stariston

http://www.bloomberg.com/apps/news?p...Kwlg&refr=home


Seems its a global thing as thay say

Red_V_Roger

Lets hope so - may be it will make up for the 20% and may be more that we have lost on the exchange rate since coming....a lot of money when you are looking to move house buying money out of the UK.

temptininnit

Things are slower now than when we arrived, lenders are also more cautious but the demand is still strong due to immigration and investors.

What has changed is that many aussies are smelling a quick buck. With some predicting a price fall people are delaying buying and investors are dumping property in order to buy back in as prices fall.

Brisben

When you say LOST 20% what do you mean lost ?

Do you mean you failed to exchange at a better time from a financial perspective>?

Red_V_Roger

I mean LOST in the sense that I now have to FIND another 20%

stariston

Not replys was expecting to say they least:
could be leaving the melting pot and entering the fire
seems Australian house prices have a lot more to fall
than uk prices
I think the only safe haven to invest your hard earned house
lumpsum is in barrels of oil

steveyp

I used to think Australian house prices were mad too. But having been here 3.5 years I can understand it more now.
Yes they are mad but Australia is a very different place than the UK, the natural resources Australia has will ensure demand for housing remains high due to immigration. Negative gearing ensures investors can get good tax advantages from investment in housing (assuming they buy at the right time in the cycle, but ultimately property values will rise long term) and Australian culture likes to take a risk and is generally always optimistic.
Are they going to fall? Some areas certainly yes (and they already are), others no.
And as for exchange rates, we wanted 2.6 when we got here (I think it went higher in the months before we came) and had to settle for 2.47. But low $2 exchange rates, I can't even contemplate that! My heart goes out to you, personally I would sit on it.
Steve

stariston

Australian house prices are due a correction all the old lucky country
stuff and its different than the uk battler stuff wont wash
with global finance you got it or you aint when it comes
mortgage borrowing i am afraid