aston man

dont believe all you read about em..

on a trip to rockingham today,i was amazed that you can get a 4 x 2 for just over 300k...im sure they were bundles more than that,this time last year...

rockpeblar

We're still renting at the mo whilst deciding which area to buy in. Left our house in the UK rented out which is paying the mortgage. Looks like prices are falling in both countries just don't know by how much but we'll wait another 6-12 months and see what happens. At least having had the UK house valued in May we shouldn't get hit with capital gains tax as it's probably dropped in value since then.

billymacker

how will you get hit with capital gains tax and where

rockpeblar

If you have a house in the UK when you move to Oz which is valued at say £200k, if you were to sell that house at a later stage, whilst still resident in Australia, for say £250k then you will have to pay tax on £50k in Australia. This is my understanding.

renth

Not if you haven't purchased a house in Australia. If you rent in Oz the house in UK remains your primary residence and not subject to CGT.

billymacker

it was your main resident in the uk no tax to pay

aston man

hey sorry if im being thick here,but how would the aus tax know your money was from a house sale??
would they ask?

billymacker

only if you was daft and told them.

eddie007

SHUT UP DONT SAY ANOTHER WORD SHUT UP SHUT UP SHUT UP

...... its ok....... I don't think anyone heard you... House prices in Rockingham are still affordable to us cash strapped pomms but for gods sake don't tell anyone else...

mbike

Oh dear Ast

Reiwa's whole argument about house prices is based on inward migration pushing up demand and here you are on the foremost migrant forum spoiling it for them.

We are at an interesting point in the market here in WA where - certain suburbs apart - there is a stand off between wary buyers (who don't want to buy at the top of the market) and delusional sellers (who can't quite believe their house isn't worth what it was 6 months ago).

Up until now the great aussie dream has pushed a lot of migrants over the line with a house purchase. But with the market slowing in the UK, more seem to be renting out there and renting when they get here. So those properties for sale just keep sitting there.

Thankfully most people on here seem to feel that a house is somewhere to live their life in, rather than just another efficient investment vehicle for retirement, so anyone buying will be in it for long-term happiness rather than short-term gain.

Mark

rockpeblar

That's exactly what we're doing - renting our UK property out and renting here. Good opportunity to try out different areas before buying an Aussie property. At the end of the day as long as the UK mortgage is paid for and all the insurances, etc then we don't have to worry about it. Let's see what happens in 2008 when Aussie interest rates continue to climb.

billymacker

yes when we came out 4 year ago we got $2.90 to the pound bought house outright time to sell now and rent a house here and change money back in to pounds $2.25 and buy a uk property to rent out until the $ falls again

bruce67

Prices to the South like Rockingham, non coastal Mandurah and in between etc have dropped/slowed down - lots of for sale signs about. Believe prime properties on the beach are still going well. If there is another interest rate rise it could be interesting.

Bruce

aston man

mate the banks rose their rates yesterday..

youngy73

rate rises equal rent rises.