Anyone Quitting Aus due to High Cost of Living
Jul 14th 2011, 11:46 am
#1951
da Bonehead
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Re: Anyone Quitting Aus due to High Cost of Living
Are people just not bothering selling UK property now? The rental return in the UK can be pretty good with interest rates so low (unless you bought at the peak). Hardly anyone is going to sell their UK house and transfer at 1.5 then buy an Aussie house already falling in value. You'd have to be a bit of a muppet to do that......
There are other ways of doing that though.
However it does make me chuckle when people claim poverty in Aus yet they own UK property. That is a choice they make.
Jul 14th 2011, 11:55 am
#1952
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Re: Anyone Quitting Aus due to High Cost of Living
Obviously that goes without saying. It's much more of an "Oh No" here than an OMO.
I did hear somewhere, that I could buy a couple of Mini's in the UK, for the price of a box of soap powder here, so it really is quite a good deal.
I did hear somewhere, that I could buy a couple of Mini's in the UK, for the price of a box of soap powder here, so it really is quite a good deal.
Jul 14th 2011, 12:05 pm
#1953
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Re: Anyone Quitting Aus due to High Cost of Living
Yes but if you buy online you can get three.
Jul 14th 2011, 12:15 pm
#1955
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Re: Anyone Quitting Aus due to High Cost of Living
This emphasises a point I keep banging on about. You fail to consider it is different for everyone.....which I suppose is pretty stupid . 
A couple of months before leaving my UK company to emigrate I had a wage increase that put me just over GBP 20k for the first time in my life.
Family of four who rarely ventured outside our local town. We had no holidays ever, and few luxuries. Everything we had was invested in our house. I was the only one working for 15 years as we wanted the missus home with the kids. She started working part-time at Tescos for the last couple of years. We had no car and I learnt to drive so we could come to Australia.
I travelled around Europe a bit with my work but had never been to Australia before or a hot country. Rest of the family had effectively not set foot on a plane before. Our adventure therefore put us totally in at the deep end to Far North QLD.
My first wage here was about $70k so we were rolling in it compared to the UK and able to do things we had never been able to afford. Even now 6 years later we would be very comfortable on that wage.
It's relative.
A couple of months before leaving my UK company to emigrate I had a wage increase that put me just over GBP 20k for the first time in my life.
Family of four who rarely ventured outside our local town. We had no holidays ever, and few luxuries. Everything we had was invested in our house. I was the only one working for 15 years as we wanted the missus home with the kids. She started working part-time at Tescos for the last couple of years. We had no car and I learnt to drive so we could come to Australia.
I travelled around Europe a bit with my work but had never been to Australia before or a hot country. Rest of the family had effectively not set foot on a plane before. Our adventure therefore put us totally in at the deep end to Far North QLD.
My first wage here was about $70k so we were rolling in it compared to the UK and able to do things we had never been able to afford. Even now 6 years later we would be very comfortable on that wage.
It's relative.
Can you pop over and train us in parsimony? I'm not making ends meet for two of us on $70k.
For the people that have to sell their UK property to use the equity to move over then I'd say that would be financial suicide - unless they have a decent job already lined up.
Jul 14th 2011, 1:03 pm
#1956
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Re: Anyone Quitting Aus due to High Cost of Living
Are people just not bothering selling UK property now? The rental return in the UK can be pretty good with interest rates so low (unless you bought at the peak). Hardly anyone is going to sell their UK house and transfer at 1.5 then buy an Aussie house already falling in value. You'd have to be a bit of a muppet to do that......
Jul 14th 2011, 1:10 pm
#1957
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Re: Anyone Quitting Aus due to High Cost of Living
sydney property purchase is on hold and we are currently saving up again to buy another one in the UK.
with the dollar to pound as it is at the moment, UK property seems like the best place for investing in, in my opinion.
Jul 14th 2011, 1:11 pm
#1958
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Re: Anyone Quitting Aus due to High Cost of Living
Can you pop over and train us in parsimony? I'm not making ends meet for two of us on $70k.
For the people that have to sell their UK property to use the equity to move over then I'd say that would be financial suicide - unless they have a decent job already lined up.
