What Can £150k Buy You In The WorldWide Property Market?

WHAT CAN £150k BUY You IN THE WORLDWIDE PROPERTY MARKET? We looked at 6 different properties in 3 different countries, it's astounding what you can (or can't in some cases) buy for £150k... NEW YORK DETROIT 1x 21x 1x 6x approx 348.12 sq.ft approx 13,650 sq.ft (apartment block) We found a vast array of properties for £150k in the United States. It was hard to find anything more than a tiny one bedroom apartment for that price in New York. However, in other States, you could get a much better bang for your buck. One of our best finds was a block of 21 apartments in Detroit. Expensive or Cheap? The US housing market as a whole was one of the only countries that felt a strong price correction in property in 2008. However, as you can see, in recent years property prices have shot up, meaning bargains are becoming increasingly difficult to find, although States such as Detroit still offer some great opportunities. USA $320,000 $300,000 $280,000 $260,000 $240,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average house price in the USA over 10 years LONDON BRADFORD 3x 1x 1x 1x approx 333 sq.ft approx 805 sq.ft Like New York, bargain properties in London are pretty thin on the ground. Today you can expect to pay more than £150k for a garage! We did find a handful of small one-bedroom apartments available, although they were never in the prime locations. In contrast, you could pick up a new build in Bradford for the same price. This property also had a driveway, private garage as well as small gardens at the front and rear of the house. Expensive or Cheap? Unlike the US, the post-recession drop in house prices in the UK was much less severe. With both foreign and domestic demand for property in London so strong, property prices in the capital have been increasing over the last decade. However, outside of London, ENGLAND £200,000 £175,000 £150,000 £125,000 £100,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average house price in England over 10 years MELBOURNE ADELAIDE 1x 1x 1x 1x approx 590 sq.ft approx 506 sq.ft Like New York, bargain properties in London are pretty thin on the ground. Today you can expect to pay more than £150k for a garage! We did find a handful of small one-bedroom apartments available, although they were never in the prime locations. In contrast, you could pick up a new build in Bradford for the same price. This property also had a driveway, private garage as well as small gardens at the front and rear of the house. Expensive or Cheap? Unlike the US, the post-recession drop in house prices in the UK was much less severe. With both foreign and domestic demand for property in London so strong, property prices in the capital have been increasing over the last decade. However, outside of London, particularly in the north of England, there are still some reasonably-priced properties on the market. AUSTRALIA $600,000 $575,000 $550,000 $525,000 $500,000 $475,000 $450,000 $425,000 $400,000 $375,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average house price in Australia over 10 years Sources: http://realestate.nytimes.com/sales/detail/44-3162365/119-West-80th-Street-NEW-YORK-NY-10024 http://www.rightmove.co.uk/overseas-property/property-44293732.html/svr/1703:jsessionid=7922E7D9DFBIA212B28AB58480D439D3 http://www.rightmove.co.uk/property-for-sale/property-29933535.html http://www.rightmove.co.uk/new-homes-for-sale/property-43064056.html?premiumA=true http://www.realestate.com.au/property-studio-vic-melbourne-113762151 http://www.realestate.com.au/property-apartment-sa-adelaide-117724651 RTI Powered by Real Time Investments * STAR BUY