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Anyone Quitting Aus due to High Cost of Living

Anyone Quitting Aus due to High Cost of Living

Old Apr 21st 2011, 4:04 am
  #766  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by bcworld
As Keith said, converting salaries based on the exchange rate doesn't tell you much. The exchange rate is close to multi decade lows. Rewind 10 years for the opposite situation and that $43k was equal to about £14-15k.
And the price of a house in Perth was around $150,000......
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Old Apr 21st 2011, 4:11 am
  #767  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by commonwealth
china & india will continue buying aussie resources for decades to come. they have a long way to go in terms of per-capita income and if they are to achieve higher per-capita incomes they will continue growing at high speeds and will continue buying aussie products.

the current exchange rate in my opinion will become the "normal" one for decades to come.
No one can see the future but in Chinas it looks increasingly unlikely that high growth will continue at such rates with their over inflated economy. Interest rate increase there last week suggests they are attempting to slow things down.
Not forgetting the Chinese housing market is above the means of most.
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Old Apr 21st 2011, 4:25 am
  #768  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by Wol
I've just been trolling this thread and here's my two pen'north.

Many of the older people on here rely on UK funds coming out, so at least for them the exchange rate is extremely relevant: their income has gone down by around 40% over the last eighteen months or so.

More to the general point, the mafia-like importer cartel mindset does make many things EXTREMELY expensive in whatever terms you care to use. I'm not talking 10 or 20 percent - but multiples.

Two examples of things I have bought recently: a replacement irrigation sprinkler cost $62.70 in my local irrigation shop (that's the recommended manufacturer's price) and it is recommended at US$11.95 in the US, available online for US$9.95. Australian price, even allowing for US sales tax, six times the US price for the same part no.

Another item: I bought velcro at IIRC about $6.95 per metre: the identical product on a US site was US$0.65 plus tax. The Australian cost: ten times the US price.

One can quibble about transport costs, taxes, etc etc but the fact remains that the Australian prices are big multiples of the prices abroad - and the bovine population here doesn't know or doesn't care that they are being ripped off big time on an hourly basis.

Don't get me started on the cost of fruit and veg
You've got to be a bit of a plonker if you haven't had the foresight of converting at least some of your income stream into local currency when moving abroad?

Everyone knows prices in the US are way cheaper than most countries, I remember all the newspaper comparisons of goods priced in GBP and USD having the same number.
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Old Apr 21st 2011, 4:42 am
  #769  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by jimbo_d
You've got to be a bit of a plonker if you haven't had the foresight of converting at least some of your income stream into local currency when moving abroad?

Everyone knows prices in the US are way cheaper than most countries, I remember all the newspaper comparisons of goods priced in GBP and USD having the same number.
You are obviously a financial wizard - tell me how I could have arranged my monthly pension to be converted six years ago at that exchange rate? I and many others would dearly like to know!

And of course it's general knowledge that US prices are cheaper than most countries. But six, ten, times cheaper?

(Signed, plonker )
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Old Apr 21st 2011, 5:08 am
  #770  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by bcworld
As Keith said, converting salaries based on the exchange rate doesn't tell you much. The exchange rate is close to multi decade lows. Rewind 10 years for the opposite situation and that $43k was equal to about £14-15k.
Thanks dudes, I guess that sounds more sensible..

I think we get shafted for everything wherever we are, pretty much..
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Old Apr 21st 2011, 5:14 am
  #771  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by Amazulu
London is not, overall, much cheaper than Sydney IMO
I've lived in both over the last 12 months and London is in my experience much cheaper than Sydney, shockingly so in face. I wouldn't have moved back if it wasn't. 6 months here has just confirmed my impression of this. God help those moving to Sydney if they didn't come from London first, the prices must be a real shock for them.
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Old Apr 21st 2011, 5:19 am
  #772  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Sydney is one if not the most popular migrant destination in the world. Prices are going to reflect that demand.
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Old Apr 21st 2011, 5:22 am
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by Weebie
Sydney is one if not the most popular migrant destination in the world. Prices are going to reflect that demand.
That argument might have some merit with regard to housing (a relatively illiquid commodity), but I can't see it's application to other goods and services were economies of scale should apply. All of those immigrants need to work.
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Old Apr 21st 2011, 5:45 am
  #774  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by Wol
You are obviously a financial wizard - tell me how I could have arranged my monthly pension to be converted six years ago at that exchange rate? I and many others would dearly like to know!

And of course it's general knowledge that US prices are cheaper than most countries. But six, ten, times cheaper?

(Signed, plonker )
There are plenty of companies that specialise in shifting UK pensions abroad, you can do it yourself if you understand QROPS (which I don't!). That you expected the exchange rate to be consistantly favourable and didn't move it is no ones fault but your own.
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Old Apr 21st 2011, 5:49 am
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by isgraham
I've lived in both over the last 12 months and London is in my experience much cheaper than Sydney, shockingly so in face. I wouldn't have moved back if it wasn't. 6 months here has just confirmed my impression of this. God help those moving to Sydney if they didn't come from London first, the prices must be a real shock for them.
When I moved out from London 6 years ago it was exactly the opposite, everything in Sydney was a third less
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Old Apr 21st 2011, 6:37 am
  #776  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Looks to me like people in the UK are coming to the horrible realisation that the shift in financial power is flowing down to the general populace. The fact seems to be that Asians that are approved for migration to Australia are finding it easier to afford than people from Europe..

Australias ties are rapidly shifting from Europe to Asia in all aspects. This region is starting to develop a strong financial gap between it and the rest of the world.
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Old Apr 21st 2011, 7:19 am
  #777  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by jimbo_d
When I moved out from London 6 years ago it was exactly the opposite, everything in Sydney was a third less
When I moved over to Sydney 5.5 years ago I agree completely that it was cheaper but not any more.
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Old Apr 21st 2011, 7:21 am
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by isgraham
When I moved over to Sydney 5.5 years ago I agree completely that it was cheaper but not any more.
it's all relative though, high wages = high cost of living, wages have stagnated and fallen in the UK together with a big currency depreciation
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Old Apr 21st 2011, 7:23 am
  #779  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by ozzieeagle
Looks to me like people in the UK are coming to the horrible realisation that the shift in financial power is flowing down to the general populace. The fact seems to be that Asians that are approved for migration to Australia are finding it easier to afford than people from Europe..

Australias ties are rapidly shifting from Europe to Asia in all aspects. This region is starting to develop a strong financial gap between it and the rest of the world.
They say Melbourne and Sydney will be mostly Asian in 50 years, this country is changing for good, all that interbreeding is only for the best as well, those Eurasion chicks are simply stunning.
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Old Apr 21st 2011, 7:29 am
  #780  
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Default Re: Anyone Quitting Aus due to High Cost of Living

Originally Posted by jimbo_d
it's all relative though, high wages = high cost of living, wages have stagnated and fallen in the UK together with a big currency depreciation
True, but the UK has relatively high inflation for a major western economy (4%+ and climbing). If it continues this will cause huge problems without interest rate rises.
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