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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Feb 22nd 2010, 7:56 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by palmer59
This is getting ridiculous....I've been planning on moving here for some time....I've been in Sydney for three months again and go back to the UK in a couple of days....all I see is house prices going up and up here....the cost of living going up here fast......and interest rates on the rise.....widening the gap between base rate here and the UK......all this with property in the UK still down on 2007 and probably due to go down again .....
The ex rate hit 1.71 today and I just don't see how Brits can possibly emigrate to Oz anymore with such disparity between house prices and such a truly appalling exchange rate....and yet all I see here is overseas buyers paying crazy amounts for flats and houses....somebody please tell me what is going on......I am far from stupid.....but really don't get it.....
I really think that the ex rate may well fall below 1.60 now.....what possible reason can there be for the pound improving....
So frustrating to find the year that I have planned to move is turning out to be the worst in 30 years for the AU$/£ and that the housing market here is racing ahead as ours continues to suffer thanks to the GFC induced mortgage famine !!!
I share your frustrations. This has been a 10 year project for me and just when I'm good to go - this

Letting out the property in the UK and renting in Aus is increasingly looking like the only option.
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Old Feb 22nd 2010, 8:13 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
I share your frustrations. This has been a 10 year project for me and just when I'm good to go - this

Letting out the property in the UK and renting in Aus is increasingly looking like the only option.
That's a pretty inferior option in my opinion as rents are shooting up here and I know they are stable at best but more likely falling in the UK....especially in the house market with all the frustrated sellers competing with each other for tenants.
When I first visited Oz in 2002 the ex rate was around $2.90 to the pound and all my Aussie friends constantly referred to 3:1 as the accepted exchange ratio.
Today.....only 8 years on I'm looking at 1.7 to 1 and no reason to think it will change radically anytime in the next 2-3 years at least......
I wonder how many Brits would ever have considered the possibility of UK interest rates EVER being at 0.5 %.....the FTSE being 25% down from 1999 and the Oz dollar being worth going on twice what it was in sterling terms from 2002 ......
And to add to my misery......I go back to the UK on Sunday after another wonderful summer here again !!
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Old Feb 22nd 2010, 8:15 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by eugene43
Lets not bring the bravest people i can think of into this & calling them a load of dead soldiers I feel very ashamed they are heros.
I have nothing but sympathy for them, but I'm ashamed only that this govt got them killed in our name, and for what exactly?
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Old Feb 22nd 2010, 8:24 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by palmer59
That's a pretty inferior option in my opinion as rents are shooting up here and I know they are stable at best but more likely falling in the UK....especially in the house market with all the frustrated sellers competing with each other for tenants.
When I first visited Oz in 2002 the ex rate was around $2.90 to the pound and all my Aussie friends constantly referred to 3:1 as the accepted exchange ratio.
Today.....only 8 years on I'm looking at 1.7 to 1 and no reason to think it will change radically anytime in the next 2-3 years at least......
I wonder how many Brits would ever have considered the possibility of UK interest rates EVER being at 0.5 %.....the FTSE being 25% down from 1999 and the Oz dollar being worth going on twice what it was in sterling terms from 2002 ......
And to add to my misery......I go back to the UK on Sunday after another wonderful summer here again !!
Here in London the rental incomes are still pretty good and more than matches Australian rentals in any part of that country. I accept that I could be looking at another ten year plan during which time I'll buy another property in Australia and sell the one in London (in no particular order).
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Old Feb 22nd 2010, 8:28 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
I have nothing but sympathy for them, but I'm ashamed only that this govt got them killed in our name, and for what exactly?
I feel so angry when I think about it. The Nu-Labour government have spared no British person from their great betrayal. And they want us to take another look at them???? :curse::curse::curse:
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Old Feb 22nd 2010, 8:28 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
I have nothing but sympathy for them, but I'm ashamed only that this govt got them killed in our name, and for what exactly?
The British armed forces are 100% volunteers. Nobody forced us to sign up. We are basically an instrument of State policy... and go where we are told.

It's nice if the folks back home support the reason you are there, but not vital.... about the worse thing you can hear is "that they died for nothing"
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Old Feb 22nd 2010, 8:37 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by iamthecreaturefromuranus
The British armed forces are 100% volunteers. Nobody forced us to sign up. We are basically an instrument of State policy... and go where we are told.

