MARYROSE02 Posted July 15, 2015 Share Posted July 15, 2015 I won't be amused if I come over on my whv and can't find work at all and end up back within 2 months! I'll turn into a bitter poster lol What is the name of your hostel again? I went in for a look this morning, and I'll switch to my phone in a minute to try to post my photos. As I said, I arrived in Perth on 3 November, 1978, and spent November in a fruitless search for work. December and most of January were the same in Sydney, and I finally landed a job at the end of January nearly three months after arriving in OZ. I keep hearing young Pommie accents when I go into cafes and pubs, so there must be work available. Quote Link to comment Share on other sites More sharing options...
HappyHeart Posted July 15, 2015 Share Posted July 15, 2015 The exchange rate was 2.30 when we emigrated. That made it easier for us. Is it not better now for recent migrants? (If they have a job) Quote Link to comment Share on other sites More sharing options...
Parley Posted July 16, 2015 Share Posted July 16, 2015 The exchange rate was 2.30 when we emigrated. That made it easier for us. Is it not better now for recent migrants? (If they have a job) Yes I think the exchange rate must make a big difference to how people feel about the success of their move. If they sell a home in UK and bring over a sizeable amount at a good exchange rate like you got, they should do well. If there are less concerns about money then it is easier to be happy. Some have won both ways and returned to the UK when the rate was favourable for a return. So perhaps flexibility of when to go and possibly when to return can make a huge difference. Quote Link to comment Share on other sites More sharing options...
akiralx Posted July 16, 2015 Share Posted July 16, 2015 Are you sure that 'most buys are for investment purposes' and the 'average Sydneysider has given up on buying a home?' Just over half of new home loans are for 'investment' properties (I prefer the term speculation properties) rather than for owner-occupiers. That is a terrible statistic. As Dave53 says above, houses are at their least affordable in history right now, that is an economic fact. Quote Link to comment Share on other sites More sharing options...
Parley Posted July 16, 2015 Share Posted July 16, 2015 Just over half of new home loans are for 'investment' properties (I prefer the term speculation properties) rather than for owner-occupiers. That is a terrible statistic. As Dave53 says above, houses are at their least affordable in history right now, that is an economic fact. Do you have any links to back up your economic facts ? Quote Link to comment Share on other sites More sharing options...
Guest Posted July 16, 2015 Share Posted July 16, 2015 Exchange rate is getting so much better, great as I have a fair chunk to transfer.It could be the end of the Australia is so expensive posts which are mainly based on exchange rates Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted July 16, 2015 Share Posted July 16, 2015 It was $1.60 when we came :frown: but I'm still glad we made the move then and not now. Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted July 16, 2015 Share Posted July 16, 2015 Do you have any links to back up your economic facts ? http://blog.corelogic.com.au/2015/03/what-does-a-10-cap-on-growth-in-investment-mortgage-lending-look-like/ Here is one, showing monetary lending proportions- Home owners 65% investor 35% Quote Link to comment Share on other sites More sharing options...
Guest Posted July 16, 2015 Share Posted July 16, 2015 It's only money, just means can now afford to buy a more expensive suburb, probably not much better off in long run Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted July 16, 2015 Share Posted July 16, 2015 Some people talk about 'The good old days' and some people talk about 'The bad old days' but I think the truth is that every generation thinks they are hard done by, whilst the ones that came before them had it easy. In 1978 I faced the world as a 24 year old. Today, I face it as a 61 year old. Australia did not seem like a Utopian Paradise when I arrived. I was on my own. I knew nobody. I could not get a job. I wanted to go home, but my Dad talked me out of it. The only ways I could communicate with 'home' were by phone from the GPO at Martin Place or writing 'snail mail.' Why do you say it was easy to buy a house in 1978? And presumably easy to buy a house in 1968, 1958, 1948, 1938, 1928, 1918, 1908? I have lived through depressions without realizing they were happening because I happened to be working in a secure job, but it wasn't 'easy' to buy a house in 1987, when I bought mine. You still had to have a deposit, which my parents actually 'loaned' to me. I'd still be renting now had they not done that. An interest rates were horrendous in the 1980's reaching I think as high as 18 per cent. My parents bought their first house in the UK in 1954 and if it was easy for them, I wonder why they both had to work full time, whilst raising three boys? You are also measuring 'easy' purely in terms of being able to get a job and/or buy a house. Ten Pound Poms had to commit to staying two years in Australia before they could go home without paying the Australian government the cost of their fares. Their feelings of isolation were far greater then too, Easier in financial terms is what was meant. Money seems sadly to be the common currency of measurement of things these days sadly. I agree though. Coming out green behind the gills in 1978 may well have had a greater degree of personal difficulty than those that arrive at a similar age today when hundreds of thousands make the pilgrimage as back packers. It is more organised in every way. Still an element of the rawness and adventure is likely lacking from your time. No Back packing hostel in every town in those days and Perth only had really two. Both YHA's. Back packers liked to call themselves travellers in those days and felt a little unique no doubt. I know all about the interest rates but house prices were certainly affordable (a city apartment 2 bedroom could be had for $30,000) Rates didn't stay that high for that long. Not forgetting the scams at the time. Easy to open bank accounts under several different names claim the dole and work. Easy days. They obviously couldn't last. