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Uk First Time Buyers Flock To Australia Says Moneycorp

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Moneycorp says that the most popular place for first time UK buyers to consider buying is now Australia. I don't think they have done their homework if that is true! Our £ has devalued by about 30% against the Aussie $ in the last 2.5 years. Australia is now, as a country, THE most expensive place to buy a home in the world, when compared to income mutiples. Sydney has overtaken London on cost! You will get very little for your money in Australia anymore, unless you buy somewhere out of city. In that case you will find it very cheap and extremely difficult to sell with little capital appreciation. The place is so vast that places out of the cities do not have a normal property market, as we would see it.

People from the UK would sometimes find the wages surprisingly low after working in the UK. People over here should consider that we are in the first stages of a substantial crash. Australia has not really begun, although there are signs of stress in the market.

Canada is second most expensive and Uk third. The USA has fallen right down the tables because it has collapsed and has not finished either.

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Interesting that they put Spain as the number three destination for FTB's. The total sales for by non Spanish buyers in the first quarter was... 79.

Nobody is buying in Spain; how can it be the third most popular for first time buyers?

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I think the most important thing here is that FTBs are voting with their feet - I have long been convinced that the ludicrous asking prices in the UK will result in a 1970's style brain drain.

This actually has enormous rammifications for the UK if it gathers pace.

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Moneycorp says that the most popular place for first time UK buyers to consider buying is now Australia.

...most people going to Australia at present are renting ...the bubble is about to burst in housing .....exchange rates due to the high interest rates there make £sterling weak....this is a non story..... :rolleyes:

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Being the nation of 'Neighbours', Home and Away', and the birthplace of that custodian of taste, Rupert the farting pig Murdoch, it follows that Australia is very popular with UK buyers.

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There is an ozzie TV show that my missus watched don’t ask me the name of it cos I am not a big telly guy. It has a pommy guy probably one that the UK bears hate and he is a what I would call a buyers agent. He fixes up pomms with gaff in oz. Anyway the one I watched had poms getting into houses in Perth near the beach. They actually priced the house in pounds that is why I got interest.

It had a really happy ending when you seen those pommy families and kids deciding on the dream houses they eventually bought and how much better value it was to anything near home. Sorry I don’t have the numbers to support this but it was a pretty compelling and beautiful scene on sight to see the old boy finally arrive, mum to sigh with relief at her personal achievement and the kids top jump in the pool and walk to school.

Please do not even hint at the idea that moving to Australia to get into its housing bubble just before the crash is a good idea..

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There is an ozzie TV show that my missus watched don’t ask me the name of it cos I am not a big telly guy. It has a pommy guy probably one that the UK bears hate and he is a what I would call a buyers agent. He fixes up pomms with gaff in oz. Anyway the one I watched had poms getting into houses in Perth near the beach. They actually priced the house in pounds that is why I got interest.

It had a really happy ending when you seen those pommy families and kids deciding on the dream houses they eventually bought and how much better value it was to anything near home. Sorry I don’t have the numbers to support this but it was a pretty compelling and beautiful scene on sight to see the old boy finally arrive, mum to sigh with relief at her personal achievement and the kids top jump in the pool and walk to school.

Phil Spencer down under ?

Phil Spencer Under Police Protection

Edited by Saving For a Space Ship

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Apparently, their own data comes from an opinion survey. These are totally flawed as a way to assess real trends. People are asked if they would consider buying overseas, but they answer without thinking of the implication (moving to Australia isn't exactly the same thing as moving to the other side of the street...) Basically, it's a popularity contest between countries, and most respondants have never really considered moving, nor have studied the housing market. Speaking of exchange rates is ludicrous : they say one in four FTB (and in survey lingo, that means renter...) is considering leaving the UK (good news, a few years at that rate and you'll have no more housing bubble, no population either...), and I am pretty sure not one person in four even knows that exchange rate fluctuates, let alone time their emigration to benefit from short-term FX trend (it boggles the mind that someone at moneycorp is seriously thinks they do...)

The second most-popular destination is France, because, according to moneytrend, of the rebounding housing market. Because we all know FTB are housing experts, and study real estate markets abroad extensively before deciding in which country they'll live in... (well, not that expert because they'd know the market isn't rebounding at all in traditional area of UK immigration).

So basically, people like Australia (kangaroos are pretty). They still like Spain (sun, beaches...), but maybe a few of them had heard there was an housing debacle, and that was enough, but it's still the third most popular destination.... I guess a place where it may make sense to buy, Germany, because their was no housing bubble there, ranks #178.

Edited by Richelieu

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Having been to Australia on several occasions, their "culture" always struck me as several years behind Britain.

Based on that TV link, I see it still holds true.

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Having been to Australia on several occasions, their "culture" always struck me as several years behind Britain.

Based on that TV link, I see it still holds true.

.....less Lager louts then...?.... :rolleyes:

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BBC has had a number of daytime "down under" ramping programmes on which perhaps partly explains this

...these programmes are often out of date as far as the currency, IR and housing markets are concerned and the skills quotas for immigration..... :rolleyes:

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I know a one couple who emigrated in 2007 and purchased a property and they are really beginning to struggle financially and that is with 2 wages!

I took one look at property in Western Australia it was obvious to me property is well over priced and have been since 2007.

The best time to arrive in Western Australia was probably before 2003 property prices have more than doubled since then.

so unless of course you have a guaranteed skilled job in the mines Western Australia is now too expensive a place to own property as a first time buyer

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I know a one couple who emigrated in 2007 and purchased a property and they are really beginning to struggle financially and that is with 2 wages!

I took one look at property in Western Australia it was obvious to me property is well over priced and have been since 2007.

The best time to arrive in Western Australia was probably before 2003 property prices have more than doubled since then.

so unless of course you have a guaranteed skilled job in the mines Western Australia is now too expensive a place to own property as a first time buyer

Bah! That is nothing. They have quadrupled since 2002 where I am!

Completely nucking futs.

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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