newjez Posted October 11, 2016 Share Posted October 11, 2016 (edited) It is pretty rare for prices to actually drop- usually they just remain static in a recession unless there is a real crisis like the Americans with their borrowing. I can't ever remember prices dropping in the 43 years here. Perth has dropped by about 10% Darwin by more North West WA by a lot more I think lots have dropped previously. Edited October 11, 2016 by newjez Quote Link to comment Share on other sites More sharing options...
Rallyman Posted October 11, 2016 Share Posted October 11, 2016 It is pretty rare for prices to actually drop- usually they just remain static in a recession unless there is a real crisis like the Americans with their borrowing. I can't ever remember prices dropping in the 43 years here. Prices plumeted in London in the early 90s recession, like they have done this time outside on London, Quote Link to comment Share on other sites More sharing options...
Fisher1 Posted October 11, 2016 Share Posted October 11, 2016 Prices plumeted in London in the early 90s recession, like they have done this time outside on London, Prices also plummeted in some areas of London in 2008. Current prices in North Wales are about 30% lower than eight years ago - which is strangely comforting because they can't get much worse, the drop has already happened. Quote Link to comment Share on other sites More sharing options...
Fisher1 Posted October 11, 2016 Share Posted October 11, 2016 It is pretty rare for prices to actually drop- usually they just remain static in a recession unless there is a real crisis like the Americans with their borrowing. I can't ever remember prices dropping in the 43 years here. Pity:-) Quote Link to comment Share on other sites More sharing options...
Rallyman Posted October 11, 2016 Share Posted October 11, 2016 Prices also plummeted in some areas of London in 2008. Current prices in North Wales are about 30% lower than eight years ago - which is strangely comforting because they can't get much worse, the drop has already happened. We sold our house in north Wales earlier this year so fully understand and agree , we left in 2010 And if we had sold then it would have been a loss. Quote Link to comment Share on other sites More sharing options...
Fisher1 Posted October 11, 2016 Share Posted October 11, 2016 (edited) Just a reminder that you did more than just answer the question asked! so I saw what you were banging on about! Just saying. Look. If you have taken the trouble to go back to my posts and quote the two most recent, you will be aware that they were part of an ongoing conversation triggered by someone writing that brexit hasn't changed anything much yet, and probably wasn't going to change anything much. Given that the OP lives twelve thousand miles away from the UK, I was trying (perhaps clumsily) to point out that things have already changed for some people. i used the phrase that "the sky had already fallen in" because these were the original OPs words and I thought they would make more impact. Perhaps not a good style choice but hey, we all make mistakes. A further poster asked me if the Brexit vote had really made much difference to my life. Hence the first of the two posts you have requoted above. The point of both posts was to rebut the claim that very little has changed since Brexit. Because it has. The most noticeable change is that the pound is at a 31 year low. That is why I chose the pound as my example. Its usual to change the subject and move things along a bit, but if you post something that's not relevant to what's been said previously then I'm bound to ask you what you mean. I understood perfectly what you were saying - I just didn't understand its relevance to the discussion in hand. You are absolutely right - for everyone losing money there is nearly always another person gaining it. There could well be thousands of Ping pong poms gleefully counting their dosh as they pack their belongings and head for Heathrow. But that doesn't mean nothing has changed since the Brexit vote. Which was the point being discussed when you posted. Edited October 11, 2016 by Fisher1 Quote Link to comment Share on other sites More sharing options...
Parley Posted October 11, 2016 Share Posted October 11, 2016 The pound is continuing to fall. Quote Link to comment Share on other sites More sharing options...
