Aussiebird Posted June 3, 2020 Share Posted June 3, 2020 (edited) Hi everyone, hope you are all well. Just wanted to highlight how frustrating things are becoming with the dollar falling rapidly, the Australian economy, recession, houses not selling etc etc..... I think tbh it really is not a good time to sell in the UK as now the dollar is falling like a brick out the sky and who knows what it will be for the rest of the year? The chances of buying in Oz with a good exchange rate is slipping through our fingers on a daily basis. My husbands visa needs to be activated and even that could be a problem (his employer doesn't know our plans) if he has to quarantine on arrival, on top of the length of time he will be staying for a bit. He has till Feb next year but might be worth leaving it till after Christmas to do it and see how things are? We keep going backwards and forwards with making decisions and feel like we are constantly hitting a brick wall, taking 2 steps forward and 10 back!! Anyone else feel like this lately? Really dont know what to do for the best!! We are desperate to go!! We dont want to rent in Oz and are lucky enough to be able to stay with family, so not sure to continue with sale of our home in UK and when the dollar is strong again, send the money over to buy in Oz, but it may not be good again for years???? Oh my head hurts through worry at the moment!! Edited June 3, 2020 by Aussiebird Quote Link to comment Share on other sites More sharing options...
31Hillbury Posted June 3, 2020 Share Posted June 3, 2020 Hi, I've been watching the GBP to AUD quite closely for a while and it seems the dollar is getting stronger/ pound weaker. Start of April 1 gbp was worth 2.04 aud compared to the current 1gbp to 1.81 aud. 23 cent less per pound changed. I hope it gets back closer to the 2.04 and not any lower than it currently is. I dont plan on altering our plans to move as soon as covid situation allows (awaiting 190 grant offshore) We had the photographs taken today and house should be on the market tomorrow, Estate agent says shes never been busier since theyve been allowed to open and have sold over 10 houses in our local area since returning to work. Im sure the pound will regain its strength once things begin to return to the new normal in the UK. All the best. Eddie Quote Link to comment Share on other sites More sharing options...
JRC Posted June 3, 2020 Share Posted June 3, 2020 I feel your pain! We had our 489 visa granted in January and planned on flying out two days after finishing school (I’m a teacher) in July but this is now put on hold. We sold our house in September 2019 and didn’t end up signing and actually moving until February this year - so if I were you I’d get it on the market now if you’re serious about selling up before you leave. In relation to the exchange rate, we bought some AUD through Global in March and they said that the GBP is not strong at the minute because of Brexit but the AUD isn’t either because of their tensions with China. We managed to lock in a $1.97 rate. We are super stressed about the lack of timeframe and the fact that we feel like we’ve effectively wasted a quarter of our visa before even getting there but you’ve just got to stay positive and if it’s what you really want then stick with it. Just don’t let know it alls who are guessing about timeframes get to you. No one knew this pandemic was going to happen and no one knows for certain yet what will happen. 1 Quote Link to comment Share on other sites More sharing options...
NickyNook Posted June 3, 2020 Share Posted June 3, 2020 2 hours ago, Aussiebird said: Just wanted to highlight how frustrating things are becoming with the dollar falling rapidly, the Australian economy, recession, houses not selling etc etc..... I think tbh it really is not a good time to sell in the UK as now the dollar is falling like a brick out the sky and who knows what it will be for the rest of the year? The chances of buying in Oz with a good exchange rate is slipping through our fingers on a daily basis. ..... You seem to be confused about the status of the Australian dollar. In multiple posts you keep referring to the dollar falling - but it's sterling that is falling. You've got it the wrong way round. When you get fewer dollars to the pound than before, it means the value of the dollar is increasing - not falling. 4 Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted June 3, 2020 Share Posted June 3, 2020 2 hours ago, Aussiebird said: Hi everyone, hope you are all well. Just wanted to highlight how frustrating things are becoming with the dollar falling rapidly, the Australian economy, recession, houses not selling etc etc..... I think tbh it really is not a good time to sell in the UK as now the dollar is falling like a brick out the sky and who knows what it will be for the rest of the year? The chances of buying in Oz with a good exchange rate is slipping through our fingers on a daily basis. My husbands visa needs to be activated and even that could be a problem (his employer doesn't know our plans) if he has to quarantine on arrival, on top of the length of time he will be staying for a bit. He has till Feb next year but might be worth leaving it till after Christmas to do it and see how things are? We keep going backwards and forwards with making decisions and feel like we are constantly hitting a brick wall, taking 2 steps forward and 10 back!! Anyone else feel like this lately? Really dont know what to do for the best!! We are desperate to go!! We dont want to rent in Oz and are lucky enough to be able to stay with family, so not sure to continue with sale of our home in UK and when the dollar is strong again, send the money over to buy in Oz, but it may not be good again for years???? Oh my head hurts through worry at the moment!! If you’re desperate to move to Oz then I’d put your house on the market. We can’t predict the future so the only question to ask yourself is where do I want to live. If it’s in Oz then get the house on the market. House prices in the U.K. are likely to continue to fall in value for a while, could be for a long time but either way, you want to move and the house needs selling. Houses in Oz will also be falling in value so it should balance out. You want to move and buy in Oz. If that can only happen if you sell why wait or even wonder. 2 Quote Link to comment Share on other sites More sharing options...
