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Guest LukeSkywalker

2.09 to 1.86 since July 10th

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Guest LukeSkywalker

An 11% drop in the value of GBP v AUD in this period.

In 12 months its gone from 2.59 to 1.89 = 28% drop

 

So in other words if you had £100k of equity to take in Sept 08 you can now only take £72k and even if you had this much in July 09 you can now only take £89k.

 

This makes things like buying a car etc. that much more expensive.

 

I was with a mate in the Police force last week and he said he has had several coppers decide against moving to Australia now the exchange rate has gone so badly against them.

 

I'm now seriously questioning the ability/viability of moving to Oz for financial reasons. As I have PR etc and my kids have Aussie passports I can go whenever I want. I have been offered a great job etc. but the currency situation is just stunning. The pound has depreciated against the AUD worse than any other currency from what I can see. Of course I know it will rebound at some point but that doesn't help people moving now or planning to move now.

 

Anyone having second thoughts? I don't mind admitting that I am as I say. Maybe Aldo is right, Spain is the place to be :-)

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For once it is a great time for people moving in the opposite direction but that is absolutely no comfort to those struggling to get here. I feel like a holiday coming on! We have had it tough in the opposite direction for so long.

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Guest LukeSkywalker
For once it is a great time for people moving in the opposite direction but that is absolutely no comfort to those struggling to get here. I feel like a holiday coming on! We have had it tough in the opposite direction for so long.

 

Thanks for that - makes me feel a lot better. :eek:

 

Since this morning the pounds has risen 0.76c - so with luck maybe its hit a medium term-long term low (I hope it has). Funny how financial markets always go to the place nobody expects isn'***?

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Guest jilkfree1978

hi i am from the uk and live in japan now! we are moving to oz and the exchange rate from japanese yen to australian dollar is very good now 80 yen is $1 australian dollar! you exchange 80 yen into english pound its about 53pence to a dollar! japanese yen at the moment is 1 off the strongest currencies in the world at the moment! so it is a good time for us to move!

 

the uk is 1 of the lowest currencies in the world not worth much at all!!

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Guest chris_mac

We exchanged when the oz dollar hit 2.59 in Oct last year and didnt gamble on it going higher... and we didnt move out til Aug this year so how lucky where we... I do cringe to think what we would have lost if we held out for a higher rate..

 

Best wishes

 

Chris

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we have just had offer accepted on house & were banking on getting high 1.9s (or maybe even 2.0)when we applied for mortgage, now we'll be struggling to meet the costs! We have until end of October to move so am PRAYING it will recover from 1.85!! If we all combine the power of our thoughts together maybe it will work - lol!??

 

Kath


VISA 175 granted 29.10.08. Moved July 2009. Loving QLD sunshine!

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Nah it will go up - it's just waiting for me to book my holiday! That's the way it usually works!

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Nah it will go up - it's just waiting for me to book my holiday! That's the way it usually works!

 

well hurry up & book it then!! (lol) I need it to go up before end of Oct (or I could potentially lose out on $7000!)

 

Kath


VISA 175 granted 29.10.08. Moved July 2009. Loving QLD sunshine!

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Hi Luke. As you are one of the lucky ones who has a job to come to, could you not leave your UK money where it is until the exchange rate starts to move in your favour - rent for a while and live off your new Aussie income. When you earn in Aus $ and spend in Aus $, things haven't changed much at all - things only seem expensive to you at the moment because you are converting things back, in your mind. The people who are really going to feel it at the moment are those who have no job yet and need their UK money to survive.

Cheers, Kazza

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Hi Luke. As you are one of the lucky ones who has a job to come to, could you not leave your UK money where it is until the exchange rate starts to move in your favour - rent for a while and live off your new Aussie income. When you earn in Aus $ and spend in Aus $, things haven't changed much at all - things only seem expensive to you at the moment because you are converting things back, in your mind. The people who are really going to feel it at the moment are those who have no job yet and need their UK money to survive.

Cheers, Kazza

best answer i have read in all the posts on this subject. If you dont need it to move then no panic.

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not sure but don't think the dollar is good either,my friends In torra keep complaining about the exchange rate there

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Guest benedict1
Hi Luke. As you are one of the lucky ones who has a job to come to, could you not leave your UK money where it is until the exchange rate starts to move in your favour - rent for a while and live off your new Aussie income. When you earn in Aus $ and spend in Aus $, things haven't changed much at all - things only seem expensive to you at the moment because you are converting things back, in your mind. The people who are really going to feel it at the moment are those who have no job yet and need their UK money to survive.

Cheers, Kazza

 

 

Yes, that's a good idea.

I am one of the lucky ones who has a full time job to go to. However, we will still need to exchange some of our savings to buy a few things. Not sure what to do about buying a car - any ideas? I don't want to change too much if I can help it untill the exchange rate is favourable.

 

Good luck to all moving now. I hope things work out for you all.

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Must admit the exchange rate is really getting me down at the moment, along with the excruciatingly slow pace at which our house sale is progressing.

 

I didn't think it could get any lower than 1.95 and now it is 1.85. We are resigned to leaving our money here, but that means we will be stuck in a rental for much longer than we ever planned. I said to my husband today that the dream is turning into a nightmare.:arghh:

 

Must stay positive................:skeptical:

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hold the dream as hard as it seems,if when the house is sold you invested the sale money,it just might pay the rental cost of a house,then it would give you time to see if you have chosen the correct area for you to eventually buy,saving you thousands of dollars if you wanted to sell up and buy elsewhere

best of luck whichever way you go

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not sure but don't think the dollar is good either,my friends In torra keep complaining about the exchange rate there

should have said the Euro no the dollar,think i have been away from spain to long lol

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on msn with my special friend last night who has lived in Spain for many years,said they are almost giving properties away,now really is the time to buy there if you really think you might go there as long as you can find a job

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So if the exchange rate is so poor then Landlords will not hear an English accent and load the prices of short/medium term lets

because the exchange rate makes us so much poorer than we 'should' be???

 

Don't you know'The new influx of expats are swimming with money'(I don't think so)

 

We just need a fare rate for a decent standard of accomodation.(Believe me ,I have made a few enquiries and been quoted the earth for some where that I would not put my daughters hamster)

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Guest LukeSkywalker

Hm. All starting to go a bit pear shaped on the exchange rates - and the Govenor of the Bank of England is just doing all he can to talk it down. The problem is he wants Britain to be able to "export". But WTF do we make to export? From what I can see absolutely nothing.

 

Anyone have any thoughts on how feasible it is to have a familly live in a 3 bedroom flat in Central Melbourne for 2 years until the GBP recovers a little?

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Guest LukeSkywalker
hold the dream as hard as it seems,if when the house is sold you invested the sale money,it just might pay the rental cost of a house,then it would give you time to see if you have chosen the correct area for you to eventually buy,saving you thousands of dollars if you wanted to sell up and buy elsewhere

best of luck whichever way you go

 

With UK interest rates at under 2% and the pound so low .....

 

I reckon you need £750k in the bank to generate £2.3k pcm.

 

Its a nice idea but ..... for me it doesn't work. Maybe this is a dream that I have to put in hold for 2 years. God I hate Labour with a passion. I'd love to see Gordon Brown on a pedestrian crossing and be in a large truck.

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Guest TRACEY & PETER

if you leave money in england for over a year, do you have to pay taxes and does any one know how much, we are just putting house on market and are thinking of leaving the money here untill it gets better (fingers crossed).

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Guest Julie495
well hurry up & book it then!! (lol) I need it to go up before end of Oct (or I could potentially lose out on $7000!)

 

Kath

I'm combing the power as we speak lol

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