For many Brits, a move to Australia is a dream come true and the same vice versa
Both countries speak the same first language, have similar cultures, and drive on the same side of the road, but when it comes to property, which country comes out on top?
Let’s compare the property markets in both countries:
In both countries, property prices vary depending on the location and type of property you are looking for. Currently the average price of a property in the UK is £188,446 (source: Nationwide), with the average in London being £525,000; Where as in Australia, prices range from $320,000 (£163,000) in Hobart to $725,000 (£369,000) in Sydney. (source: House Price Report). Therefore prices are probably best examined in terms of what you get for your money.
Australia has the largest properties in the world. The Australian Bureau of Statistics launched a survey in 2011 which found the average Australian home has 214.6 square metres of floor space. That’s 15 square metres more than the second largest, America, and three times the size of the average British home. Along with open planned living being the norm in Australia, you may feel like you are getting an awful lot for your money.
Traditional homes in Britain are considerably sturdier than those in Australia. Cottages, terraces and other period properties in the UK are almost always built of stone, have thick walls, and are built to stand for hundreds of years. When saying you are investing in ‘bricks and mortar’ this may not technically be true in Australia. Traditional properties in Australia are much different to those in the UK. The typical ‘Queenslander’ for example is a wooden or weather board property built on stilts to avoid floods. These stilts may keep the homes dry, but they mean a home is considerably less stable.
What many people find attractive about Australia is the ability to have an outside lifestyle and spend much more time at the beach, parks, and in your garden. But do you get more garden space for your money in Oz compared to the UK?
Well, like here in Britain, Australian property buyers are paying more for smaller houses and plots. The Urban Development Institute of Australia (UDIA) has found that in Australia’s 5 largest cities, lot size is down 29% on 10 years ago, whereas lot prices are up 78%. The price of land paid for by new home buyers is up a huge 148%. So if you are looking to get more land, you best act quickly in order to get the most for your money!
So who wins in the battle between houses – Australia or Great Britain? Well, that depends on what you’re looking for. For sturdy yet cosy homes, Britain wins; or for maximising space, Australia is the obvious choice. You just have to decide what works best for you.
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