How closely does your market resemble America or Japan? What is your area doing? Rising or falling and how quickly?
No idea about the markets in other countries or how they compare. I've spent a bit of time in Canada and I know you'd definitely get a much larger property for the same price as you'd get here in the UK. I'd say this area is fairly static in terms of price at the moment. You can get a dump that needs fixing up for just under £100000, but anything that doesn't need serious work is £125000 and up. And that's just apartments/flats and small terraced houses.
After a quick bit of research, at current prices you can get something like
this for £125000 GBP (yes, just that middle bit in the cream/beige colour if you're not accustomed to terraced houses) in the UK. Or at the current exchange rate you could get
this for roughly the same price ($225,000 CAD) in Canada, heh.