Leaving the UK.

[Gwailo]

I have been reading this forum for sometime now and it is obvious to me that 'sentiment' in the UK has now changed, in that many more people on this forum are convinced there is now a market correction underway.

My question is, if the market really falls.......all well and good!

However, if prices remains high, (too high for FBTs at least), how many of you would just give up on it all and emmigrate out of the Uk to start a new life aboard?

I live in Hong Kong and I now know I could not currently afford to move back to the UK and purchase a property, not that I have any such intention to move back.

Look forward to any views.

[Gwailo]

I am in Estonia as I write this.

Luxury properties are alot cheaper here- but salaries are MUCH lower

So both are important.

I used to live in Hongkong many years ago, and my girlfriend is from there.

Hongkong has seen a big drop in its property prices, but I believe it is not much cheaper

than the UK.  If you can afford HK, you can afford UK.  But IMO, you should wait for

a correction here before buying

<{POST_SNAPBACK}>

Ah, but here in Hong Kong we only pay 15% Tax and there is no VAT, TV Licence, Community Charge etc.

Plus the fact that salaries in my profession are far higher here than in the UK.....all adds up to the UK being too expensive an option to move back to.

No, my point was would people living in the Uk serious consider leaving to move abroad to a better (and often cheaper) quality of life? Just throwing a question into the forum for a change.

Cheers, what it like in Estonia then?

[gone to spain]

Here in the Costa del Sol there are so many British people that you could be forgiven for thinking it is not Spain. Many Brits have MEWed everything out of their house in the UK to buy something in the Costa del Sol. If it gets to the stage where the value of their house in the UK is less than their mortgage then they will simply let the bank reposess it and they will stay in Spain. Most of the Brits here are disillusioned with the UK and would not care at all about abandoning it.

[CrashedOutAndBurned]

We've said many times that if prices don't crash properly, well, that's it - we're just moving abroad. Probably France or Spain, although Canada's probably the best bet all-round.

[laurejon]

I think the real decline will be after the election, next spring should see a little more activity in the market as many people bottle out and fall prey to the Labour Parties spin on property.

I will hopefully sell up next spring, and head over to Oz in late 2005. Sydney is seeing some falls in prices and I would think that as their cycle is ahead of ours by a year they will be hitting the bottom in two years time.

Just by waiting since January this year I have already saved 100,000 Aud on a two bed unit at Manly Beach in Sydney. I would expect to get a least another 100k off before I would step into their market.

Oz has for a period of time led the way in the BTL business, when I was out there in 1997-2000 the world and his wife had two or more properties financed by what they describe as negative gearing. We would describe this method of finance as insanity.

The rental yeilds in Sydney now put the market firmly in favour of the tennants and the recent introduction of exit taxes on second home (Blair is thinking along the same lines) has pushed the market over the edge. Tennants in Sydney can now rent a two bed unit on the Northern Beaches for around 1,4000 Aud PCM the price to purchase that unit several months ago would have been around 550k Aud.

The vacancy rate on rental homes is now reaching record highs serving to push the market one way. People are now realising that it may well be better to cut your losses and lose a 100K than wait for the day when the only purchasers are those attending the Repo Auctions.

[GORT]

Ah, but here in Hong Kong we only pay 15% Tax and there is no VAT, TV Licence, Community Charge etc.

Plus the fact that salaries in my profession are far higher here than in the UK.....all adds up to the UK being too expensive an option to move back to.

No, my point was would people living in the Uk serious consider leaving to move abroad to a better (and often cheaper) quality of life?  Just throwing a question into the forum for a change.

Cheers, what it like in Estonia then?

<{POST_SNAPBACK}>

May i enquire what profession/industry u are employed in Gwailo? I think the question u have raised is a very interesting one. Perhaps we should do a poll? Thanks

[bottom feeder]

I think the real decline will be after the election, next spring should see a little more activity in the market as many people bottle out and fall prey to the Labour Parties spin on property.

