$1.48 to the £ today....this is getting ridiculous
Jan 13th 2012, 2:25 am
#16
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: $1.48 to the £ today....this is getting ridiculous
I'd leave it in the UK. There's really no reason to rush into bringing money over to buy property in Aus at present - it is hard to see how prices could go much higher, and as testament to how overbought the market is, it is generally much cheaper to rent at present (the buy-to-letters all have to put in extra to cover their mortgages).
They bring up the old "not enough supply" chestnut to justify asking prices, but we have heard that one before in the UK, Spain, USA...
Sit tight.
They bring up the old "not enough supply" chestnut to justify asking prices, but we have heard that one before in the UK, Spain, USA...
Sit tight.
https://www.youtube.com/watch?v=pbDeS_mXMnM
Jan 13th 2012, 5:17 am
#17
BE Enthusiast
Joined: Nov 2011
Posts: 335
Re: $1.48 to the £ today....this is getting ridiculous
Jan 13th 2012, 5:58 am
#18
Forum Regular
Joined: Jan 2010
Posts: 188
Re: $1.48 to the £ today....this is getting ridiculous
Welcome to the world aussie travellers have been in for the last 20+ years.
Either you want to come to OZ or you dont. (Yes it really is a simple as that)
If you do, you'll bite the bullet. If you dont then you'll postpone until the time is right for you.
Depends if you take the short term or long term view.
When I left OZ (many years ago) the exchange rate wasn't favourable but I was a late teen and my parents dictated that I had to go to Europe to finish my education, so they bit the bullet and off I went even though the exchange rate from OZ wasnt favourable. When I came back to OZ (24 years later- long story) the exchange rate was much more favourable to me, but TBH I would have come back regardless of what the exchange rate was cos I was finally heartsick (way beyond homesick).
I find it interesting nowadays to see how many people are "debating" the wisdom of a move with the current exchange rate. A lot of folks that moved to OZ in the mid 80's did so at todays rate or worse and in the late 70's/early 80's the rate would have been so much better for them - so a similar situation to today, but those that moved across in the mid 80's when the exchange rate was hovering around $1.40-$1.45 and stayed now have a great lifestyle.
Your choice! Long term or short term?
Either you want to come to OZ or you dont. (Yes it really is a simple as that)
If you do, you'll bite the bullet. If you dont then you'll postpone until the time is right for you.
Depends if you take the short term or long term view.
When I left OZ (many years ago) the exchange rate wasn't favourable but I was a late teen and my parents dictated that I had to go to Europe to finish my education, so they bit the bullet and off I went even though the exchange rate from OZ wasnt favourable. When I came back to OZ (24 years later- long story) the exchange rate was much more favourable to me, but TBH I would have come back regardless of what the exchange rate was cos I was finally heartsick (way beyond homesick).
I find it interesting nowadays to see how many people are "debating" the wisdom of a move with the current exchange rate. A lot of folks that moved to OZ in the mid 80's did so at todays rate or worse and in the late 70's/early 80's the rate would have been so much better for them - so a similar situation to today, but those that moved across in the mid 80's when the exchange rate was hovering around $1.40-$1.45 and stayed now have a great lifestyle.
Your choice! Long term or short term?
Got here to run into a recession and in and out of work,exchange rate was around $1 = 66p,the little money I had was left in the UK while I worked out if OZ was an airport on a world travel or a life.
Tavelling on round the world tickets when I had saved up holidays and money,to get a shit exchange rate wherever I went.Everywhere was so expensive with Tahiti being extortionate.
Then the recession we had to have that almost sent me bankrupt,and the banana republic speech.
In the long run it was probably the best thing I have ever done moving here
Short term movements mean nothing if people are after a long term life here.
geordie downunder
Jan 13th 2012, 7:08 am
#19
BE Enthusiast
Joined: Sep 2004
Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: $1.48 to the £ today....this is getting ridiculous
All having a strong dollar is going to do is end up putting a lot of Australians out of work. Certainly my experience of Australian workers in IT was that they were low quality and expensive. Given that IT is being sent to India already it all adds up to a bad story. This will continue in other areas of work as the dollars strength or other currencies apparent weakness makes a more compelling case. The company I work for was going to set up a development office in Brisbane but now we are going to centralize in London because British developers are so much cheaper. It's not going to end well in Australia but hey enjoy your foreign holidays while you can.
Jan 13th 2012, 8:07 am
#20
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: $1.48 to the £ today....this is getting ridiculous
Jan 13th 2012, 8:25 am
#22
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: $1.48 to the £ today....this is getting ridiculous
The issue isn't really ht the rate is, but if it will change, or go back.
Right now I cant see it happening. The UK government are happy to keep the pound low to help exports, and the market is concerned about the exposure to the Euro.