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted July 16, 2015 Share Posted July 16, 2015 Are you sure that 'most buys are for investment purposes' and the 'average Sydneysider has given up on buying a home?' Even if it was true, it would mean that investors were confident of enough people working to be able to afford to pay off their investments. If the outlook is less than rosy then all those investors will be heading for a fall. 'Buying to let' has always been popular in Sydney, or at least popular since negative gearing was introduced. It might be hard to buy a home in Sydney, but it does not mean that 'the average Sydneysider' has given up on it. News Videos Tips Your Questions Property Guides Calculators Renovations Investor Centre Home Loan Centre [*]Blog [*]Invest [*]My Domain [*]Place an Ad Home ownership rises in Sydney Date June 19, 2012 Dr Andrew Wilson A resilient Sydney housing market supports home ownership submit to reddit Email article Print Recent announcements have positive implications for the ongoing health of the Sydney housing market. Reserve Bank Assistant Governor Guy Debelle revealed last week that Australian housing markets were unlikely to record the steep price falls experienced by some markets in Europe and the US. The underlying resilience of Australian housing markets has of course been apparent for some time and was never really in question given the long-term attachment of Australians to home ownership. Home ownership rates in Australia have declined only marginally over the past 5 years despite the impact of two significant downturns in buyer activity levels during that period. According to the 2011 Census, 67 percent of Australian households either own their own home or are in the process of owning their own home with a mortgage. This compares to the 68 percent recorded in 2006. Australia’s home ownership rates have been relatively consistent for over 50 years. Sydney recorded the best performance in home ownership growth of all the capitals rising from 62.2 percent in 2006 to 65.2 percent in 2011. This is despite Sydney having clearly the nation’s highest capital city median house prices. Sydney’s home ownership rate would have increased since the census data was collected in August of 2011. This increase is a result of a surge in first home buyers recorded over the later part of 2011 and into 2012 driven by state government changes to buyer stamp duty concessions and grants. The state government indicated that it also proposes to implement changes to the planning system designed to streamline the development approval process. With current residential construction levels struggling to cater for Sydney’s rising housing demand it can be hoped that this initiative will enhance Sydney’s recent surge in home ownership. Dr Andrew Wilson is Senior Economist for Australian Property Monitors. Yes don't you take in what you read in the Australian. The big majority of housing in Sydney is for investment purposes. Few markets can continue like that that, regardless of the ever increasing at times laundry of funds by outsiders into the market. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted July 16, 2015 Share Posted July 16, 2015 Are you sure that 'most buys are for investment purposes' and the 'average Sydneysider has given up on buying a home?' Even if it was true, it would mean that investors were confident of enough people working to be able to afford to pay off their investments. If the outlook is less than rosy then all those investors will be heading for a fall. 'Buying to let' has always been popular in Sydney, or at least popular since negative gearing was introduced. It might be hard to buy a home in Sydney, but it does not mean that 'the average Sydneysider' has given up on it. News Videos Tips Your Questions Property Guides Calculators Renovations Investor Centre Home Loan Centre [*]Blog [*]Invest [*]My Domain [*]Place an Ad Home ownership rises in Sydney Date June 19, 2012 Dr Andrew Wilson A resilient Sydney housing market supports home ownership submit to reddit Email article Print Recent announcements have positive implications for the ongoing health of the Sydney housing market. Reserve Bank Assistant Governor Guy Debelle revealed last week that Australian housing markets were unlikely to record the steep price falls experienced by some markets in Europe and the US. The underlying resilience of Australian housing markets has of course been apparent for some time and was never really in question given the long-term attachment of Australians to home ownership. Home ownership rates in Australia have declined only marginally over the past 5 years despite the impact of two significant downturns in buyer activity levels during that period. According to the 2011 Census, 67 percent of Australian households either own their own home or are in the process of owning their own home with a mortgage. This compares to the 68 percent recorded in 2006. Australia’s home ownership rates have been relatively consistent for over 50 years. Sydney recorded the best performance in home ownership growth of all the capitals rising from 62.2 percent in 2006 to 65.2 percent in 2011. This is despite Sydney having clearly the nation’s highest capital city median house prices. Sydney’s home ownership rate would have increased since the census data was collected in August of 2011. This increase is a result of a surge in first home buyers recorded over the later part of 2011 and into 2012 driven by state government changes to buyer stamp duty concessions and grants. The state government indicated that it also proposes to implement changes to the planning system designed to streamline the development approval process. With current residential construction levels struggling to cater for Sydney’s rising housing demand it can be hoped that this initiative will enhance Sydney’s recent surge in home ownership. Dr Andrew Wilson is Senior Economist for Australian Property Monitors. Sydney is anything but a healthy market. Ordinary folk are priced out or unwilling to sell their lives to the service of debt. Australian homeownership is in decline with a growing number expecting never to enter the market as things stand. Quote Link to comment Share on other sites More sharing options...
