The average UK property price is soaring at the moment. Just a few months ago, it topped a quarter of a million pounds, and now as we move towards the new year, the cost of an average home will set you back around £270,000.
It’s a record high for the nation and year-on-year has seen an 11.7 percent increase. But is it the same across the world?
We’ve delved into the property market to uncover the countries and cities around the world where you can get the most bang for your buck. Whether you’re looking for sunnier climes or a long driveway with a grand, wooden gate, multiple rooms, or a lush city pad, there are plenty of options.
A Look at £270,000 in the UK
Across the UK, what you can get for your money can vary wildly. Whilst in London a quarter of a million may get you a glorified shed, in the North East, a shed would come complete with a four-bed semi.
Capital Living for Average House Price
London will offer you much less space, with a 320 sq. ft., one-bed apartment in Mill Hill (zone 4) setting you back £250,000, with the £270,000 mark providing you a one-bed flat in the Selhurst area in south London, with a total of 447 sq. ft., just about enough room to swing a cat in.
In contrast, a one-bedroom apartment on The Strand would set you back £1.5million, whereas if you fancy living the high life in Knightsbridge, a one-bed, one-bathroom apartment with 1,573 sq. ft. will cost you a cool £6.5million.
For those looking at city-living, £270,000 will get you much further in the UK’s “second city”. For a two-bedroom apartment in B1, you can pick up a luxury apartment for the country’s average price, but as you move out of the city, the cost per sq. ft. decreases and three-bedroom properties become available.
A semi-detached property in the Selly Oak area of the city is priced just under the average, complete with three bathrooms (two en-suite) and three reception rooms.
The North West
Both Manchester and Liverpool have plenty of city-living options, with a two-bedroom apartment in the centre of the former, complete with “stunning views” and a “well-maintained communal garden” that comes in bang on the average UK property price. And with two bedrooms, two bathrooms and being 809 sq. ft. in total, this is double the size of what you’ll find in the capital.
Down the East Lancs Road in Liverpool, for just £5,000 above the average, you can put an offer in for a converted Gothic-style church built in 1861. Original features have been restored in what is a stunning-looking, three-bed, two-bathroom apartment.
The church itself has been split into four apartments, with the option to live in The Vestry, Church View, The Rectory and The Spire.
When it comes to the region of Scotland, prices will vary on where you are looking for a home. The average UK property price in Edinburgh won’t get you very far. However, out towards Leith, a short walk from the city centre, you’ll be able to pick up a two-bedroom apartment for slightly over the average UK price at £280,000.
However, elsewhere in the country, there’s much more to choose from. In Inverness, a four-bed traditional house will accept offers of around the £230,000-mark.
This particular example is located centrally and includes two bathrooms to accompany the bedrooms, a rear garden, spacious rooms and permit parking, alongside a living room, family room, kitchen and utility room.
Meanwhile, if you’re looking for something more remote, the Orkney Islands will offer you up a six-bedroom, nine-bathroom detached overlooking the sea and mainland Orkney for just £250,000.
For those seeking a place on the continent, then in Europe, you’ll find a mix of great-value homes in the sunshine, and expensive city-living. For £270,000 around Europe, you’d find the following:
For many Brits, the pull of retiring in the sun or enjoying a Spanish holiday home is large, and you’ll certainly get more bang for your buck in the Balearics than you would in most UK cities.
For €270,000, you can pick up a 936 square-foot, three-bedroom apartment in the heart of Ibiza, with the beach, town and airport all on your doorstep.
The Algarve, Portugal
Over in neighbouring Portugal, the Algarve is another hotspot for holidaymakers and many with the disposable income look to set up here, away from the hustle and bustle of the likes of London and rain and drizzle of Manchester.
For around the average house price in the UK, you can pick up a spacious apartment of over 1,000 square-feet, including three bedrooms and two bathrooms, including all the mod-cons such as underfloor heating, air conditioning and solar panels.
Brand new builds are only slightly more expensive than the average UK house property, many of which will include private patios, communal pools and more.
Head over to Greece and you’ll get far more for your money than in Portugal and Spain. For well under £270,000, you can pick up a six-bedroom, five-bathroom villa in Lefkada, with stunning sea views, two swimming pools with infinity pools and nine atriums.
Right across the country, you may find a much better investment compared to much of Europe, and it’s no surprise to see many expats settle in this Mediterranean region.
You’ll be lucky to find anything livable in the likes of Paris, with the French capital more expensive than London. However, there are some nice properties as you move out of the city regions, and even in luxurious destinations like St Tropez.
Just a 15-minute drive away from the town and a short walk from the local village, you can pick up a two-bedroom, ground-floor apartment, complete with a private terrace and communal swimming pool.
Whilst not as roomy as what you’ll get in Greece, if you love the south of France in particular, there are opportunities to even buy up new builds.
