What can you buy around the World for the cost of the average UK home? - December 4, 2016

Recent figures published by the Land Registry show that as of September 2016 the average UK house price was £217,888. This represents a 7.7% increase on the twelve months from October 2015. As always there is considerable disparity in average prices and their respective increases between the constituent parts of Britain, with England’s average house price being considerably higher than that of Wales, Scotland and Northern Ireland. As has long been the case there is a significant difference, both in price and increases, between the regions within England; with London and the South East seeing increases of between 10% and 12% in the last twelve months compared with the North East and Yorkshire and the Humber which saw increases of between 2% and 5%.

So out of curiosity, what can you buy elsewhere around the World for a same sort of price as the average UK house price? Well…..

Andalusia, Spain – £216,233

This three bedroom apartment is set on a development a short distance east of Marbella. The apartment has the benefit of parking and use of communal facilities including the grounds, a number of swimming pools. The development is part of the El Soto Golf Club, where the owners have free access to play the 9 hole par 3 course, use the gym, sauna and Turkish bath, in addition to its restaurant and paddle tennis courts. 

Spain

Kwa-Zulu Natal, South Africa -£213,637

This five bedroom detached thatched property occupies a generous plot with a pleasant outlook, and offers scope to be divided into a three bedroom house and a two bedroom self-contained flat/annex. It also has a detached double garage, stores and other outbuildings.

South Africa

Dania, Midtown, Dubai – £218,033

This two bedroom apartment is being sold off plan, and is not expected to be ready until 2018. This particular property has offers a private balcony overlooking Jumeirah Golf Estates and benefits from underground parking and use of the development’s communal facilities including sports court, gymnasium and swimming pool.  

Modern office park with green lawn, trees and bench

New South Wales, Australia – £218,036

This contemporary three bedroom villa would make an investment or a place to call home. It offers open plan living providing both dining and lounge areas with sliding glass doors to the patio, and further benefits from adouble lock up garage and small private garden.

Australia

Nova Scotia, Canada – £217,372

This spacious three bedroom semi-detached dwelling is newly built and offers 2,400sq feet of accommodation and gives the buyer the opportunity of choosing their own finish. The property benefits from an integral garage and ground source heating, and is within a walkable distance of the local amenities.

Canada

San Bernadino, California – £216,456

This five bedroom detached family home was built during 2011 and offers over 2,800sq feet of accommodation and occupies a generous plot. Finished to an excellent standard throughout the property has the benefits of an integral garage and dual zone air conditioning.

USA

Or, if you could afford to stretch yourself a little and would prefer something out of the ordinary….

Adelaide River, Northern Australia – £236,996

This property is a real ‘Crocodile Dundee Special’; consisting of 28 acres of land in an elevated position with 360 degree views and 950 metres of river frontage, and is 6km from the nearest settlement. There is a 40ft ‘porta-cabin’ which provides some modern comforts including mains electricity, private drainage and a basic bathroom and kitchenette.

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It’s remarkable to see the difference in what you can afford elsewhere in the World when compared to the comparatively modest properties available in the UK for this sort of price.

One 77 Mortgages provide fee free mortgage and protection advice to our customers from around the UK. We deal in all forms and sizes of residential mortgages, and can also deal in other forms of property finance including auction finance, bridging finance and commercial mortgages.

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