House Price rises UK v Australia
#1
Guest
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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 ?
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 ?
#2
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
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
#3
Joined: Feb 2005
Posts: 629
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.
#4
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Joined: May 2004
Location: Where the stars look very diff-e-rent today... and tomorrow!
Posts: 1,124
Re: House Price rises UK v Australia
Originally Posted by ABCDiamond
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 ?
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 ?
Is this idle curiosity (you, idle?) or are you looking to do some property investment?
#5
Guest
Posts: n/a
Re: House Price rises UK v Australia
Originally Posted by MarkMyWords
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?
Is this idle curiosity (you, idle?) or are you looking to do some property investment?
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
#6
Re: House Price rises UK v Australia
Originally Posted by ABCDiamond
Pure idle curiosity But trying to compare price movements in the same location.
I have two weeks of work to catch up on if you're bored
(strange how I still have time for BE though )
#7
Guest
Posts: n/a
Re: House Price rises UK v Australia
Originally Posted by mlbonner
I have two weeks of work to catch up on if you're bored
(strange how I still have time for BE though )
(strange how I still have time for BE though )
#8
Joined: Aug 2003
Posts: 11,149
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.
#9
Banned
Joined: Jul 2003
Posts: 1,048
Re: House Price rises UK v Australia
Originally Posted by bondipom
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.
#10
Banned
Joined: Jul 2003
Posts: 1,048
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
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