fifi69 Posted July 16, 2015 Share Posted July 16, 2015 It was $1.60 when we came :frown: but I'm still glad we made the move then and not now. thats the thing, exchange rate can be crap, but job opportunities good. or like now, good exchange rate, but work rate slowing. you have to be willing to take the risk. Quote Link to comment Share on other sites More sharing options...
MARYROSE02 Posted July 16, 2015 Share Posted July 16, 2015 Yes don't you take in what you read in the Australian. The big majority of housing in Sydney is for investment purposes. Few markets can continue like that that, regardless of the ever increasing at times laundry of funds by outsiders into the market. Domain is Fairfax! But you do have to remember that on the Herald letters page, the leftie, greenie, Abbott hating, everything capitalist hating, people rule, but when it comes to Private property and Sydney's property market, all that leftie stuff is brushed aside. To give them their due, Domain has always been king of the housing market. Quote Link to comment Share on other sites More sharing options...
MARYROSE02 Posted July 16, 2015 Share Posted July 16, 2015 Easier in financial terms is what was meant. Money seems sadly to be the common currency of measurement of things these days sadly. I agree though. Coming out green behind the gills in 1978 may well have had a greater degree of personal difficulty than those that arrive at a similar age today when hundreds of thousands make the pilgrimage as back packers. It is more organised in every way. Still an element of the rawness and adventure is likely lacking from your time. No Back packing hostel in every town in those days and Perth only had really two. Both YHA's. Back packers liked to call themselves travellers in those days and felt a little unique no doubt. I know all about the interest rates but house prices were certainly affordable (a city apartment 2 bedroom could be had for $30,000) Rates didn't stay that high for that long. Not forgetting the scams at the time. Easy to open bank accounts under several different names claim the dole and work. Easy days. They obviously couldn't last. Green behind the Gills? I like it but it means looking nauseous rather than the wide eyed gullible yokel arriving in Gotham ripe to buy the Sydney Harbour Bridge from the first wide boy he meets. Mind you, I WAS a gullible and naive yokel! My point is that there will always be recessions and booms and you can never pick the right time to come to Australia or to buy and sell a house. My parents bought a place in Narrabeen in 1981 and sold in 1987 for little profit only to see prices boom again. They missed out tho I benefited from buying low in 1987. Quote Link to comment Share on other sites More sharing options...
MARYROSE02 Posted July 16, 2015 Share Posted July 16, 2015 Exchange rate is getting so much better, great as I have a fair chunk to transfer.It could be the end of the Australia is so expensive posts which are mainly based on exchange rates They always irritated me because of my belief that there is no 'optimum' time to emigrate, any more than there is an optimum time to support your football team or maybe fall in love? When I came in 1978, I never gave a thought to checking the FX rates, and I had spent the entire year before I left England researching just about everything else. As it happens, the exchange rate was poor - something like $1.45 to the pound. Should I have postponed my coming to Australia until the exchange rates improved? I doubt that and if I had made that choice, I probably never would have come. And please, PLEASE if anybody is reading this, don't tell me that it was different then, or I was young and single, or some other BS reason. I faced many obstacles before I finally felt settled in Australia, actually only in the last few years, and following a twelve year stint back in England. Oh, and when I returned to England, I did not try to pick the optimum time to emigrate there either. In 1996, I was made redundant after fifteen years, and I was devestated, but I went back to England for an extended holiday. If I had waited a year, my Mum would have been dead, and I would not have seen her. Quote Link to comment Share on other sites More sharing options...
