dotty

I fully understand that last year, you could get 2.85 to the pound. However is it not a bit unrealistic to expect that it should stay that way for ever? Charts prove otherwise. Even Johnnie Howard seems happy that the dollar is going up.

My point is, while waiting in the UK for the dollar to return to dizzy heights what is happening to the price of the property you want to buy in OZ. If its in Perth or QLD I would guess it will probably be going up.

Worse still, what happnens if the pound drops further?

In other words

Pound goes down you loose more on exchange.

Wait till (IF) the pound goes up, but your gains go up in smoke because OZ house prices have rose in that time.

I know the aussie property market, money wise I think 2.5 to 1 is pretty good money in most peoples books. I'd be getting on the OZ property market now, not waiting for a few cent gain on the exchange rate.

What is the point of saying "a year ago I could have got 2.85, a year ago a house in OZ was $100,000 cheaper", its all history now.

Nicstids

What is the point of saying "a year ago I could have got 2.85, a year ago a house in OZ was $100,000 cheaper", its all history now. [/QUOTE]


Human nature to do that !!

I just wish we had a crystal ball - we can't even get over to Oz for another 3 years so anyone's guess what the situation will be then!

dotty

Human nature to do that !!

I just wish we had a crystal ball - we can't even get over to Oz for another 3 years so anyone's guess what the situation will be then! [/QUOTE]

Having just reread that is sounds really harsh doesn't it, I tried to word it more softly but it doesnt work, hope you can see I'm not trying to be smart but just offering me opinion on how it looks from OZ when you can see the way property is going here.

Gra.B

No, you're quite right. Risky business waiting for things to change. Better off investing in property than currency. Imagine renting for 1yr, property increase of 20%, then finding rate of $2 / £1! Sod that!

BUY BUY BUY! (......as they say.)

karawara88

Its just like shares a few years back, they wont, go down anymore, no they will recover soon, its a minor blip, if I just wait another month. Ahhhhhhhhhh

Same with currency now, do I bung my £s into $s maybe it will gain a bit, it wont fall much more, I will give it a few more weeks. Ahhhhhhhhhh

Its why vegas makes so much cash, just one more quarter and it could be the big one.

Don

Compounded by those who refuse to accept a realistic price for their UK house price and sell sooner rather than later. Here's the nightmare scenario:

- wait a stubborn year before selling house in UK (thought house was worth 10% more than it is because next door sold at the peak) - in the meantime market drops another 20%
- GBP worsens 20% against the AUD
- house prices go up 20% in Aus.

I make that a considerable dent in the family fortune.

Cheers - Don

booboo1

even when the exchange rate was high my family always worked on the ratio of £1 = $2.50. So if it was higher then that would be a bonus if not then nothing lost really. we will gain things in other ways by moving back to melbourne.

Im looking at the bigger picture!

Cheers
BooBoo

Richard & Lisa

My advice is to contact a company called Halewood International Foreign Exchange - www.hifx.co.uk. I was advised to use these guys by an Australian Financial Advisor. Check out their website for a wealth of superb information. You will not get a better exchange rate than these guys. They have a lot of options ideal for Migrants looking for the best exchange rate. An example of this,is you can agree to buy currency at an agreed rate (for example 2.75), the moment the exchange rate reaches that amount, Halewood will automatically buy it for you. All you have to do is pay 10% of the total amount of Sterling purchased. Halewood will then hold it for you until you wish to transfer it to your account overseas (up to 18 months). They also came top of the Reuters poll for the best Financial Market predictions. They are also very helpfull. Glad to be of any help.

karawara88

The working link for above is http://www.hifx.co.uk

Thanks Richard & Lisa I will be checking that site out.

r.bartlett

some friends now north east of adelaide used these

http://www.miplc.co.uk/home.htm

and thought they were very good..

cheers

richard