Petals Posted October 11, 2016 Share Posted October 11, 2016 Ever heard of tongue in cheek ha ha Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 11, 2016 Share Posted October 11, 2016 Was Norman Tebbit your uncle or something. No! but he did obviously put a few people off riding bikes and some flatly refusing to learn to ride! just incase hey? Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 11, 2016 Share Posted October 11, 2016 Look. If you have taken the trouble to go back to my posts and quote the two most recent, you will be aware that they were part of an ongoing conversation triggered by someone writing that brexit hasn't changed anything much yet, and probably wasn't going to change anything much. Given that the OP lives twelve thousand miles away from the UK, I was trying (perhaps clumsily) to point out that things have already changed for some people. i used the phrase that "the sky had already fallen in" because these were the original OPs words and I thought they would make more impact. Perhaps not a good style choice but hey, we all make mistakes. A further poster asked me if the Brexit vote had really made much difference to my life. Hence the first of the two posts you have requoted above. The point of both posts was to rebut the claim that very little has changed since Brexit. Because it has. The most noticeable change is that the pound is at a 31 year low. That is why I chose the pound as my example. Its usual to change the subject and move things along a bit, but if you post something that's not relevant to what's been said previously then I'm bound to ask you what you mean. I understood perfectly what you were saying - I just didn't understand its relevance to the discussion in hand. You are absolutely right - for everyone losing money there is nearly always another person gaining it. There could well be thousands of Ping pong poms gleefully counting their dosh as they pack their belongings and head for Heathrow. But that doesn't mean nothing has changed since the Brexit vote. Which was the point being discussed when you posted. And all I pointed out was that it could change the life of others whim are in the reverse of your situation. Not sure though how we can blame Brexit for the fluctuating pound? really it is just one of the many things that has an effect on it http://www.bbc.com/news/business-37620331 and from September http://www.telegraph.co.uk/business/2016/09/01/ftse-100-breaks-6800-and-pound-skids-ahead-of-uk-manufacturing-d/ Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted October 11, 2016 Share Posted October 11, 2016 And all I pointed out was that it could change the life of others whim are in the reverse of your situation. Not sure though how we can blame Brexit for the fluctuating pound? really it is just one of the many things that has an effect on it http://www.bbc.com/news/business-37620331 and from September http://www.telegraph.co.uk/business/2016/09/01/ftse-100-breaks-6800-and-pound-skids-ahead-of-uk-manufacturing-d/ You can certainly make a case for benefits that accrue from a devaluation in the currency but it is troubling when you start claiming that Brexit is not necessarily the catalyst or cause for it. On that basis if the economy tanked in the next few years then I can forsee those who backed Leave claiming that it probably would have happened anyway and was nothing to do with abandoning the single market. You can't have your cake and eat it. If you support leaving the single market you have to accept any consequences that accrue. Especially when said consequences have been spelled out. Quote Link to comment Share on other sites More sharing options...
ramot Posted October 11, 2016 Share Posted October 11, 2016 (edited) I'm not moving till next year, yes the exchange rate can go up and down and yes I realize that whatever money you have ha to weather the ups and downs of the exchange rate once you get there. However the outlook for the pound for the next couple of years is grim, and the initial cost of buying a property can be totally transformed by a bad fall in the exchange rate. I mentioned my my own situation as an example, and no, I am not letting every potential set back make me less keen on the move, but simply trying to offer a contradictory view to some of the posters on here who seem to think brexit hasn't made any difference, as in "well the sky hasn't fallen in." Brexit has made a difference and will possibly do so for quite some time to come. Its a difficult time for the UK at the moment. you appear to think I am unsympathetic, but as we are already living in Australia and we are entirely dependent on our income from UK in pounds, then the drop in the exchange rate hits us hard right now, and not at some stage in the future. So perhaps the outlook is grimmer for us, already living on reduced income until if or when the pound picks up. Edited October 11, 2016 by ramot Quote Link to comment Share on other sites More sharing options...
Parley Posted October 11, 2016 Share Posted October 11, 2016 you appear to think I am unsympathetic, but as we are already living in Australia and we are entirely dependent on our income from UK in pounds, then the drop in the exchange rate hits us hard right now, and not at some stage in the future.So perhaps the outlook is grimmer for us, already living on reduced income until if or when the pound picks up. Why haven't you brought your investments to Australia, then you would be immune from the effects ? I'm assuming you aren't talking about a state pension. Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 11, 2016 Share Posted October 11, 2016 You can certainly make a case for benefits that accrue from a devaluation in the currency but it is troubling when you start claiming that Brexit is not necessarily the catalyst or cause for it. On that basis if the economy tanked in the next few years then I can forsee those who backed Leave claiming that it probably would have happened anyway and was nothing to do with abandoning the single market. You can't have your cake and eat it. If you support leaving the single market you have to accept any consequences that accrue. Especially when said consequences have been spelled out. So are you say brexit is the cause of the US dollar getting stonger? Quote Link to comment Share on other sites More sharing options...
