Every market is different, I wouldn't be too envious of a lot of the £200 UK motors but I know what you are saying.
Between 2008 and 2010 I lived in Adelaide where at that time I paid 1300AU Dollars for a 1985 Mitsubishi Colt (vgc, with rego from a dealer), however I sold for 950.
When I returned to the UK the scrappage scheme seemed to have taken a lot of cheap used cars out of the market so I forked out £695 for a 95 Carina e. The half decent £300, £400 and £500 cars seemed to have disappeared and become a thing of the past.