Peach Posted June 3, 2020 Share Posted June 3, 2020 When we moved over in 2011 the rate was 1.55 GBP -> AUD. How I cried then. When I first came on holiday to Australia in 2002, I got 2.8 GBP -> AUD. I felt wealthy! 1 1 Quote Link to comment Share on other sites More sharing options...
NickyNook Posted June 3, 2020 Share Posted June 3, 2020 15 minutes ago, Peach said: When we moved over in 2011 the rate was 1.55 GBP -> AUD. How I cried then. When I first came on holiday to Australia in 2002, I got 2.8 GBP -> AUD. I felt wealthy! Never in the history of the Australian dollar has 1 dollar bought more than 1 pound. You probably mean that in 2011 the rate was 1.55 AUD -> GBP and in 2002 it was 2.8 AUD-> GBP. 4 Quote Link to comment Share on other sites More sharing options...
ali Posted June 3, 2020 Share Posted June 3, 2020 I''m sure it's a frustrating time for you - but why not plan to a timescale for February if that's when your OH has to activate his visa - that's another 8 months away. Hopefully by then international flights will have resumed and quarantine ended. Your husband could come out on his own and validate his visa. I know that you're plan would be to all come together, but if the house hasn't sold it would be a plan B and he validate and return. I agree with others, get the house on the market, if you wait for house prices to rise, then equally as Tulip mentioned they'll have risen in Aus as well. 1 Quote Link to comment Share on other sites More sharing options...
ramot Posted June 3, 2020 Share Posted June 3, 2020 3 hours ago, NickyNook said: You seem to be confused about the status of the Australian dollar. In multiple posts you keep referring to the dollar falling - but it's sterling that is falling. You've got it the wrong way round. When you get fewer dollars to the pound than before, it means the value of the dollar is increasing - not falling. I have also posted on another thread in agreement with N Nooks post. The reality is if the pound falls you get fewer dollars in exchange. I know this as a fact as our monthly income is all from the UK. Quote Link to comment Share on other sites More sharing options...
Peach Posted June 3, 2020 Share Posted June 3, 2020 2 hours ago, NickyNook said: Never in the history of the Australian dollar has 1 dollar bought more than 1 pound. You probably mean that in 2011 the rate was 1.55 AUD -> GBP and in 2002 it was 2.8 AUD-> GBP. oops yes, I meant the opposite of what I said. Posted before I had my coffee. Apologies. 2 Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 4, 2020 Share Posted June 4, 2020 (edited) 6 hours ago, Aussiebird said: Just wanted to highlight how frustrating things are becoming with the dollar falling rapidly, the Australian economy, recession, houses not selling etc etc..... The dollar isn't falling, it's rising - so you're going to get fewer dollars for your pound. I think that's what you mean. The whole world is going through an economic disaster - the UK and US are heading for a deeper recession than Australia - so who knows what is going to happen to currencies in the future. In situations like this, the only safe thing to do is to stay where you are and hang on to the jobs and the home you've got. If you decide to move, you're taking a risk, and there's no way to sugarcoat that. It comes down to whether your goal is worth taking a risk for, and you're the only person who can answer that question. Exchange rate fluctuations can affect migrants at any time. When I migrated 35 years ago, there were no pandemics or other emergencies, but exchange rates were still volatile. I was lucky - the dollar was worth about 40p when I transferred my money, so I got over 2 dollars for every pound. Only a few months later, the dollar shot up to over 70p. Thank goodness we had settled happily in Australia, because if we'd wanted to go home, we would have ended up back in the UK with about half the pounds we started out with, all because of the exchange rate. Edited June 4, 2020 by Marisawright 4 Quote Link to comment Share on other sites More sharing options...