Parley Posted October 11, 2016 Share Posted October 11, 2016 The sharemarket is mostly forward looking so it is pricing in what people think will happen in the future. They may not be right of course and the bad things may not transpire at all or have much less impact than expected. Quote Link to comment Share on other sites More sharing options...
ramot Posted October 11, 2016 Share Posted October 11, 2016 (edited) Why haven't you brought your investments to Australia, then you would be immune from the effects ? I'm assuming you aren't talking about a state pension. We are on a long term temporary visa, and reliant on income from work/state pensions etc. no investments to move. Luckily not broke yet!!! We also pay UK tax because we have no Australian income Edited October 11, 2016 by ramot Quote Link to comment Share on other sites More sharing options...
newjez Posted October 11, 2016 Share Posted October 11, 2016 So are you say brexit is the cause of the US dollar getting stonger? No, that would be the US election, but they would be immune to any moves in the US dollar. Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted October 11, 2016 Share Posted October 11, 2016 No, that would be the US election, but they would be immune to any moves in the US dollar. So you would agree that it is not just brexit affecting the pound? the US dollar is a little stronger against the pound, as well as the pound being a little weaker against the $. It was not all that long ago that the US$ was so weak that we were getting $1.10 US to the AU $ but now around $0.75, what make a currency weak/strong is influenced by so many factors, some more so than others at certain points in time. It is wrong to claim the current weakness of the pound solely on brexit, unless of course you are among the "I told you so" scare mongering crowd. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted October 12, 2016 Share Posted October 12, 2016 Not in London - no - obviously. But quite possibly up north, where it's grim and getting grimmer. Why do you say obviously newjez? There are lots of people who have been sure of something and been wrong. I reckon London is in a pretty vulnerable position. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted October 12, 2016 Share Posted October 12, 2016 Perth has dropped by about 10% Darwin by more North West WA by a lot more I think lots have dropped previously. Some suburbs in Perth have dropped by that much and maybe more. Others carry on being in demand so don't fall at all. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted October 12, 2016 Share Posted October 12, 2016 So you would agree that it is not just brexit affecting the pound? the US dollar is a little stronger against the pound, as well as the pound being a little weaker against the $.It was not all that long ago that the US$ was so weak that we were getting $1.10 US to the AU $ but now around $0.75, what make a currency weak/strong is influenced by so many factors, some more so than others at certain points in time. It is wrong to claim the current weakness of the pound solely on brexit, unless of course you are among the "I told you so" scare mongering crowd. The £ is more than "a little weaker" against all major currencies. At least 20% down across the board. During the referendum campaign the £ fell each time expectations of a vote to leave improved. Since the referendum the £ has fallen on speculation that the UK will leave the single market. It is actually wrong to deny that the weakness of the £ is not directly attributable to Brexit though I can see where you are headed with this argument and I suspect it is one that will be increasingly adopted by UKIP as the economic outlook worsens should the UK leave the single market and go it alone. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted October 12, 2016 Share Posted October 12, 2016 Why do you say obviously newjez? There are lots of people who have been sure of something and been wrong. I reckon London is in a pretty vulnerable position. Well, property in London has actually fallen by at least 20%. Unfortunately that is only for overseas investors so far. But I do tend to agree that on this occasion London may suffer a significant degree of the impact in terms of lost investment and jobs. But it will be a boon for tourism as long as they can continue filling all the vacancies in the hospitality industry with immigrants....doh! Quote Link to comment Share on other sites More sharing options...
newjez Posted October 12, 2016 Share Posted October 12, 2016 So you would agree that it is not just brexit affecting the pound? the US dollar is a little stronger against the pound, as well as the pound being a little weaker against the $.It was not all that long ago that the US$ was so weak that we were getting $1.10 US to the AU $ but now around $0.75, what make a currency weak/strong is influenced by so many factors, some more so than others at certain points in time. It is wrong to claim the current weakness of the pound solely on brexit, unless of course you are among the "I told you so" scare mongering crowd. Yes, in a tsunami you still get normal tides. I mean for god's sake, what are you trying to say? You've backed a highly risky and irresponsible course of action. Show some responsibility. We all have to suffer to stop the immigration. That's what you wanted, that's what you've got. Can't believe you people. Quote Link to comment Share on other sites More sharing options...
Parley Posted October 12, 2016 Share Posted October 12, 2016 Will the average person in the UK care or be impacted by the pound dropping. As has been pointed out by others the pound has gone up and down forever and always will. It will continue to fall and rise again. Quote Link to comment Share on other sites More sharing options...
newjez Posted October 12, 2016 Share Posted October 12, 2016 Why do you say obviously newjez? There are lots of people who have been sure of something and been wrong. I reckon London is in a pretty vulnerable position. Same as Sydney. When the aud drops, Sydney looks cheaper to the Chinese. Same with London with the Chinese and Russians. London won't drop, the southeast won't drop, but the rest will. They would actually need to reduce immigration rather than just talk about it to affect London. But the north will get clobbered. Quote Link to comment Share on other sites More sharing options...
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