I think we will start to feel the disaster that is going to happen in the US after their elections in November. The problems in the UK will pale into insignificance. The whole of the US population has to stop living beyond their means and start to pay down their borrowing. Interest rates can be sub-zero and it won't help.

Japan style meltdown maybe?

We shall see.

[Crazy88s]

I have been reading this forum for sometime now and it is obvious to me that 'sentiment' in the UK has now changed, in that many more people on this forum are convinced there is now a market correction underway.

My question is, if the market really falls.......all well and good!

However, if prices remains high, (too high for FBTs at least), how many of you would just give up on it all and emmigrate out of the Uk to start a new life aboard?

I live in Hong Kong and I now know I could not currently afford to move back to the UK and purchase a property, not that I have any such intention to move back.

Look forward to any views.

<{POST_SNAPBACK}>

Trouble is where can you go?

Most of Europe is over populated. The U.S. is a culture vacuum. Maybe south east asia where the weather is allways nice, but you might loose your head in that part of the world. No in this so called global village if you should be able to make it anywhere. (Well maybe not in Africa - poor sods)

[Clueless]

The Wife and myself are currently buying some land in Mexico on the outskirts of Tampico, a harbour city on the East coast. The land looks over a large natural lagoon and is close to a new retail development soon to be built

The land and building costs are a fraction of what they would be in the UK and the quality of life is far superior. For instance the house we’re building to live in will be a 5 bedroom colonial style house with an interior courtyard which will come in at less that £50K.

Latin America would certainly be worth a look if you were interested in moving outside Europe.

[Crazy88s]

The Wife and myself are currently buying some land in Mexico on the outskirts of Tampico,  a harbour city on the East coast. The land looks over a large natural lagoon and is close to a new retail development soon to be built

The land and building costs are a fraction of what they would be in the UK and the quality of life is far superior. For instance the house we’re building to live in will be a 5 bedroom colonial style house with an interior courtyard which will come in at less that £50K.

Latin America would certainly be worth a look if you were interested in moving outside Europe.

<{POST_SNAPBACK}>

Shhhh dont tell everyone.

[zzg113]

isn't Mexico already flooded with Yanks and their money?

[Crazy88s]

isn't Mexico already flooded with Yanks and their money?

<{POST_SNAPBACK}>

What really worries me is that the carribean coastline will be a re-run of the spannish costa's.

And I supose, Americans can be unbearably load and ignorant of other cultures at least they arent sun-reading egg & chip eating yobs.

[zzg113]

surely the Carribbean is far too expensive for the most part to go the way of the Costas?

[Crazy88s]

surely the Carribbean is far too expensive for the most part to go the way of the Costas?

<{POST_SNAPBACK}>

Recently on a holiday program I saw some resorts on eastern side of Mexico called costa this, isla that anyway it all looked a bit trashy.

[zzg113]

that was my impression of Mexico; it has been colonised by the American frat-pack crowd.

[Clueless]

Tampico has very little tourism in fact I think only 4 hotels near the beach. It has its own airport which can be reached from Huston (USA) and the centre of the city dates back 200 years and has beautiful colonial architecture.

The tourism on that coast tends to be concentrated down near Cancun and I’m sure the property prices there would be similar to Europe if not more expensive.

[Crazy88s]

Tampico has very little tourism in fact I think only 4 hotels near the beach. It has its own airport which can be reached from Huston (USA) and the centre of the city dates back 200 years and has beautiful colonial architecture.

The tourism on that coast tends to be concentrated down near Cancun and I’m sure the property prices there would be similar to Europe if not more expensive.

<{POST_SNAPBACK}>

Despite my fears the way Mexico 'might' go. I think you are doing the right thing. I dont know the place as well as you. If it is cheaper to build in the US it is bound to be cheaper in Mexico.

[GORT]

Trouble is where can you go?

Most of Europe is over populated. The U.S. is a culture vacuum. Maybe south east asia where the weather is allways nice, but you might loose your head in that part of the world. No in this so called global village if you should be able to make it anywhere. (Well maybe not in Africa - poor sods)

<{POST_SNAPBACK}>

May Gort enquire how much of Asia Crazy 88 has experienced? (& by the way Tarantino rules!)

