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. 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% |
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/[email protected]/ProductsbyCatalogue/A50B6B8CF85F0474CA25722900179E3F?OpenDocument
- ../statistics/Comparison UK-Aus Mar 2002 to Sep 2009.xls
Related posts:
Last Comment