The German capital on the other hand is much more viable from a home-buying point of view compared to many other cities around the world. whilst pricier than any other part of the country, you can still pick up a one-bedroom apartment that’s double the size of the one highlighted in London for £247,000.
This particular apartment comes complete with a balcony and is located in Charlottenburg, just a stone’s throw from the Palace Grounds, offering ample green space to sit and enjoy the summer sunshine. Across the city, there are many more examples of reasonable living costs and house prices, making Berlin one of the most livable cities in the world.
Naturally, in Asia, you’ll find a variety of house prices and living costs dependent on where you’re looking on the continent. For example, in the Middle East, you’ll find much larger costs for property than you would in India or Thailand.
Let’s start with the latter. For around £270,000, you’ll get plenty for your money. In fact, for just over £200,000, you can pick up a two-bedroom apartment in Bangkok, but for a little more, you can live the penthouse life in one of Asia’s busiest cities.
Heading out into the sticks, you can get more square footage for your money too. It’s one of the most reasonably priced places to live in Asia and more and more people are heading there, with approximately 55,000 Brits now living in the country, the vast majority in and around the capital.
If you think London’s cramped, Tokyo probably isn’t going to be your destination of choice on the UK’s average house price. You’ll get around 430 square-feet of real estate for your £270,000 in Japan’s capital, with just one bedroom and one bathroom, and even then, you may have to pay an extra £10,000 or so for the privilege.
This is significantly different to India, where in Kolkata, you’ll be able to pick up 4,597 square-feet for just £250,000.
This example, which is currently being offered by Sotheby’s, is a four-bedroom, four-bathroom penthouse with stunning views of the city and the expressway, offering easy access to the airport.
The complex also offers a swimming pool, gym and is even attached to a shopping mall, offering all you could possibly want in one place.
Many Brits are now upping sticks to move to the Middle East, with Qatar and the UAE the two main hotspots. In Dubai, there’s some good value property on offer, with many new resorts being built to encourage more of us to make the move.
For £251,000, you can purchase a three-bedroom townhouse, with four bathrooms, two parking spaces and a total of 2,152 square-feet. Like many places in Dubai, the aim is to offer all the amenities possibly needed on one site, with sports facilities, beach access and even a community hall in this example which is located by Dubai Sports City.
Over in the Americas, it’s a similar story, with the USA alone offering hugely varying prices from New York to the likes of Florida.
Florida is one of the most popular choices for Brits, with sunshine, sea and plenty of attractions. Whilst £270,000 will get you little in New York, in Orlando, there are properties on the market for just over £250,000 that are much more spacious than what you’d find in the UK.
In fact, you’d find some of the properties available quite breathtaking. Around a 45-minute drive out of the city of Orlando, you’ll find Davenport, a relatively small city that offers great value for money.
For just over a quarter of a million pounds, you can buy a five-bedroom, four-bathroom detached home located relatively close to Disney World.
The home has a pool, spacious dining area, large master bedroom and ample storage space, making it a great home for expats to retire in if they have a big family.
New York, USA
Compare that to New York and in the Big Apple, and you’re looking at much less space with a two-bedroom, three-bathroom facility in Midtown East. This example is a co-operative and includes a range of features, including a pool and spa.
It’s a real gem in an incredibly expensive city, and it’s just about as good as you’ll get for £270,000 in New York, particularly this central.
Rio de Janeiro, Brazil
In Rio, you can pick up quite a lot for your money, so if you want that Copacabana lifestyle, then it could be well within reach. For just over £250,000, you can get a four-bedroom, four-bathroom detached home with a swimming pool, jacuzzi, ample space and enough parking for 12 cars with secure driveway gates.
This particular property is located in Paraty, in the state of Rio and is around a three-to-four-hour drive from the city itself. But you get incredible views and peace and quiet like no other. It really is picture-perfect.
If you want to travel to the other side of the world in search of a new home, then Australia and New Zealand offer more spacious accommodation with access controlled driveways and communities alongside plenty of facilities.
Auckland, New Zealand
In Auckland, you can pick up a range of affordable beach-living, including this terraced townhouse, which has a nice amount of outside space and a total of two bedrooms and one bathroom.
Close to the city, it offers much cleaner and spacious city-living than many other major cities in the world and is also just a 10-minute walk from the beach. What more could you ask for?
Perth has a large population of Brits living there these days, and properties are being snapped up left, right and centre in the city. You’ll typically get a much better deal than in the likes of Sydney and Melbourne, and £270,000 will generally get you a detached property with plenty of outside space.
For just £220,000, you can pick up a two-bedroom villa with a courtyard and all mod-cons, on a quiet cul-de-sac just a short drive from the city centre.
In Sydney for the average cost of a UK home, you’re typically looking at an apartment, but there are some impressive new builds that are up for grabs for just £234,000.
This example is a one-bedroom apartment offering 593 square-feet of living space in the Gosford area of the city. With that, you get a balcony, communal gym and swimming pool, as well as car parking, which is more than you’ll find in London.