I doubt we will see it back to 2:1 for several years.
Right now I cant see it happening. The UK government are happy to keep the pound low to help exports, and the market is concerned about the exposure to the Euro.
I doubt we will see it back to 2:1 for several years.
Jan 13th 2012, 8:28 am
#23
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: $1.48 to the £ today....this is getting ridiculous
I have my life savings in the UK and I wouldn't think for a second to bring it here. I have no desire to buy at property at current prices and love the fact I can pay smallish rent rather than a 'super mortgage' freeing up loads of cash to do what I want with. I'm loving the high A dollar and every so often when I drop a bit back over to the UK it makes my bank account so much more healthier than it did earning pounds. The glass is half full
Jan 13th 2012, 9:01 am
#24
Not allowed opinions.
Joined: Dec 2009
Location: Sydney
Posts: 4,565
Re: $1.48 to the £ today....this is getting ridiculous
All having a strong dollar is going to do is end up putting a lot of Australians out of work. Certainly my experience of Australian workers in IT was that they were low quality and expensive. Given that IT is being sent to India already it all adds up to a bad story. This will continue in other areas of work as the dollars strength or other currencies apparent weakness makes a more compelling case. The company I work for was going to set up a development office in Brisbane but now we are going to centralize in London because British developers are so much cheaper. It's not going to end well in Australia but hey enjoy your foreign holidays while you can.
I have worked with many migrants who CLEARLY don't have the background and experience they are claiming. I know one former CIO who came via the UK (originally South African though) who was erroneously claiming an MBA, Accounting Degree and Marketing Degree - all of which turned out to be bull dust.
I like the rates where they are though. They can outsource all they like - been there, done that and cleaned the floor up afterwards. I doubt it will be any better this time around.
Jan 13th 2012, 9:04 am
#25
BE Enthusiast
Joined: Sep 2004
Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: $1.48 to the £ today....this is getting ridiculous
I agree about the low quality of the IT workers here, but..... In my experience a lot of them are migrants from India or the UK. It's all to easy to blag up a bit on the old CV when you get off the plane, and who is ever going to check. If you tell me you are a Business Objects or Cognos developer you had better actually be able to use it?
I have worked with many migrants who CLEARLY don't have the background and experience they are claiming. I know one former CIO who came via the UK (originally South African though) who was erroneously claiming an MBA, Accounting Degree and Marketing Degree - all of which turned out to be bull dust.
I like the rates where they are though. They can outsource all they like - been there, done that and cleaned the floor up afterwards. I doubt it will be any better this time around.
I have worked with many migrants who CLEARLY don't have the background and experience they are claiming. I know one former CIO who came via the UK (originally South African though) who was erroneously claiming an MBA, Accounting Degree and Marketing Degree - all of which turned out to be bull dust.
I like the rates where they are though. They can outsource all they like - been there, done that and cleaned the floor up afterwards. I doubt it will be any better this time around.
Jan 13th 2012, 10:26 am
#26
BE Enthusiast
Joined: Sep 2004
Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: $1.48 to the £ today....this is getting ridiculous
Looks like ANZ are going to get rid of hundreds of more Australian workers probably to replace them with people off shore. Well I did warn all of my ex colleagues what was going to happen all I can say is that I'm glad I'm out of it and internationally competitive due to the low pound. I must remember to laugh at the ones that took out the mega mortgages against my advice.
Jan 13th 2012, 2:02 pm
#27
BE Forum Addict
Joined: Apr 2008
Location: Epsom
Posts: 1,705
Re: $1.48 to the £ today....this is getting ridiculous
I have worked with many migrants who CLEARLY don't have the background and experience they are claiming. I know one former CIO who came via the UK (originally South African though) who was erroneously claiming an MBA, Accounting Degree and Marketing Degree - all of which turned out to be bull dust.
At CIO level though, there is no doubt in my mind that someone falsely claiming MBA's etc should be prosecuted for fraud.
Jan 13th 2012, 4:13 pm
#28
BE Enthusiast
Joined: Sep 2004
Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: $1.48 to the £ today....this is getting ridiculous
But then MBA's don't mean you know what you are doing. For example the head of the part of ANZ used to proudly proclaim his MBA and he was completely useless.
Jan 13th 2012, 10:07 pm
#29
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: $1.48 to the £ today....this is getting ridiculous
Agree. You can buy your way into many MBA schools around the wolrd, and when the average age of those studying it is 28 in many schools, its hardly has the street cred it once did.
Jan 13th 2012, 10:23 pm
#30
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: $1.48 to the £ today....this is getting ridiculous
Just today, after the eurozone downgrades by S&P:
1 AUD = 0.8127 EUR
1 AUD = 0.8127 EUR