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What Australian property prices can get you in the UK: Part 2
August 6, 2015
This week, we take a closer look at Melbourne and revisit the topic what local property prices can get you on UK soil.
According to the REIV, Melbourne is hot on Sydney’s heels in the house price race, with values climbing five per cent in the past three months to a median of $706,000. For the first time, Melbourne hit the $700,000 median price ceiling- so what exactly can that sum get you around town?
Unexpectedly, inner city living for this price will fetch an apartment, such as this large one bedroom + study apartment.
For those who aren’t inner city inclined, west Melbourne properties such as this period home in Footscray will set you back $690, 000 but as our suburb profile suggests, Footscray ticks boxes for price, CBD proximity and space.
In the UK, that equates to £329,016 GBP, which can cover the following accommodation options…
In London, £329k will once again see you tucking yourself into a small one-bedroom flat, albeit one with a nice location to make up for the tight squeeze: this flat is part of a Victorian mansion home in Waldegrave Park, Twickenham.
Further north, $700, 000 will comfortably cover a spacious five-bedroom home in Corringham, near Manchester, complete with light oak kitchen and French doors opening out onto a garden.
Scotland’s capital remains a more welcoming place for your wallet with £329k meeting the cost of a three-bedroom, two-storey detached home, north west of Edinburgh’s centre.
Have you purchased a house abroad? How do you think Aussie property holds up against the UK? Share your thoughts below.