Toots Posted June 4, 2020 Share Posted June 4, 2020 11 minutes ago, Marisawright said: The dollar isn't falling, it's rising - so you're going to get fewer dollars for your pound. I think that's what you mean. The whole world is going through an economic disaster - the UK and US are heading for a deeper recession than Australia - so who knows what is going to happen to currencies in the future. In situations like this, the only safe thing to do is to stay where you are and hang on to the jobs and the home you've got. If you decide to move, you're taking a risk, and there's no way to sugarcoat that. It comes down to whether your goal is worth taking a risk for, and you're the only person who can answer that question. Exchange rate fluctuations can affect migrants at any time. When I migrated 35 years ago, there were no pandemics or other emergencies, but exchange rates were still volatile. I was lucky - the dollar was worth about 40p when I transferred my money, so I got over 2 dollars for every pound. Only a few months later, the dollar shot up to over 70p. Thank goodness we had settled happily in Australia, because if we'd wanted to go home, we would have ended up back in the UK with about half the pounds we started out with, all because of the exchange rate. Over the years we have been here (nearly 40) we have seen the pound/dollar rising and falling all the time. You cannot guarantee for sure how much you will gain or lose when you make the move either to Australia or back to the UK. 5 Quote Link to comment Share on other sites More sharing options...
unzippy Posted June 4, 2020 Share Posted June 4, 2020 8 hours ago, 31Hillbury said: , Estate agent says shes never been busier since theyve been allowed to open and have sold over 10 houses in our local area since returning to work. In my experience, Estate agents are paid to lie. See also recruitment agents and secret agents. But fingers crossed for you 3 Quote Link to comment Share on other sites More sharing options...
Bulya Posted June 4, 2020 Share Posted June 4, 2020 14 minutes ago, unzippy said: In my experience, Estate agents are paid to lie. See also recruitment agents and secret agents. But fingers crossed for you Used to look after ‘spook’ clients. Not sure about any lying, but they gave me lots of money... 1 Quote Link to comment Share on other sites More sharing options...
AliQ Posted June 4, 2020 Share Posted June 4, 2020 13 hours ago, Aussiebird said: Hi everyone, hope you are all well. Just wanted to highlight how frustrating things are becoming with the dollar falling rapidly, the Australian economy, recession, houses not selling etc etc..... I think tbh it really is not a good time to sell in the UK as now the dollar is falling like a brick out the sky and who knows what it will be for the rest of the year? The chances of buying in Oz with a good exchange rate is slipping through our fingers on a daily basis. My husbands visa needs to be activated and even that could be a problem (his employer doesn't know our plans) if he has to quarantine on arrival, on top of the length of time he will be staying for a bit. He has till Feb next year but might be worth leaving it till after Christmas to do it and see how things are? We keep going backwards and forwards with making decisions and feel like we are constantly hitting a brick wall, taking 2 steps forward and 10 back!! Anyone else feel like this lately? Really dont know what to do for the best!! We are desperate to go!! We dont want to rent in Oz and are lucky enough to be able to stay with family, so not sure to continue with sale of our home in UK and when the dollar is strong again, send the money over to buy in Oz, but it may not be good again for years???? Oh my head hurts through worry at the moment!! Hi, if you really want to go, then go. I totally understand your fears & frustrations, and moving costs money whatever is going on in the world, but at the end of the day, if you want to live in lovely Australia, get up and go. We've spent (lost) many £££ with our moves , but at the end of the day, you need to be happy where you live and happy with your decision. Good luck 6 Quote Link to comment Share on other sites More sharing options...
Quoll Posted June 4, 2020 Share Posted June 4, 2020 If you want to go, go. Waiting in limbo for the “right time” may never happen. So, you lose money? That’s what happens when you move to the other side of the world. You’ll Be haemorrhaging money like there is no tomorrow but if you want to move just do it. 7 Quote Link to comment Share on other sites More sharing options...
Lavers Posted June 4, 2020 Share Posted June 4, 2020 20 minutes ago, Quoll said: If you want to go, go. Waiting in limbo for the “right time” may never happen. So, you lose money? That’s what happens when you move to the other side of the world. You’ll Be haemorrhaging money like there is no tomorrow but if you want to move just do it. I agree with Quoll, we dont know if there will be a 2nd wave or not which would change everything again. 2nd wave with Aus shutting borders to everyone, all flights being grounded and the UK housing market crashing altogether. If you really want to do it just do it. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 5, 2020 Share Posted June 5, 2020 On 04/06/2020 at 01:51, Aussiebird said: Hi everyone, hope you are all well. Just wanted to highlight how frustrating things are becoming with the dollar falling rapidly, the Australian economy, recession, houses not selling etc etc..... I think tbh it really is not a good time to sell in the UK as now the dollar is falling like a brick out the sky and who knows what it will be for the rest of the year? The chances of buying in Oz with a good exchange rate is slipping through our fingers on a daily basis. My husbands visa needs to be activated and even that could be a problem (his employer doesn't know our plans) if he has to quarantine on arrival, on top of the length of time he will be staying for a bit. He has till Feb next year but might be worth leaving it till after Christmas to do it and see how things are? We keep going backwards and forwards with making decisions and feel like we are constantly hitting a brick wall, taking 2 steps forward and 10 back!! Anyone else feel like this lately? Really dont know what to do for the best!! We are desperate to go!! We dont want to rent in Oz and are lucky enough to be able to stay with family, so not sure to continue with sale of our home in UK and when the dollar is strong again, send the money over to buy in Oz, but it may not be good again for years???? Oh my head hurts through worry at the moment!! You just have to do it. Try not to think about exchange rates, it's not healthy and they could go either way, no one can tell. We seem to have gotten over the pandemic really well, our economy is kicking off again and maybe people who control exchange rates have a bit of confidence in the Aus economy? You know it's going to cost a lot when you go for emigration, just get here, get your visas ectivated, stay with your family and relax here for a bit. On the up side rents and even buying a property is going to get cheaper here I reckon, so you might be coming at a good time. 3 Quote Link to comment Share on other sites More sharing options...
