House Price rises UK v Australia
 

Just wondering which country has had the highest property prices rises.

I've looked at two actual examples myself, and come up with:

UK
Dec 2000 UK - Rochester £57,575.00
Aug 2004 UK - Rochester £121,500.00 211% increase

Australia
Dec 2000 NSW - St Clair $280,000.00
Oct 2004 NSW - St Clair $425,000.00 152% increase

Does anyone have any other similar date actual comparison examples ?

Re: House Price rises UK v Australia
 

Here's a few ive just found out:

UK
Oct - Dec 2000 - Hemel Hempstead (Herts) post codes HP1 - £136,000
Oct - Dec 2004 - Hemel Hempstead (Herts) post codes HP1 - £252,000
185% increase

Australia

2000 - Perth Median - $158,200
2004 - Perth Median - $255,000 161% Increase

2000 - City Beach (WA) - $547,000
2004 - City Beach (WA) - $900,000 165% Increase

2000 - Ocean Reef (WA) - $249,000
2004 - Ocean Reef (WA) - $419,000 168% Increase

Steve :)

Re: House Price rises UK v Australia
 

It depends where you compare, and the two places are incomparable! Sydney is VERY expensive, as is Melbourne and Brisbane now. The averages are about the same as the UK (outside London). A 3 bed house (duplex or detached) in a decent part of Sydney (e.g Sutherlandshire - south) will cost over $550K AU (over 220K GBP). Perth is much cheaper, if you could live there.

Re: House Price rises UK v Australia
 

That's one enormous can of worms you're opening there. House price changes vary hugely from area to area. There is no one simple (or useful) comparison.

Is this idle curiosity (you, idle?) or are you looking to do some property investment?

Re: House Price rises UK v Australia
 

:D Pure idle curiosity :) But trying to compare price movements in the same location.

eg: The examples I gave are of the same houses, but different sale dates. I don't think I made that clear :)
So they are actual examples of exact increases, instead of the more general median price changes, which do not compare exactly.

Obviously if one has had 100k worth of improvements done it would skew the % somewhat :D

Re: House Price rises UK v Australia
 

I have two weeks of work to catch up on if you're bored :p

(strange how I still have time for BE though :rolleyes: )

Re: House Price rises UK v Australia
 

I've almost decided to start looking for a part time job :D

Re: House Price rises UK v Australia
 

I wonder how housing affordability compares and how affordability has plummeted in both nations. First time buyers or off the market in most of Britain and increasingly in Oz.

Re: House Price rises UK v Australia
 

Re: House Price rises UK v Australia
 

Housing affordability index (definition):

The housing affordability index, derived by the Housing Industry Association and the Commonwealth Bank, measures the ability of households to meet the cost of buying their first home. The index is the ratio of average household income to the income necessary to meet repayments on an average established dwelling purchased by a first home buyer. Income measures are based on national accounts estimates of household disposable income.

Housing Affordability Index = 100 * (Average Annual Household Income Disposable / Qualifying Annual Income Disposable)

So in 2004 Sep, Housing Affordability Index = 100 * (71,900 / 68,000) = 105.7