The UK vs Australia: A Housing Comparison
Boasting world class education, top drawer healthcare and leading democratic systems it is no surprise that Australia and the UK are two of the most desirable countries to live in the world. Yet, as with any of the world’s desirable countries, comes the issue of housing. So, looking at the average data for both, just how expensive is housing?
Average House Price (National)
As you can see in the table below, the UK is the cheapest option out of the two coming in at an average of $284,000 for a house, while Australia reigns as the most expensive having an average just shy of £15,000 more expensive than the UK.
Average House Price (Regional)
Looking more closely at the difference in average regional pricing it comes as no surprise that both Sydney and London seem to be in a constant battle for the title of most expensive city of the planet. With this in mind, the UK and Australia do both harbour relatively affordable housing if, like all around the world, you’re willing to consider less populated cities like Adelaide, Darwin or Brisbane.
While the UK does seem to be the cheaper option both from a national and regional perspective it is important to consider what you’re getting for your money. Considering the data on average price per square metre, it is clear you’re paying for a far bigger home with your average house price in Australia saving around 8% for every square meter of property which you buy.
Rent
Similar to the data on average house prices, Australia’s average rental price is the more expensive of the two countries costing around 10.9% more per month. On the other hand, once you move outside of the densely populated city centres and into the more family friendly suburbs, the average price difference does significantly drop to a less than 5% difference and offers a far brighter outlook for a family that wishes to rent a property outside the city centre.
Who Wins? Australia (Just!) While Australia may be the slightly more expensive of the two countries in terms of house prices, it does have a far superior price per square metre ratio. This means you can expect to get more for your hard earned money and, thanks to their far superior wage (more on that later), expect to pay less for it in the long run.