PhoebeW Posted July 13, 2011 Share Posted July 13, 2011 64,000 dollar question. Tough call. P.S. my 88 year aunt, who lives in Melbourne and is as bright as a pin, tells me to get everything over to Oz asap as the UK is still going down the pan. :confused: It deffinatly IS the $64,000 question we don't know if we should move what we have to date now or wait :twitcy: And I totally agree with your Aunt....good on her......as they say down under :cute: Phoebe Quote Link to comment Share on other sites More sharing options...
ariomart Posted July 13, 2011 Share Posted July 13, 2011 It deffinatly IS the $64,000 question we don't know if we should move what we have to date now or wait :twitcy: And I totally agree with your Aunt....good on her......as they say down under :cute: Phoebe OOOh this is so confusing. I have may visa money in an ISA now I am thinking should I move it or leave it where it is, It will be a year or two till I need it. So I wiill keep watching the posts Thanks for an informative site Moira:arghh: Quote Link to comment Share on other sites More sharing options...
liverpoolloo Posted July 15, 2011 Share Posted July 15, 2011 OOOh this is so confusing. I have may visa money in an ISA now I am thinking should I move it or leave it where it is, It will be a year or two till I need it. So I wiill keep watching the postsThanks for an informative site Moira:arghh: I have mine in Bonds and i did notice on my last visit to perth in March that interest rates were %6, it has crossed my mind wether to open a bank account and start moving money over but i have only just had my acknowledgement and don't want to tempt fate by jumping the gun and like you have a long way to go yet, i can't see things improving in this country for a long time yet. Can anyone please tell me how i join the tracker list as i have just had my acknowledgement. :jiggy:Ann Quote Link to comment Share on other sites More sharing options...
sandch Posted July 15, 2011 Share Posted July 15, 2011 I have mine in Bonds and i did notice on my last visit to perth in March that interest rates were %6, it has crossed my mind wether to open a bank account and start moving money over but i have only just had my acknowledgement and don't want to tempt fate by jumping the gun and like you have a long way to go yet, i can't see things improving in this country for a long time yet.Can anyone please tell me how i join the tracker list as i have just had my acknowledgement. :jiggy:Ann Hello Ann Go to http://www.chireckles.com/cpv/register.php and you'll be up and running in no time! Best wishes Steve Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted July 15, 2011 Share Posted July 15, 2011 I have mine in Bonds and i did notice on my last visit to perth in March that interest rates were %6, it has crossed my mind wether to open a bank account and start moving money over but i have only just had my acknowledgement and don't want to tempt fate by jumping the gun and like you have a long way to go yet, i can't see things improving in this country for a long time yet. :jiggy:Ann Very hard to guess where rates will go from here but this a real life example: When our son & d-i-l went out with P.R. in May 2008 we had decided we would want to join them if we could, at that time the rate was about $2 to £1. We put £30,000 into a 3 year bond in the UK and fixed it at 7% (those were the days). We needed about $68,000 for the 2nd Vac and at that time it was taking 2 years to prove settled plus 15 months for CPV. We had no idea how much exchange rates could or would move against each other, the only time we bought foreign currency was for holidays and were exchanged and used in a week or two. This June the bond came out and with interest was worth £35,000 but if we buy Aud $s we will get about $1.50 which is $52500 or more than $16,000 short of what we expected. :shocked: Fortunately along the way we decided to transfer money over to Oz over the course of our wait for the CPV visa so had had most of the money required for the 2nd Vac payment that we made in February this year (visas are also coming through quicker than old predictions) at an average rate of exchange of the last 2 years. The down side is most of our money is still in the UK and the rate is the lowest we have seen in over three years. :cry: Logically none of us are certain we will end up with a visa when we apply so no one would want to send all their savings out to Oz right away and it is only with hindsight that you will find out if the rate available now is good or bad. At the moment it would seem wise to send some money out to Oz (not necessary all at once) up to perhaps a maximum over time of 50% of what you expect you require as and when you can afford to and any time you see a blip up in the exchange rate. We just need to keep our figures crossed that Mervyn King does not continue to make the £ the cheapest currency on the planet. Quote Link to comment Share on other sites More sharing options...
