pomtastic

I was just thinking that if the GBP and the AUD reached parity at some time in the future, i.e. 1 pound £ = 1 Aussie $, would I be tempted to go back to UK?

With all this talk of the GBP getting devalued, who knows, this may happen?

Alot of English came over 10 years ago when the GBP was 3:1 and many were economic migrants due to the fact that they could come migrate to Australia and become owners of a mortgage free, great big house in a decent suburb with cash left over to buy boats, 4x4, jetskis etc. It made economic sense, better lifestyle, mortgage free or lower mortgage than UK.

From reading this expat forum recently, I sense that many people coming to Australia are dependant on getting a good exchange rate for their GBP just to be able to set up here, never mind a house deposit.

Anyway, if the AUD/GBP did reach parity, I would absolutely seriously consider going back to UK, I would be mortgage free in a good area of the SE of UK with money over to buy cars and stuff so job dependancy wouldn't be such a big issue if I didn't have rent/mortgage to pay. I'd be able to save harder for a pension compared to paying for a mortgage in Australia and not being able to save as much for a pension.

All in all, I'd be better off. What about you, would you do it?

loz

I wouldn't consider going back to the UK at any price:

ABCDiamond

It would make many people think about it.

The thought of parity just made me think about it..... but... money isn't everything.

I tried to imagine what it would be like, but on balance, I think I would rather stay where I am.

Not that I wouldn't consider some financial aspects of the situation, like using my Australian funds to buy things in the UK.

NKSK version 2

Me too - I'd be buying up things in the UK with my new found wealth.

ozzieeagle

Cant because it would upset my kids schooling too much. I think it's irreponsible to move Teenagers after personal experience of rearing children for 27 years.. Youngest still has high school to go through,. no amount of money is worth the upset it would cause him.

If I took the kids out of the equation I would seriously consider it..... I doubt if my Aussie Wife would like the idea though.

One thing from my point of view is it could mean I wouldnt have to work again..... So thats a big drawcard..... I could possibly retire.

Comes back to my Kids though.

pomtastic

Just say, the GBP £ reached parity with AUD $, i.e 1:1, would you still come over to migrate to Australia or would you delay it for as long as you could until the visa expired?

Or would you still make a go of it?

DeadVim

Damn straight.

pomtastic

It's funny how people's experiences in the UK differ. I had a good life in UK as I do here in Perth, I guess it comes down to where you lived in UK, the people surrounding you, the company you keep and a little bit of luck.

I would consider going back to UK from a purely economic perspective only, that would be my price.

NedKelly

Me neither, but maybe some of the moaners on these boards who keep slagging off Australia should use the current exchange rate as a reason to go back now just in case it doesn't get to parity. I came here when it was 2.7 to 1. Now it's 1.7 to 1. Come on all you whingers, bite the bullet and make your plans, you can then even post in the MBTTUK forum with vigor.

pomtastic

You are right, it is all about your kids.

I have to say Australia, in my experience is a far better environment to bring up children and that would be a massive factor.

Good point Ozzieeagle, from a retirement perspective it would be extremely tempting.

iamthecreaturefromuranus

Everybody seems to be discounting the idea but for me, probably about 10 years from retirement, I couldn't think of anything better to happen.

Return to the UK as a cashed up pensioner???.... bloody right I would.

ozzieeagle

Especially if you could spend plenty of time holidaying in Aus...

iamthecreaturefromuranus

Exactly... or weeks at a time in the Med. I think anybody dissmissing it out of hand isn't really thinking through.

Parity would mean selling up an average $600k Oz house, back to the UK, buy 300 grand house outright, 300 grand in the bank and an Oz pension, paying what would be a reasonable sum when converted back to pounds, and a UK pension as well. Sounds good to me.

ozzieeagle

If your retired you could buy a smaller 200K place.... thats my thinking.... wouldnt need to be near work. Only problem I see would be transport.... could go anywhere so Transport would be the main driver.


Any Suggestions anyone ?

Vash the Stampede

I would go back to the UK, buy some property, have a nice holiday and come back again.

If parity continued, I'd be back for a holiday every year and see a bit of Europe while I was there.