[zzg113]

the drug-addled part?

[Crazy88s]

May Gort enquire how much of Asia Crazy 88 has experienced? (& by the way Tarantino rules!)

<{POST_SNAPBACK}>

Well my first overseas job at 21 was a month in India

I have spent months in Malaysia and of course Singapore. I have been to Korea several time. I am no expert but I got in with a really good ex-pat community in Johar Barhu at the bottom of Malaysia. I wished I had stayed.

Mostly I travel to the U.S.

But I try not to travel at all these days.

[The Masked Tulip]

I think British People need to 'retake' Britain - no that is not a statement in support of racists or the UKIP.

It merely means that we need to address the 40 years of 1960s Social Engineering that has resulted in so much divorce, so many single parent families, so much crime, so much lowering of standards, criminals not being locked up, dirty streets, people being rude to elderly people, etc, etc.

No, I am not old - not even middle-aged but this is a great country - was a great country - and we can make it great again.

Failing that, lets all sod off to Canada or NZ and leave the Chavs what is left!

[Gwailo]

May i enquire what profession/industry u are employed in Gwailo? I think the question u have raised is a very interesting one. Perhaps we should do a poll? Thanks

<{POST_SNAPBACK}>

I actually work in 'Security Management' for a very large Government owned Corporation here in Hong Kong.

As you are aware, there are security concerns these days, (even in Hong Kong), so this area is now in high demand, particularly with Insurance companies requiring proper emergency procedures etc.

Anyway, Dr. Bubb........we both should have bought in HK after SARS, it would have been very profitable indeed! (Maybe too late now, any views?).

Regarding the suguestion about moving to South East Asia, that is in fact on my agenda (Malaysia) which is stable, safe and cheap! (compared to the UK & HK of course).

I was very interested to hear the comment about Brits in Spain prepard to just walk away from any potential negative equity situation 'back home', makes you wonder if there are more Brits planning to sell up now and move abroad......mas exodus perhaps?

Cheers.

[zzg113]

"lets all sod off to Canada or NZ and leave the Chavs what is left! "

I think if you look around carefully MT, you'll see that this is WHAT HAS ALREADY happened.

[chandellina]

"The U.S. is a culture vacuum."

gee- where does Britain - and the world - get xx% of its films, music, art shows and theatre productions from? That's a pretty ignorant and sweeping statement from someone who travels there - presumably you are excluding major cities from that comment?

[fdk]

I have been reading this forum for sometime now and it is obvious to me that 'sentiment' in the UK has now changed, in that many more people on this forum are convinced there is now a market correction underway.

My question is, if the market really falls.......all well and good!

However, if prices remains high, (too high for FBTs at least), how many of you would just give up on it all and emmigrate out of the Uk to start a new life aboard?

I live in Hong Kong and I now know I could not currently afford to move back to the UK and purchase a property, not that I have any such intention to move back.

Look forward to any views.

<{POST_SNAPBACK}>

I've been contemplating a move oversease for about the past 5 years !!!

But I do still see my medium to long term future being outside of the UK.

One of the main things that has kept me here is the fact that in my profession, London is probably the best paying city in the world. And this enables me to indulge in my main passion which is travel.

Once I have fulfilled my travel ambitions, there won't be a great deal to keep me in London. Then I'll sell up and go. Not sure where. Nearly all my family are overseas so that's also a big incentive to emigrate.

Property wise, I could afford to trade up to a nice 3 bed semi, but have absolutely no intention of chaining myself to a UK banking institution to achieve this.

People in this country are just professional slaves. Slaves to a work all hours, debt ridden, must have now culture. Alot of my 'financial services' friends are completely sucked in and just can't let go.

Already my local shopping mall is starting to fill up early each Saturday, as people start preparing for Christmas. Spend, spend, spend......just put it on the credit card. Peoples' priorities all are screwed up.

I'm looking forward to (hopfully) not being around when the reality check starts to bite.