Julian927 Posted July 15, 2011 Share Posted July 15, 2011 Don't get despondent. A lot of local papers in Australia are reporting on a downturn in profits....David Jones for one. Markets over here are beginning to look as though perhaps they have not escaped. Milk markets are feeling the pressure of the high dollar so it is affecting Australian exports badly and Australian tourism....this may help us all. So maybe we can all hope for a little blip in the future. Julie Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted July 15, 2011 Share Posted July 15, 2011 Don't get despondent. A lot of local papers in Australia are reporting on a downturn in profits....David Jones for one. Markets over here are beginning to look as though perhaps they have not escaped. Milk markets are feeling the pressure of the high dollar so it is affecting Australian exports badly and Australian tourism....this may help us all.So maybe we can all hope for a little blip in the future. Julie Good point, when China comes to renew contracts on commodities and finds the rest of the world is cheaper than Oz the high Aud $ may not seem like a such a good idea. Quote Link to comment Share on other sites More sharing options...
chudleighval Posted July 15, 2011 Share Posted July 15, 2011 Don't get despondent. A lot of local papers in Australia are reporting on a downturn in profits....David Jones for one. Markets over here are beginning to look as though perhaps they have not escaped. Milk markets are feeling the pressure of the high dollar so it is affecting Australian exports badly and Australian tourism....this may help us all.So maybe we can all hope for a little blip in the future. Julie I so hope your right...but still so difficult to know what to do right now...we are close to getting our visa...sold our house just waiting to exchange contracts....but then what to do with the money....do we invest and rent in oz...do we buy....if only we had a crystal ball...but at least if the exchange rate gets more in our favour...our forces pension will go alot further... Quote Link to comment Share on other sites More sharing options...
PhoebeW Posted July 15, 2011 Share Posted July 15, 2011 I so hope your right...but still so difficult to know what to do right now...we are close to getting our visa...sold our house just waiting to exchange contracts....but then what to do with the money....do we invest and rent in oz...do we buy....if only we had a crystal ball...but at least if the exchange rate gets more in our favour...our forces pension will go alot further... My daughter has just been telling me the housing market is 'on it's a*se ATM' her words :biggrin: a house in her street on the Gold Coast (about 20 minutes from Surfers Paradise) was up for sale last year $550,000, it's just been relisted for $450,000.....so that's good news for us.........isn't it :unsure: Phoebe Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted July 15, 2011 Share Posted July 15, 2011 My daughter has just been telling me the housing market is 'on it's a*se ATM' her words :biggrin: a house in her street on the Gold Coast (about 20 minutes from Surfers Paradise) was up for sale last year $550,000, it's just been relisted for $450,000.....so that's good news for us.........isn't it :unsure: Phoebe Isn't the same thing happening to UK house prices? .....and the £ was 10% higher than now last year. :frown: Quote Link to comment Share on other sites More sharing options...
chudleighval Posted July 15, 2011 Share Posted July 15, 2011 My daughter has just been telling me the housing market is 'on it's a*se ATM' her words :biggrin: a house in her street on the Gold Coast (about 20 minutes from Surfers Paradise) was up for sale last year $550,000, it's just been relisted for $450,000.....so that's good news for us.........isn't it :unsure: Phoebe We had seven months in melbourne area and lots of properties are being reduced...i think they have over priced lots...and now not selling...so im hoping we can make a killin with our cash...well you have to dream.... Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted July 15, 2011 Share Posted July 15, 2011 My daughter has just been telling me the housing market is 'on it's a*se ATM' her words :biggrin: a house in her street on the Gold Coast (about 20 minutes from Surfers Paradise) was up for sale last year $550,000, it's just been relisted for $450,000.....so that's good news for us.........isn't it :unsure: Phoebe Another way to look at it, 2 years ago it would of taken 275,000 of our lovely English pounds and now it would cost £300,000, not such good news now. :swoon: Thank God it's Friday, I can't take much more good news. :twitcy: Quote Link to comment Share on other sites More sharing options...
MikenSueNW3 Posted July 15, 2011 Share Posted July 15, 2011 Another way to look at it, 2 years ago it would of taken 275,000 of our lovely English pounds and now it would cost £300,000, not such good news now. :swoon: Thank God it's Friday, I can't take much more good news. :twitcy: Look on the bright side, the A$ is down almost a cent against the £ today! Monday; when's Monday? Mike Quote Link to comment Share on other sites More sharing options...
PhoebeW Posted July 15, 2011 Share Posted July 15, 2011 Isn't the same thing happening to UK house prices? .....and the £ was 10% higher than now last year. :frown: Mmm....but for those who perhaps have the money to buy outright.....is it not good news...:confused: Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted July 15, 2011 Share Posted July 15, 2011 Mmm....but for those who perhaps have the money to buy outright.....is it not good news...:confused: If that money is already in Aud $s yes it is good news. If you have £s to exchange then what is given with the left hand is taken away with the right. :wubclub: Quote Link to comment Share on other sites More sharing options...
chudleighval Posted July 15, 2011 Share Posted July 15, 2011 Oh...come on guys..got to try...to look on the positive...yesterday the rate went to $1.51.6. Surely thats a good sign...and at the end of the day there is nothing at all we can do...to change things...we have money in moneycorp ...waitng for it to hit $1.53 ...and we have everything crossed for next week ... Quote Link to comment Share on other sites More sharing options...