fifi69 Posted July 16, 2015 Share Posted July 16, 2015 I feel sad that OH loves it here so much, that he won't even go back for a holiday. I keep thinking he may regret it!! in particular to see his mum, but there again she did kind of bring it on herself, none of the four boys seem bothered about her:huh: You reap what you sow n all that. I will if needed return for my mums sake, if things get so bad, but I'm a only child and grew up in a single patent family. She spent her life putting me first...I would want to do the same for her:wubclub: Quote Link to comment Share on other sites More sharing options...
akiralx Posted July 16, 2015 Share Posted July 16, 2015 Do you have any links to back up your economic facts ? http://www.abc.net.au/news/2015-06-09/property-investment-lending-jumps-but-apra-crackdown-may-bite/6533236 'However, the latest Bureau of Statistics housing finance figures show that, after already surging 7.1 per cent in March, new investor lending grew 2.6 per cent that month, seasonally adjusted. That was a little lower than the value of owner-occupied loans but, excluding refinancing, investors still accounted for half of all new loans nationally.' I'm sure I have read somewhere that new investment loans account for about 52% of the total. Quote Link to comment Share on other sites More sharing options...
KIRK AND CO Posted July 16, 2015 Share Posted July 16, 2015 interesting article! definitely not an ideal time to be thinking of moving over will probably end up just validating my visa and working in london for a bit, but who knows! a lot can change in a few years.There is always mug who will. This thread will be deleted from there brain as soon as read as its not what they want to hear. Quote Link to comment Share on other sites More sharing options...
starlight7 Posted July 16, 2015 Share Posted July 16, 2015 I would be more than happy if the flow of immigrants slows because we have far too many here already. When and if all those residents looking for a job are successful- then is the time for more to come, not now. Quote Link to comment Share on other sites More sharing options...
Quinkla Posted July 16, 2015 Share Posted July 16, 2015 I would be more than happy if the flow of immigrants slows because we have far too many here already. When and if all those residents looking for a job are successful- then is the time for more to come, not now. You are not getting economics. There is no finite number of jobs - there is no sense that migrants are taking our jobs. Migrants bring much needed skills and experience and diversity. They make the economy stronger and more capable. Plus, if they come as skilled adults, they don't place a burden on Australia of needing to educate and train them - they are ready and able to participate in the economy. Migrants will just add to the overall level of economic activity, creating new jobs. Migration is the one key strength in Australia's pretty shaky economy. Quote Link to comment Share on other sites More sharing options...
Parley Posted July 16, 2015 Share Posted July 16, 2015 True starlight. A large majority of 457s are known to be fraudulent. While it is fine for skilled migrants to come to some degree. Most of the 457s could be done by Australians. There are lots of highly skilled and qualified Australian residents who are under employed or unemployed. Quote Link to comment Share on other sites More sharing options...
Guest51810 Posted July 16, 2015 Share Posted July 16, 2015 What is the name of your hostel again? I went in for a look this morning, and I'll switch to my phone in a minute to try to post my photos. As I said, I arrived in Perth on 3 November, 1978, and spent November in a fruitless search for work. December and most of January were the same in Sydney, and I finally landed a job at the end of January nearly three months after arriving in OZ. I keep hearing young Pommie accents when I go into cafes and pubs, so there must be work available. im staying in wakeup hostel for almost 2 weeks. I got told by a few agencies/people that november is probably the best time for work in sydney but we'll see.. Quote Link to comment Share on other sites More sharing options...
bristolman Posted July 16, 2015 Share Posted July 16, 2015 Fewer people are moving to Australia for various reasons, obviously one is that the economy in the UK for instance has improved greatly so there isn't the perceived improvement from moving to the other side of the world. Australia is an expensive place to live, it's hard to argue with that. The exchange rate will make a difference. 3 or 4 years ago if someone earning £50,000 was offered a post in Australia earning $100,000 that would look attractive as the UK earnings would have converted to less than $75,000. Today that UK wage would be in excess of $100,000 so no immediate benefit. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted July 16, 2015 Share Posted July 16, 2015 Domain is Fairfax! But you do have to remember that on the Herald letters page, the leftie, greenie, Abbott hating, everything capitalist hating, people rule, but when it comes to Private property and Sydney's property market, all that leftie stuff is brushed aside. To give them their due, Domain has always been king of the housing market. Nothing leftie pointing out the $1.9 TRILLION mountain of household debt in the Australian context is treading on very dangerous ground indeed. A tremor will make the American housing collapse of recent years a walk in the park. Of course what is lacking, especially in the Murdoch press is any meaningful or open debate on the toxic and rising levels of household debt. All part and parcel of the government/real estate/ financial/media scheme of things of course. Quote Link to comment Share on other sites More sharing options...
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