RioMarina Posted April 24, 2012 Share Posted April 24, 2012 Just read the news that it is predicted that Aus interest base rate is to change by at least - 0.5 %. The government have warned the Bank Treasury they need to reduce this rate. Is alarm bells starting to ring. Super high housing prices, super high dollar and the cost of living is immense. Bank lending has been far worse than the U.K or America. Worrying times me thinks. Time will tell. Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted April 24, 2012 Share Posted April 24, 2012 PLEEEEEEEEEEEESE be right, just a mini recession, say for about a year, not like the 3 year chronic slump we are suffering here in the UK with no sign of it ending, so that the dollar zooms up and the house prices drop and we can scrape back some of the two hundred thousand dollars plus we are down. Link to comment Share on other sites More sharing options...
Petals Posted April 24, 2012 Share Posted April 24, 2012 They are doing this all the time up a little down a little and nothing much changes in the housing market or in the dollar exchange. Plus the banks will not put int down if they feel its not to their advantage. The problem is housing is a commodity in short supply due to the amount of people arriving in Aus every week from overseas. Not just from the UK but from everywhere. Link to comment Share on other sites More sharing options...
4lan Posted April 25, 2012 Share Posted April 25, 2012 They are doing this all the time up a little down a little and nothing much changes in the housing market or in the dollar exchange. Plus the banks will not put int down if they feel its not to their advantage. The problem is housing is a commodity in short supply due to the amount of people arriving in Aus every week from overseas. Not just from the UK but from everywhere. While I agree with the first portion of your post I think the sweeping generalisation about the housing market needs balance; there has been a slow down in the construction industry (broadly speaking) caused in part by the high cost of borrowing and low buyer confidence. Yes, there has also been legislation to allow non permanent residents to purchase property however I understand this subsequently been restricted. Blaming the short supply of housing on 'people arriving in Aus' is divisive, there are no records to support this position. Is it tough to purchase/rent a property in Australia? Well depending on your income, savings and expectations it can be. However if supply is not meeting demand that is an infrastructure issue which is managed by the various governments. It's not as if the immigration numbers are 'unknown' each year or what natrualised population growth should be. For example if someone arranged a party at home for their partner, 3 children and one grandparent then invited 2 guests; It would not be the guests fault if the host ran out of chairs for people to sit on would it? Blame the host not the guests. 4lan Links One and Two. Link to comment Share on other sites More sharing options...
Quinkla Posted April 25, 2012 Share Posted April 25, 2012 PLEEEEEEEEEEEESE be right, just a mini recession, say for about a year, not like the 3 year chronic slump we are suffering here in the UK with no sign of it ending, so that the dollar zooms up and the house prices drop and we can scrape back some of the two hundred thousand dollars plus we are down. I suspect that if you get your wish, there will be huge implications for public sector recruitment which may not help you in the long run. Link to comment Share on other sites More sharing options...
Guest guest36187 Posted April 25, 2012 Share Posted April 25, 2012 Cost is living here is not overly expensive. Things have gone up but hey, they have gone up in many places!! Link to comment Share on other sites More sharing options...
Peach Posted April 25, 2012 Share Posted April 25, 2012 Just read the news that it is predicted that Aus interest base rate is to change by at least - 0.5 %. The government have warned the Bank Treasury they need to reduce this rate. Is alarm bells starting to ring. Super high housing prices, super high dollar and the cost of living is immense. Bank lending has been far worse than the U.K or America. Worrying times me thinks. Time will tell. Lol. Folk with an opinion that strong normally have a vested interest.. Link to comment Share on other sites More sharing options...
Skani Posted April 25, 2012 Share Posted April 25, 2012 Just read the news that it is predicted that Aus interest base rate is to change by at least - 0.5 %...... Bank lending has been far worse than the U.K or America. What a ridiculous post heading!:rolleyes: The Reserve Bank is always adjusting the official interest rate up and down in response to economic conditions. It usually happens a couple of times a year. It is probable it will go down 0.25% at their next monthly meeting. However the other banks aren't obliged to alter their rates accordingly. And as for bank lending being "far worse than the UK and America" ????? :err: Before the GFC Australian banks were lending somewhat more liberally than they are now, but they had nothing like the sub prime mortgage lending of the US. And no Australian bank had problems like UK banks such as Northern Rock or the Bank of Scotland. All "big four" of the Australian banks are rated in the top 18 safest banks in the world - only 1 UK bank is (and no US bank). Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted April 25, 2012 Share Posted April 25, 2012 I suspect that if you get your wish, there will be huge implications for public sector recruitment which may not help you in the long run. Unemployment is very low at present in Australia and th jobs we are after seem always to be in demand, when the dollar was at 2.2 to £1 unemployment was still,very low compared to the UK. Link to comment Share on other sites More sharing options...
jamjar Posted April 25, 2012 Share Posted April 25, 2012 Dont kid yourselves there are issues in Australia. Things will pull back, major recession/colapse not likely but the dollar is way over valued and is hitting a lot of industries. Every economist writes about this on a weekly basis, and anybody who thinks its not knows nothing about ecomomics. As a lot of large companies hedges unwind this is going hit even harder. So I do expect the rate to go up, 2.4 - NO chance, 1.80 is more realistic. Are house prices are over-valued, hell yes (especially in Sydney, Melbourne and Perth). Most recon that they are 25% over-valued. But every major city around the world is also over-valued. And Sydney and Melbourne are major cities, Perth is due to the mining boom. But will they crash, no - they never really do, UK had a massive recession and London property hit a wobble, 10% correction that it has already recovered plus more. From what I have read online, it seems that property prices have already pulled back a bit compared to 12 - 18 months ago. And if China sneezes then watch out, cause then Oz could hit the wall for a short period of time. I too wouldnt mind Oz going into a small recession :-0 Link to comment Share on other sites More sharing options...