PhoebeW Posted July 15, 2011 Share Posted July 15, 2011 Oh...come on guys..got to try...to look on the positive...yesterday the rate went to $1.51.6. Surely thats a good sign...and at the end of the day there is nothing at all we can do...to change things...we have money in moneycorp ...waitng for it to hit $1.53 ...and we have everything crossed for next week ... That's what I was trying to do :twitcy: Phoebe Quote Link to comment Share on other sites More sharing options...
sandch Posted July 16, 2011 Share Posted July 16, 2011 Good point, when China comes to renew contracts on commodities and finds the rest of the world is cheaper than Oz the high Aud $ may not seem like a such a good idea. Some commodities are priced in US Dollars though aren't they? Huge China's growth has slowed to 9.5% by the way and if that's what they think is slow growth, little Australia will be a supplier for some time to come. In the end it's really about UK interest rates, and there's little prospect of those changing soon. Quote Link to comment Share on other sites More sharing options...
sandch Posted July 16, 2011 Share Posted July 16, 2011 My daughter has just been telling me the housing market is 'on it's a*se ATM' her words :biggrin: a house in her street on the Gold Coast (about 20 minutes from Surfers Paradise) was up for sale last year $550,000, it's just been relisted for $450,000.....so that's good news for us.........isn't it :unsure: Phoebe She's right there is a long-overdue correction underway. Something we've seen in the UK several times over the decades. It's a weird economy here; huge sums of money being generated by mining, but declines in building, house prices, retail, and many industries being very affected by the strong dollar. Quote Link to comment Share on other sites More sharing options...
sandch Posted July 16, 2011 Share Posted July 16, 2011 Carrying on the exchange rate theme, there are reports today that Australia will need to cut interest rates as a result of the two-speed economy. This is a big change in sentiment from very recently. If it turns out to be true, and rates actually start to rise in the UK next year, we could see a rapid change in the exchange rate. Right, now I'm putting the crystal ball back in the cupboard because it is tired... http://www.smh.com.au/business/westpac-rates-to-fall-1-20110715-1hi9s.html?from=smh_sb Quote Link to comment Share on other sites More sharing options...
Les Avalook Posted July 16, 2011 Share Posted July 16, 2011 In the end it's really about UK interest rates, and there's little prospect of those changing soon. Well they haven't changed for 27 months and still the pound has fallen by about 25%+ over that time, so if they stay at 0.5% for the rest of the year or more what stops the drift downwards? Me thinks it's more than UK interest rates and likely that the rest of the world think the UK is :Randy-git: We are doomed, we are all doomed I tell yer. :shocked: :twitcy: P.S. Has it stopped raining yet , I want to go out to play? :jiggy: Quote Link to comment Share on other sites More sharing options...
PhoebeW Posted July 16, 2011 Share Posted July 16, 2011 Well they haven't changed for 27 months and still the pound has fallen by about 25%+ over that time, so if they stay at 0.5% for the rest of the year or more what stops the drift downwards? Me thinks it's more than UK interest rates and likely that the rest of the world think the UK is :Randy-git: We are doomed, we are all doomed I tell yer. :shocked: :twitcy: P.S. Has it stopped raining yet , I want to go out to play? :jiggy: Well if the UK is :Randy-git: then so are we all..........best just get on with it then eh :biggrin:.......get yer wellies & brolly out and stop moaning :cute: Phoebe Quote Link to comment Share on other sites More sharing options...
Julian927 Posted July 16, 2011 Share Posted July 16, 2011 Well Westpac are going to knock 1% off their interest rates this year....so do you all still think "doom and gloom" or can you see a glimmer of hope? Julie Quote Link to comment Share on other sites More sharing options...
MikeMavis Posted July 16, 2011 Share Posted July 16, 2011 Well Westpac are going to knock 1% off their interest rates this year....so do you all still think "doom and gloom" or can you see a glimmer of hope?Julie We all know what things have been,we all think we know what things could be,we think we know what causes the problems and we think we know what will make things better. However one thing is certain we all have to cope with what is,we therefore may as well get on with it as cheerfully as is possible. Cheers. Mike. Quote Link to comment Share on other sites More sharing options...
chudleighval Posted July 16, 2011 Share Posted July 16, 2011 Here here ..... Quote Link to comment Share on other sites More sharing options...
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