For the people that have to sell their UK property to use the equity to move over then I'd say that would be financial suicide - unless they have a decent job already lined up.
It's what you get accustomed to I guess.From a year ago our income reduced to under $60k and 50% of that goes to a mortgage.
Yeah, they need property prices to increase in UK and decrease in Aus to help offset the exchange rate.
Jul 14th 2011, 1:16 pm
#1959
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Re: Anyone Quitting Aus due to High Cost of Living
we just bought one outright, using out 20% deposit for a sydney house. a three bed terrace somewhere in Lancashire.
sydney property purchase is on hold and we are currently saving up again to buy another one in the UK.
with the dollar to pound as it is at the moment, UK property seems like the best place for investing in, in my opinion.
sydney property purchase is on hold and we are currently saving up again to buy another one in the UK.
with the dollar to pound as it is at the moment, UK property seems like the best place for investing in, in my opinion.
I know people vacated in droves but surely that means there is a good rental market there.
Wouldn't it be better to have one in UK and one in USA?
Jul 14th 2011, 1:23 pm
#1960
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Re: Anyone Quitting Aus due to High Cost of Living
we just bought one outright, using out 20% deposit for a sydney house. a three bed terrace somewhere in Lancashire.
sydney property purchase is on hold and we are currently saving up again to buy another one in the UK.
with the dollar to pound as it is at the moment, UK property seems like the best place for investing in, in my opinion.
sydney property purchase is on hold and we are currently saving up again to buy another one in the UK.
with the dollar to pound as it is at the moment, UK property seems like the best place for investing in, in my opinion.
Right now our household income is less than $60k. Not what I want it to remain because things are a bit tight right now but we're surviving and even managing to put a small amount away into an emergency fund.
Jul 14th 2011, 1:25 pm
#1961
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Re: Anyone Quitting Aus due to High Cost of Living
Jul 14th 2011, 1:26 pm
#1962
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Re: Anyone Quitting Aus due to High Cost of Living
Part of me would love to buy a whole street in Detroit for 10,000
I would feel like an uber property pimp, and it would be a great annecdote.
However they have some crazy taxes that get applied in the states. In addition tyo property tax and 'council tax' there are seasonal tax like "Summer Tax" and Winter Tax, I believe, as well as potentially quite harsh regulations for overseas landlords, depending on state. Rental market in such areas would probably be quite poor at the moment. If I were moving over there, and I would in the blink of an eye, and could better maintain a portfolio then I absolutely would.
Also, I wouldnt be able to send my parents and and my aunt and uncle to have a look at places on my behalf, and perform menial odd jobs at my request
Well I'm sure they'd be delighted to go to the states and look on my behalf, but that would involve me buying lots of airfares and the like.
Jul 14th 2011, 1:35 pm
#1963
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Re: Anyone Quitting Aus due to High Cost of Living
Also, I wouldnt be able to send my parents and and my aunt and uncle to have a look at places on my behalf, and perform menial odd jobs at my request
Well I'm sure they'd be delighted to go to the states and look on my behalf, but that would involve me buying lots of airfares and the like.
Well I'm sure they'd be delighted to go to the states and look on my behalf, but that would involve me buying lots of airfares and the like.
Jul 14th 2011, 1:43 pm
#1965
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Re: Anyone Quitting Aus due to High Cost of Living
UK property is a good bet. It's got significant population growth, is a small country with 'greenfield' sites, property prices too high for lots of people to ever buy (no point buying in Oz where there are areas of continuous building curtailing any demand squeeze), interest rates at historic lows and some great deals around in the current climate.
It's a hassle managing them from over here but find a decent odd job chap and you don't need to pay an agent to do anything. It's one thing that has worked rather well in my recent heap of poor decisions.... The houses I have in London return much more than an Oz term deposit even with the currency disparity.
It's a hassle managing them from over here but find a decent odd job chap and you don't need to pay an agent to do anything. It's one thing that has worked rather well in my recent heap of poor decisions.... The houses I have in London return much more than an Oz term deposit even with the currency disparity.