rammygirl Posted June 5, 2020 Share Posted June 5, 2020 We have exchanged at rates varying from 1.4 to 2.5. We have transferred as and when needed over the years, sometimes holding off or sending more as rates dictated. We did not need to send everything at once so we didn’t. Everyone’s circumstances are different, if you need to send the money you have to take the rate at the time. It is still higher now than it was, just lower than the recent peak. Quote Link to comment Share on other sites More sharing options...
ramot Posted June 6, 2020 Share Posted June 6, 2020 (edited) I replied on the o p’s other thread, and above that for the 17 years we have lived in Australia our income is from the UK, so very aware of the fluctuations of the exchange rate.as we transfer every month My husband has kept a pretty accurate a record of the exchange rate for the last 17 years, and reckons it averages out at about $1.80 Edited June 6, 2020 by ramot Quote Link to comment Share on other sites More sharing options...
rammygirl Posted June 6, 2020 Share Posted June 6, 2020 (edited) Ramot, I agree 1.8 is a good average. We always say that anything over 1.8 is a good rate. The 2.5 was in 2008 I think when we transferred money for our house build. Edited June 6, 2020 by rammygirl Quote Link to comment Share on other sites More sharing options...
31Hillbury Posted June 6, 2020 Share Posted June 6, 2020 On 04/06/2020 at 03:44, unzippy said: In my experience, Estate agents are paid to lie. See also recruitment agents and secret agents. But fingers crossed for you House went live at 7pm Thursday evening, sold by 5pm Friday evening! For above asking price! Can’t complain about that! 3 3 Quote Link to comment Share on other sites More sharing options...
Aussiebird Posted June 6, 2020 Author Share Posted June 6, 2020 9 minutes ago, 31Hillbury said: House went live at 7pm Thursday evening, sold by 5pm Friday evening! For above asking price! Can’t complain about that! Wow congratulations! Ours is going live on Monday, will see how things go with that! Did you expect to sell so fast? Apparently buyers are to be in a position to proceed, rather than just randomly viewing properties, putting in offers and seeing if they can get a mortgage, so hopefully there is someone out there who wants to buy ours! Best of luck with your move, when are you hoping to move to Oz? Do you have flights booked? Xx Quote Link to comment Share on other sites More sharing options...
31Hillbury Posted June 6, 2020 Share Posted June 6, 2020 11 minutes ago, Aussiebird said: Wow congratulations! Ours is going live on Monday, will see how things go with that! Did you expect to sell so fast? Apparently buyers are to be in a position to proceed, rather than just randomly viewing properties, putting in offers and seeing if they can get a mortgage, so hopefully there is someone out there who wants to buy ours! Best of luck with your move, when are you hoping to move to Oz? Do you have flights booked? Xx Hi, We knew properties sold quick on our estate, but not that quick. The lady who offered was very proceed-able with a large deposit (over 50%) No flights booked, awaiting our 190 grant. Hopefully offshore grants pick up the pace soon. We wanted to sell sooner rather than later incase anything drastic happened to house prices. How about yourself? Best of Luck. 1 Quote Link to comment Share on other sites More sharing options...
Aussiebird Posted June 6, 2020 Author Share Posted June 6, 2020 14 minutes ago, 31Hillbury said: Hi, We knew properties sold quick on our estate, but not that quick. The lady who offered was very proceed-able with a large deposit (over 50%) No flights booked, awaiting our 190 grant. Hopefully offshore grants pick up the pace soon. We wanted to sell sooner rather than later incase anything drastic happened to house prices. How about yourself? Best of Luck. Yes we thought the same, just in case house prices start to drop, Brexit looming etc.. . Just hope we can sell very soon, like you! Thank you. 1 Quote Link to comment Share on other sites More sharing options...
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