Splash77 Posted April 25, 2012 Share Posted April 25, 2012 you dont get $2.20 to the pound....dont know where you have that info from...you get around $1.50 for a pound... Link to comment Share on other sites More sharing options...
Guest Guest66881 Posted April 25, 2012 Share Posted April 25, 2012 Small waves keep the surf board going, massive waves will have you off it quicker than anything. Link to comment Share on other sites More sharing options...
Chardy Posted April 25, 2012 Share Posted April 25, 2012 I'll be very happy with 1.8 on the exchange if that can happen for August please !!!:ssign2: Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted April 25, 2012 Share Posted April 25, 2012 you dont get $2.20 to the pound....dont know where you have that info from...you get around $1.50 for a pound... It was clearly a reference to the past. You have mis read what was said. Link to comment Share on other sites More sharing options...
Guest guest36187 Posted April 25, 2012 Share Posted April 25, 2012 I'm looking to get currency for my uk trip! 1.8 works for me as ll!! Lol Far cry from the 2.53 I got when I arrived here seven years ago!!! Lol lol Link to comment Share on other sites More sharing options...
jamjar Posted April 25, 2012 Share Posted April 25, 2012 I'll be very happy with 1.8 on the exchange if that can happen for August please !!!:ssign2: I'll try my best but no promises :ssign4: Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted April 25, 2012 Share Posted April 25, 2012 I'm looking to get currency for my uk trip! 1.8 works for me as ll!! Lol Far cry from the 2.53 I got when I arrived here seven years ago!!! Lol lol WHY, WHY WHY WHY WHY have you posted this lol, 2.53 .......... 2.53 ........ It would be amazing getting that now, we would be set up with a brilliant house, near the sea, with a pool and jacuzzi and a car each, debt free, instead with the rate at 1.55 we need at least $200k plus to get that now. Lucky you, you moved at the right time. Link to comment Share on other sites More sharing options...
Guest guest36187 Posted April 25, 2012 Share Posted April 25, 2012 Ah Hoff!! It was seven years ago! The good old days!!! Lol Link to comment Share on other sites More sharing options...
jamjar Posted April 25, 2012 Share Posted April 25, 2012 OOPS UK just double dipped, that aint going to help the rate :no: Link to comment Share on other sites More sharing options...
Guest Guest66881 Posted April 25, 2012 Share Posted April 25, 2012 I am saying nothing, my lip is bit through. Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted April 25, 2012 Share Posted April 25, 2012 OOPS UK just double dipped, that aint going to help the rate :no: I haven't put the news on, its not saying this on sky is it, some financial body the OCHD or something like that, said the UK was actually in recession a couple of weeks back, double dip makes out we actually came out of recession, but we have either been in recession or flat lined for about 3 years now and the predicted growth this year is 0.8% which isn't good and last year they kept down grading the growth prediction. Link to comment Share on other sites More sharing options...
Peach Posted April 25, 2012 Share Posted April 25, 2012 WHY, WHY WHY WHY WHY have you posted this lol, 2.53 .......... 2.53 ........ It would be amazing getting that now, we would be set up with a brilliant house, near the sea, with a pool and jacuzzi and a car each, debt free, instead with the rate at 1.55 we need at least $200k plus to get that now. Lucky you, you moved at the right time. $200k is only 3 x times an average income here.... Link to comment Share on other sites More sharing options...
4lan Posted April 25, 2012 Share Posted April 25, 2012 Are house prices are over-valued, hell yes (especially in Sydney, Melbourne and Perth). While I 'sort of' agree with your point perhaps you should say 'over-priced'. A value is determined by what someone is prepared to pay, I think your point is with the 'price' really. On a side note; I notice that most online figures/graphs exclude Darwin. Wonder why.. 4lan Link to comment Share on other sites More sharing options...
4lan Posted April 25, 2012 Share Posted April 25, 2012 OOPS UK just double dipped, that aint going to help the rate :no: Like that is 'recent' news. I left the UK nearly 12 months ago and this was a generally accepted fact for a year or more then.. 4lan Link to comment Share on other sites More sharing options...
Guest The Ropey HOFF Posted April 25, 2012 Share Posted April 25, 2012 $200k is only 3 x times an average income here.... Not wages mate, i'm referring to what we are down which is at least $200,000 from when we first started the visa process, i know we never had it, but in those days the dollar was always above $2 to £1 no one could have predicted it dropping to what it has, we would be happy if it went up to $2 again. Link to comment Share on other sites More sharing options...
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