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Oz Dollar gaining strength

Oz Dollar gaining strength

Old Mar 23rd 2002, 8:14 am
  #1  
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Default Oz Dollar gaining strength

Having tracked the exchange rate between the AUS $ and £ over the last few months, I`m getting increasingly concerned that we will get far less for our money soon. As, like most people I suspect, we will have the money from the sale of our house, we are talking large sums here.

Does anyone have any ideas as to what might happen over the next few months?
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Old Mar 23rd 2002, 5:06 pm
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Default Re: Oz Dollar gaining strength

I don't think anyone will be able to tell you that, the same as nobody can predict
equity prices on a stock exchange. I track the tourist rate every day and it has
remained around 2.6 to 2.8 ish to the pound for quite some time. Jez.

"Teri Mitchell" <[email protected]> wrote in message
news:[email protected]...
    > Having tracked the exchange rate between the AUS $ and £ over the last few months,
    > I`m getting increasingly concerned that we will get far less for our money soon.
    > As, like most people I suspect, we will have the money from the sale of our house,
    > we are talking large sums here.
    >
    > Does anyone have any ideas as to what might happen over the next few months?
    >
    >
    >
    > --
    > Posted via http://britishexpats.com
 
Old Mar 26th 2002, 6:09 am
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Default Re: Oz Dollar gaining strength

On Business Sunday a few months ago, much discussion was going on about it being unlikely that the dollar would go much higher for abour 2 years if ever at all. I totally agree that it is very very hard to predict and financial analysts often are wrong. It often has spurts up to 37 but rarely lasts. The economy here is going well at the moment driven by a boom in the housing industry, which may well slow as interest rates begin to rise and the First Home Buyers scheme ends. Dont forget most world events and recessions hit here later than in Europe and the USA.

Getting 2.6 or 2.8 is still excellent, I think the questions I would be asking myself is how I will be affected when left holding my worldly assets in Australian currency. Also a lot of items in Aus look cheap when you are "buying them in Pounds", but they wont look so cheap when you are buying them in dollars. The aussie government likes the low dollar it makes exports very attractive and tourism is boosted by the chronic (lack of)worth of the dollar. Personally I would love it to go up, but dont hold out a lot of hope, which talking to business assoc/friends seems to be the general view. Maybe a bit more rise then slump again. Keep an eye on house prices tho they are escalating rapidly in some parts, was in Sydney last week and certainly horrified by the cost of living there. Good bargains in Brisbane but consider the climate. All the best Dot.
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Old Mar 26th 2002, 3:15 pm
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Default Re: Oz Dollar gaining strength

Can you please explain what the first homebuyers scheme is.

Thanks.

On 26 Mar 2002 08:42:52 -0600, dotty <[email protected]> wrote:

    >On Business Sunday a few months ago, much discussion was going on about it being
    >unlikely that the dollar would go much higher for abour 2 years if ever at all. I
    >totally agree that it is very very hard to predict and financial analysts often are
    >wrong. It often has spurts up to 37 but rarely lasts. The economy here is going well
    >at the moment driven by a boom in the housing industry, which may well slow as
    >interest rates begin to rise and the First Home Buyers scheme ends. Dont forget most
    >world events and recessions hit here later than in Europe and the USA.
    >
    >Getting 2.6 or 2.8 is still excellent, I think the questions I would be asking
    >myself is how I will be affected when left holding my worldly assets in Australian
    >currency. Also a lot of items in Aus look cheap when you are "buying them in
    >Pounds", but they wont look so cheap when you are buying them in dollars. The aussie
    >government likes the low dollar it makes exports very attractive and tourism is
    >boosted by the chronic (lack of)worth of the dollar. Personally I would love it to
    >go up, but dont hold out a lot of hope, which talking to business assoc/friends
    >seems to be the general view. Maybe a bit more rise then slump again. Keep an eye on
    >house prices tho they are escalating rapidly in some parts, was in Sydney last week
    >and certainly horrified by the cost of living there. Good bargains in Brisbane but
    >consider the climate. All the best Dot.
 
Old Mar 26th 2002, 3:15 pm
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Default Re: Oz Dollar gaining strength

Take a look at http://www.firsthome.gov.au/.

Cheers, Paul.

"ivan" <[email protected]> wrote in message
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    > Can you please explain what the first homebuyers scheme is.
 
Old Mar 26th 2002, 3:36 pm
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Default Re: Oz Dollar gaining strength

Interesting, Paul. I was under the impression that the First Home grant was not applicable to people who had previously owned a house anywhere. This site seems to suggest that unless you've owned a house in Australia before, you may be eligible. In other words, migrants to Australia selling their homes in, let's say, the UK and reinvesting the proceeds in a home in Australia could be eligible. I am reading that correctly?
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Old Mar 27th 2002, 9:05 am
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Default Re: Oz Dollar gaining strength

Colin, I'm not 100% clear on this. In one of the eligibility points, it says
"Eligible applicants must be natural persons, who are Australian citizens or
permanent residents, who are buying or building their first home in Australia", so
that sounds OK if you're a 1st time buyer in Australia. But another point says "To
qualify for assistance, neither the applicant nor their spouse (or de facto) must
have previously owned a home, either jointly, separately or with some other person.",
and that doesn't specify Australia.There's an FAQ on the State Revenue Office website
for Victoria, one of the points is as follows : "Am I eligible if I have owned a
residential property before 1 July 2000, but rented the property out and not occupied
it myself? No. You are not eligible if you or your partner have previously owned a
home before 1 July 2000 in Australia, whether you have lived in the home or not."

So, on balance, I would say that it is available to migrants with PR, who have not
owned property in Australia before (this goes for the Spouse too). Best to confirm
this though.

Cheers, Paul.

"colin" <[email protected]> wrote in message
news:[email protected]...
    > Interesting, Paul. I was under the impression that the First Home grant was not
    > applicable to people who had previously owned a house anywhere. This site seems to
    > suggest that unless you've owned a house in Australia before, you may be eligible.
    > In other words, migrants to Australia selling their homes in, let's say, the UK and
    > reinvesting the proceeds in a home in Australia could be eligible. I am reading
    > that correctly?
 
Old Mar 27th 2002, 9:08 am
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Default Re: Oz Dollar gaining strength

Thanks Paul. Will check it out when we get there...every little helps, of course!

Colin
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Old Mar 27th 2002, 9:18 am
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Default Re: Oz Dollar gaining strength

I have friends in Adelaide who bought a house and qualified for a home grant of some kind. I presume it was the one you are refering to. They had previously owned a home together in UK.

Hope this helps

Claire
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Old Mar 27th 2002, 9:21 am
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Default Re: Oz Dollar gaining strength

Thanks Clare, sounds encouraging.

Col
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Old Mar 28th 2002, 1:19 am
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Default Re: Oz Dollar gaining strength

Residents from overseas are eligible for the first homebuyers scheme, even if they owned a home overseas. There has been much outry that Australians cant qualify if say either of a couple owned before but that people from say the US, UK, NZ can own a house then qualify. The scheme is up for review again, for rules after June 30.
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Old Mar 28th 2002, 6:47 am
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Default Re: Oz Dollar gaining strength

Thanks for the clarification, dotty...it doesn't seem fair but it would be churlish to turn it down!!
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