How Are House Prices Changing Around the World?

Buying a house has always been a commitment and something that many people often see as a major milestone within their lives, something to work towards and a real point of pride once that line is crossed. However, the economy is not constant, and what may have been a realistic goal some years ago can now start to feel like something where the goal posts are being moved and shifted so often that you don’t have a chance. However, there are means and resources available to you and others in your situation that have been designed to make this toll feel less substantial than it might otherwise.

Seeing this financial situation unfold before your eyes can, however, prompt you to ask what this scenario might be looking like in other countries around the world, either out of a sheer sense of curiosity or because you want to consider moving abroad and this could be vital information to have. Outside of this, it’s also good to be aware of the global financial situation, as it might lend a sense of perspective to your housing endeavours closer to home.

Within the UK

It’s no secret that house prices in the UK are increasing to such a point that many people are finding the mere prospect of ever being able to afford one is one that is increasingly hard to believe in. It’s worth understanding that house prices fluctuate drastically depending on location within the UK, too, with the south on average being more expensive than the north. For a more detailed look at some of the areas in the UK that are set to have an increase in house prices, as well as how much your home could be worth in the future, check out this information from Cashlady. Knowing how much your current house is worth or expensive places to avoid can aid your house search.

In America and Australia

Two locations you might be eyeing up as potential new abodes, maybe due to being conveniently English-speaking countries, are America and Australia. Especially compared to the UK, some parts of America are famous for having much more reasonable house prices, although this isn’t always the case. For example, Bloomberg examined the costs behind the housing market in California in relation to the rest of the US to see why it’s so high compared to other states and where else shares that problem. This could be something of an issue for you if you’re one of the many people who sees California as one of the more desirable locations in America due to its scenery and climate, but there are still other options within the country if the prices are an issue.

Australia might appeal to you for much the same reasons as California. However, perhaps due to this demand, house prices in Australia have also seen massive increases in recent years, especially in the cities such Sydney and Melbourne.

Therefore, it might make more financial sense for you to look for a house in the suburbs if you have your heart set on Australia. Depending on your personality, this quieter location might be more to your liking anyway so this could be a positive.