It's nice if the folks back home support the reason you are there, but not vital.... about the worse thing you can hear is "that they died for nothing"
I think the vast majority of the people in the UK support the forces all the way, Wootton Bassett is a great demonstration of this, but a great many question why we (as a country) in Afghanistan and (especially) Iraq and that's an iditement of the govt an no-one else.
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Old Feb 22nd 2010, 8:44 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
I think the vast majority of the people in the UK support the forces all the way, Wootton Bassett is a great demonstration of this, but a great many question why we (as a country) in Afghanistan and (especially) Iraq and that's an iditement of the govt an no-one else.
The actions of the people in Wooton Bassett are everything that is great and good about the UK. It brings tears to my eyes when I see it on the TV.
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Old Feb 22nd 2010, 9:20 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by palmer59
That's a pretty inferior option in my opinion as rents are shooting up here and I know they are stable at best but more likely falling in the UK....especially in the house market with all the frustrated sellers competing with each other for tenants.
When I first visited Oz in 2002 the ex rate was around $2.90 to the pound and all my Aussie friends constantly referred to 3:1 as the accepted exchange ratio.
Today.....only 8 years on I'm looking at 1.7 to 1 and no reason to think it will change radically anytime in the next 2-3 years at least......
I wonder how many Brits would ever have considered the possibility of UK interest rates EVER being at 0.5 %.....the FTSE being 25% down from 1999 and the Oz dollar being worth going on twice what it was in sterling terms from 2002 ......
And to add to my misery......I go back to the UK on Sunday after another wonderful summer here again !!
Frustrated sellers, rents going down ? again reading the wrong or out of date newspaper.
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Old Feb 22nd 2010, 9:46 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by eugene43
Frustrated sellers, rents going down ? again reading the wrong or out of date newspaper.
Reading the wrong papers??
I own a home in a place in West Sussex voted only last year as the Jewel in The Crown of English market towns.....it's been up for sale for 18 months with only silly offers well under peak 2007 values...I also own two rental properties in Sussex.....both easy access to London rail lines and in great areas.....and potential tenants all want to pay below market rents due to the over supply of rental property out there....I don't need newspapers to tell me how the property market really is !
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Old Feb 22nd 2010, 9:51 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by eugene43
Frustrated sellers, rents going down ? again reading the wrong or out of date newspaper.
To add to that....I've been to a large number of Open for Inspection viewings on properties in Sydney since Christmas......and they are all swamped with potential buyers.....I also have an interest in a residential letting business in Sydney.....and rents here are going up as fast,if not faster than the interest rates are being increased by the RBA.
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Old Feb 22nd 2010, 10:15 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by palmer59
To add to that....I've been to a large number of Open for Inspection viewings on properties in Sydney since Christmas......and they are all swamped with potential buyers.....I also have an interest in a residential letting business in Sydney.....and rents here are going up as fast,if not faster than the interest rates are being increased by the RBA.
as per todays article then ?

Home ownership even more out of reach
http://www.news.com.au/money/propert...-1225833066676

The association is forecasting a moderate housing recovery in 2010 with about 152,000 dwelling starts.
But that's still below the 190,000 required to keep pace with Australia's population growth.
"Without the required new home building to keep up with underlying requirements, house prices and rents are expected to continue pushing upwards through 2010," Mr Phillips said.
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Old Feb 22nd 2010, 10:32 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by palmer59
Reading the wrong papers??
I own a home in a place in West Sussex voted only last year as the Jewel in The Crown of English market towns.....it's been up for sale for 18 months with only silly offers well under peak 2007 values...I also own two rental properties in Sussex.....both easy access to London rail lines and in great areas.....and potential tenants all want to pay below market rents due to the over supply of rental property out there....I don't need newspapers to tell me how the property market really is !
Find a decent estate agent then
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Old Feb 22nd 2010, 10:39 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by palmer59
....and potential tenants all want to pay below market rents due to the over supply of rental property out there...
....sounds like you're not asking for 'market rents' then?
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Old Feb 22nd 2010, 11:21 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by eugene43
Find a decent estate agent then
A decent estate agent !.........now there's an oxymoron !!!
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