House Prices UK – Australia 2013

House Prices UK – Australia 2013
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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:

House Prices:

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

House AUD437k 2012

UK £330,000 120 sq metres floor space

House GBP330k 2013



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