Earlier today, Sony announced a price drop for the 500GB PS4 across Europe (€349.99), the UK (£299.99), and Australia($479.95); effective immediately.
From the official PlayStation Blog:
“from today the 500GB PS4 will be available across the SCEE region* from the new low price of €349.99/£299.99 (RRP).”
This price drop does has no effect on the 1TB console and its bundles. These will remain at their current prices.
With the recent price drop in the Americas, this latest move is hardly surprising. Just in time for the holiday season, the PS4 price is now in line with the Xbox One. It will be interesting to see how Microsoft react. Patience could well be the best policy if you are planning on purchasing an Xbox One anytime soon.