dotty

I know its only gone up 3 cents, but for the Aussie dollar thats a miracle and frankly I'm hoping it climbs higher. Is it true house prices are slowing in the UK, all I read seems to suggest they are. My escape from the bottom of the world is looking positive. Any opinions on what might happen dollar/property wise? UK here we come.

pomijean

Hi Dotty,I hope its true,i,m getting the animals rabies shots done this month,can,t wait to get home,I want a house in Devon or Cornwall,I check the estate agents over there and there seems to be a lot on the market,have to go down a lot in price yet,I,m sure they will.

pommiesheila

Dotty,

The news from friends in the South East of UK is that property prices are DEFINITELY on the downward trend. Other areas (e.g. North of England) have maintained a slow but steady increase over the last few months).

As for the $ £ ratio - who knows? But looking at all the Forex websites, the long-term forecast for the equation is definitely in your favour - hang on in there girl - don`t sell them bucks yet!!!

Goose

Hi Dotty, pomijean and pommiesheila,

I have done so much research over the past few weeks and there is no doubt in my mind that the Aus $ is going improve significantly against the pound (perhaps even to 1996 levels of 2:1)

If you have the patience read this one on one interview between two contrarian investment gurus. From it you will gather:

1. Don't be invested in stocks at the moment,
2. Do be in cash,
3. Don't be in property at the moment since it is going to crash'
4. Aus $ is going to improve as a result of the Aus economy being commodity based

http://www.financialsense.com/transc...echter2003.htm

We still have 3/4 of our money in pounds and whilst Australia is not going to be our home for much longer, I intend moving more of our money into Aus $ to take advantage of the improving exchange rate.

Good luck!

scoobydooathome

Hi,

You will only find the price of over - priced London property, i.e. 750000 pounds or more not getting full price, in other words they have to let them go at 15% down on asking price, but still a huge profit

As for other parts of the U.K. prices are still rising, growth will be 5 / 10 % in the next 3 / 5 years,

Our house has gone up by 80000 pounds in the last 18 months, who cares about 20 grand or so, still in mega profit, £££k

Cheers,

Terry

For dotty.

I am surprised that one logical point has been overlooked.

If you were planning to spend the rest of your life in UK wouldn,t what that currencys worth also be relevant.? After all do you fancy spending your days working for a currency worth (as it was 33p).

Swings and roundabouts and all that.

Ceri

I think they've slowed down a bit. In the past year my brother, and my brother-in-law have bought houses in the UK(my brother-in-law two houses in the past 3 years)
It seems that the houses they bought a year ago, are worth the same amount now.

I've been looking at the real estate sites for the past couple of years in Wales. And to me, the house prices have slowed up a bit, they are the same price they were 6 months ago to a year ago - I do suppose it depends on what part of the UK it is though.


I didn't want to build in Aus, but hubby convinced me otherwise saying that "we are not going to lose".

Anyway, what I am thinking of doing, when it comes to go from this "fine land " is not selling my house here (when it's built!) but maybe re mortgaging it, or half re mortgaging it (we are basically buying this house in cash - don't owe the banks much) and then maybe renting it out when we leave.

Take the money home to the UK from the mortgage, and leave the house here with renters paying the mortgage. So at the end of day, years ahead, in my retirement, I have a house in Aus which hopefully is worth a bomb - if they keep rising here - a nice nest egg for us which a renter has paid for.


cheers

jockney

Hi,Things seem to be repeating themselves in the property market with the exeption of interest rates.Several agents I spoke to this week in the south east have discounted or are saying that asking prices are not being met any more.It was the same position 12 years ago and changes in interest rates then tipped the balance and prices tumbled.The papers in the uk are running scare stories nearly every day with economic bad news and statistics like today:50% of all uk working population if buying from scratch could now not get a morgage for the average house price.Who knows what could scupper prices this time economically in the uk things dont look to good for the near future{balance of payments deficet,tax rises,20% council tax rises , stocks and shares,pensions struggling.}I think that people not being able to join the housing market will tip the balance this time if not a war.Good luck with your return to the uk.Just my opinion but things are going to get very rough in the uk financially,security wise and overcrowding so dont burn your bridges just incase.The gates are going to open soon to all the proposed new members of the eu having free passage into the uk.This is already agreed and taxes will rise to pay for this.Wont worry the gov because they will not be classed as asylum seekers so wont increase the 110'000 that gatecrashed last year.

AndrewR

Sorry to be so blunt, but really this is a load of old rot!!
(see my reply in OZ/NZ section for a few more words)

captaincook

i have to say i monitor the house prices in london and southern uk via the internet in the areas i know well.

i know I am rather sad but have been watching the number of properties on one particular web site called findaproperty.com which is updated daily. i have kept a spreadsheet for over a year and from time to time record the number of houses available via the site in the wimbledon and raynes park areas and the results are unbelieveable at the moment. the number of houses on the market is going off the scale and almost everytime i bother to update my little chart about once a week or so i have to reset the axis as the line just keeps jumping higher.

its not very scientific but my little chart tells me prices have to fall as there is just too much supply and very little demand apparent.

hampshire on the other hand seems to have moved higher again and 4 bed 5 bed detached are now listed higher than ever.

mark19964

true most areas in London are selling up, but thats down to red Ken and he's lovely increases as well as the congestion charge.

You'll also have to factor in that all the london boroughs are facing big increases to supplement those poor scots. This would also be true for the south of england in general thanks to new Labour.

Politics aside, in general London is on the downside as far as central london goes and most of the boroughs, but overall prices in the UK continue to grow albeit at a slower rate - last month was 0.01%.

In the shire counties prices are still going strong, For example I live in a 3 bed cottage the size of a 2 car garage in Florida. We bought it 18 months ago for £153,000, it was valued last week at £230,000. Is the market slowing !! depends on area, here houses are selling within 5 weeks of going on market. It would be true to say we're lucky, as we have excellent schools at all levels and No serious crime and immigrants.

Quite simply its coming down to what and who is in the area - thats what housebuyers are looking at.