and the UK.
The final charts show the comparison values based on Foreign Exchange rates of both 2.0 and 2.54 Australian dollars to the British pound. Â The rate of 2.54 is included, as that was the effective rate that wages were at in May 2009, shown at: Wage Comparison UK Australia 2009.
A chart showing September 2009 values against the average wage for the country is shown, but will be amended when average wages for each area can also be included.
Median price changes between March 2002 to September 2009
| Australia | Mar-2002 |
Sep-2009 | Increase $ |
Increase % |
| Sydney | $365,000 | $500,000 | $135,000 | 37.0% |
| Darwin | $190,000 | $490,000 | $300,000 | 157.9% |
| Canberra | $245,000 | $486,000 | $241,000 | 98.4% |
| Perth | $190,000 | $474,000 | $284,000 | 149.5% |
| Melbourne | $241,000 | $430,000 | $189,000 | 78.4% |
| Brisbane | $185,000 | $429,000 | $244,000 | 131.9% |
| Adelaide | $166,000 | $370,000 | $204,000 | 122.9% |
| Hobart | $123,000 | $310,000 | $187,000 | 152.0% |
| United Kingdom | Mar-2002 | Sep-2009 | Increase $ | Increase % |
| Greater London | £217,023 | £346,140 | £129,117 | 59.5% |
| South East | £164,225 | £245,745 | £ 81,520 | 49.6% |
| South West | £132,330 | £210,537 | £ 78,207 | 59.1% |
| East Anglia | £117,991 | £190,378 | £ 72,387 | 61.3% |
| West Midlands | £102,195 | £168,466 | £ 66,271 | 64.8% |
| East Midlands | £ 94,126 | £158,652 | £ 64,526 | 68.6% |
| Yorks & Humber | £ 80,681 | £155,065 | £ 74,384 | 92.2% |
| North West | £ 82,671 | £153,603 | £ 70,932 | 85.8% |
| North | £ 73,415 | £144,972 | £ 71,557 | 97.5% |
Most Expensive Property by Location
Using a Foreign Exchange rate of $2.00 to the £ we would get the following comparison, in cost order:
| $ at Sep 2009 | Location | Country |
| $692,280 | Greater London | UK |
| $500,000 | Sydney | Australia |
| $491,490 | South East | UK |
| $490,000 | Darwin | Australia |
| $486,000 | Canberra | Australia |
| $474,000 | Perth | Australia |
| $430,000 | Melbourne | Australia |
| $429,000 | Brisbane | Australia |
| $421,074 | South West | UK |
| $380,756 | East Anglia | UK |
| $370,000 | Adelaide | Australia |
| $336,932 | West Midlands | UK |
| $317,304 | East Midlands | UK |
| $310,130 | Yorks & Humber | UK |
| $310,000 | Hobart | Australia |
| $307,206 | North West | UK |
| $289,944 | North | UK |
Using a Foreign Exchange rate of $2.54 to the £ we would get the following comparison, in cost order:
| $ at Sep 2009 | Location | Country |
| $879,196 | Greater London | UK |
| $624,192 | South East | UK |
| $534,764 | South West | UK |
| $500,000 | Sydney | Australia |
| $490,000 | Darwin | Australia |
| $486,000 | Canberra | Australia |
| $483,560 | East Anglia | UK |
| $474,000 | Perth | Australia |
| $430,000 | Melbourne | Australia |
| $429,000 | Brisbane | Australia |
| $427,904 | West Midlands | UK |
| $402,976 | East Midlands | UK |
| $393,865 | Yorks & Humber | UK |
| $390,152 | North West | UK |
| $370,000 | Adelaide | Australia |
| $368,229 | North | UK |
| $310,000 | Hobart | Australia |
Property Locations sorted in Wage Multiple order
based on the average wage for each country, and showing original property values in each currency.
| Value at Sep 2009 | Location | Country | Wage Multiple |
| £346,140 | Greater London | UK | 12.56 |
| £245,745 | South East | UK | 8.92 |
| £210,537 | South West | UK | 7.64 |
| $500,000 | Sydney | Australia | 7.14 |
| $490,000 | Darwin | Australia | 7.00 |
| $486,000 | Canberra | Australia | 6.94 |
| £190,378 | East Anglia | UK | 6.91 |
| $474,000 | Perth | Australia | 6.77 |
| $430,000 | Melbourne | Australia | 6.14 |
| $429,000 | Brisbane | Australia | 6.13 |
| £168,466 | West Midlands | UK | 6.11 |
| £158,652 | East Midlands | UK | 5.76 |
| £155,065 | Yorks & Humber | UK | 5.63 |
| £153,603 | North West | UK | 5.58 |
| $370,000 | Adelaide | Australia | 5.28 |
| £144,972 | North | UK | 5.26 |
| $310,000 | Hobart | Australia | 4.43 |
Sources:
Australia: www.abs.gov.au Australian Bureau of Statistics – 6416.0 House Price Indexes: Eight Capital Cities Tables 7 and 8. Median Price
UK: www.bba.org.uk British Bankers’ Association – FT House price index National and Regional
Direct Source Documents:
- http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=1456&a=13770
- http://www.abs.gov.au/AUSSTATS/abs@.nsf/ProductsbyCatalogue/A50B6B8CF85F0474CA25722900179E3F?OpenDocument
- ../statistics/Comparison UK-Aus Mar 2002 to Sep 2009.xls
A comparison of Property Price changes UK – Australia 2003 to 2009
UK average property prices from http://www.nationwide.co.uk/hpi/downloads/UK_house_price_since_1952.xls
United Kingdom
Q3 2003 £129,760.81
Q4 2003 £133,902.72
Q3 2009 £160,158.67
Q4 2009 £162,116.10
UK 2009 is up 22.2% from 2003
Australia
Darwin (the largest Australian City Capital growth over those 6 years)
Sep-2003 $214,000
Dec-2003 $226,000
Sep-2009 $490,000
Dec-2009 $516,047
Darwin 2009 is up 128.6% from 2003
Sydney (the smallest Australian City Capital growth over the last 6 years)
Sep-2003 $480,000
Dec-2003 $520,000
Sep-2009 $500,000
Dec-2009 $514,796
Sydney 2009 is up 1.5% from 2003
Australian median house prices from Australian Bureau of Statistics 6416.0 House Price Indexes: Eight Capital Cities.