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Bruce Banner

Wanted Down Under

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My wife is watching this now.

Couple from Northern Ireland, thinking of moving to Australia, and shocked that the value of their house has dropped from £230K to £140K in the last year.

And given that aussie prices have rocketed into a bubble, they had better not bother going there.

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And given that aussie prices have rocketed into a bubble, they had better not bother going there.

A few short years ago, a pom selling up and pocketing 200K would have bought half a mansion in Aus, Then the GBP was worth 2.50 AUD and thus 500K AUD, Now worth 1.55. Aus house prices have carried on up by another 30% in the last 2 years. So your old 200k house would now maybe sell for 170k translated in AUD = 263K Which would barely buy you a one bedroom flat anywhere in any city in Aus. If you go to Aus with nothing, no problem, if you sell up a house with big equity, you are blowing the lot in what is, in all reallity a boom and bust casino economy.

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A few short years ago, a pom selling up and pocketing 200K would have bought half a mansion in Aus, Then the GBP was worth 2.50 AUD and thus 500K AUD, Now worth 1.55. Aus house prices have carried on up by another 30% in the last 2 years. So your old 200k house would now maybe sell for 170k translated in AUD = 263K Which would barely buy you a one bedroom flat anywhere in any city in Aus. If you go to Aus with nothing, no problem, if you sell up a house with big equity, you are blowing the lot in what is, in all reallity a boom and bust casino economy.

Yeah, double whammy.

Lose 40% on UK house and buy at the top of the market in Australia, just in time to lose another 40%, oh dear.

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I watched this show last week too, and each day it seems to be the same tale. There is a huge gap between what the estate agents are valuing their UK properties for, and what the owners think they are worth.

I recall one couple who thought their property was worth £300k, and when the agent said it was worth £230k, they said along the lines of "we won't sell it for that. It is worth far more than that."

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A few short years ago, a pom selling up and pocketing 200K would have bought half a mansion in Aus, Then the GBP was worth 2.50 AUD and thus 500K AUD, Now worth 1.55. Aus house prices have carried on up by another 30% in the last 2 years. So your old 200k house would now maybe sell for 170k translated in AUD = 263K Which would barely buy you a one bedroom flat anywhere in any city in Aus. If you go to Aus with nothing, no problem, if you sell up a house with big equity, you are blowing the lot in what is, in all reallity a boom and bust casino economy.

Paging Mr Bardon. HPC calling!

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I watched this show last week too, and each day it seems to be the same tale. There is a huge gap between what the estate agents are valuing their UK properties for, and what the owners think they are worth.

I recall one couple who thought their property was worth £300k, and when the agent said it was worth £230k, they said along the lines of "we won't sell it for that. It is worth far more than that."

It must be tough being an honest and down to earth estate agent these days.

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My wife is watching this now.

Couple from Northern Ireland, thinking of moving to Australia, and shocked that the value of their house has dropped from £230K to £140K in the last year.

Did they mention how much they paid for it intially?

It is remarkable how often you hear people saying how awful it is that they are losing money now their houses have dropped in value then you realise that they paid naff all for it so have lost nothing at all....

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Did they mention how much they paid for it intially?

It is remarkable how often you hear people saying how awful it is that they are losing money now their houses have dropped in value then you realise that they paid naff all for it so have lost nothing at all....

Neither is the question posed as to whether they could afford to buy their existing property now.

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My wife is watching this now.

Couple from Northern Ireland, thinking of moving to Australia, and shocked that the value of their house has dropped from £230K to £140K in the last year.

Dear BBC

Please can you send me on A free trip to Australia.

I promise that I will pretend that I am considering moving there permanantely, but at the end of the program I will probably decide that it's not for me

Timmy

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A few short years ago, a pom selling up and pocketing 200K would have bought half a mansion in Aus, Then the GBP was worth 2.50 AUD and thus 500K AUD, Now worth 1.55. Aus house prices have carried on up by another 30% in the last 2 years. S

Couple of my friends did just that! :huh:

Not sure if they were wise or just lucky, but it worked for them! <_<

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Did they mention how much they paid for it intially?

It is remarkable how often you hear people saying how awful it is that they are losing money now their houses have dropped in value then you realise that they paid naff all for it so have lost nothing at all....

Well in the case of someone selling up to move to Aus, then a drop from 2007 prices is a case of losing. We did the sums, our money is in UK, cant aford to move it to Aus at current ex-rate so wont bother for now. Would be a case of swaping a house for a flat.

Couple of my friends did just that! :huh:

Not sure if they were wise or just lucky, but it worked for them! <_<

2.5 years + ago no problem. Indeed, quite a few who went to Aus in last decade after making a killing in the UK market, buying in the Aus market and doubling their money and now going back to Uk with more than 2x as much as they started with(in GBP, that is). Not only, can probably now buy their old house back for a bit less than they sold it for and a couple of BTL's for cash :lol:

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Today's family. Something doesn't seem quite right,

Was pretty funny when the house they thought was worth £800K was worth £325K though.

Don't really get their lifestyle based on a part time supply teachers wage of £21K? How much are they getting on benefits? (five kids, one special needs).

Edited by Tonkers

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Well in the case of someone selling up to move to Aus, then a drop from 2007 prices is a case of losing. We did the sums, our money is in UK, cant aford to move it to Aus at current ex-rate so wont bother for now. Would be a case of swaping a house for a flat.

2.5 years + ago no problem. Indeed, quite a few who went to Aus in last decade after making a killing in the UK market, buying in the Aus market and doubling their money and now going back to Uk with more than 2x as much as they started with(in GBP, that is). Not only, can probably now buy their old house back for a bit less than they sold it for and a couple of BTL's for cash :lol:

This morning's a belter!!! Bought house in 2001, 100 odd k, wanted to sell for 800K!

Estate Agents valued at 325K and the woman is in complete state of denial-Erm, asset prices can drop dear!!!!!!

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Anyone watch this? Seen it a couple of times now, basically a family go to Australia or New Zealand for a week with a view to a permanent move. Whilst there, and after they have looked at possible house purchases and schools etc, they get an estate agent to value their home in the UK whilst they watch on the tv down under. Its classic to watch when they realise their dream is over when their UK property is 'undervalued'.

Estate agent just valued a couples home at 325k. The husband in the couple stated "Im not giving it away, no way am I accepting that, I want at least 650K because thats how much its worth". The wife agreed and subsequently said "Well I dont care what people think its worth, its what its worth to me that counts". Not if you want to sell and move abroad you stupid woman.

This bubble has warped people's minds.

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"I won't let it go for less than 650k, I think it is worth 650 at least!" blink.gif

When he loses his job that will be 65*s income.

What are the benefits like in New Zealand?

This guy (who seemed a bit slow tbh) was a bit miffed about working full time ffs.

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This series has bought home to me just how INCREDIBLY delusional current UK home "owners" are regarding the real value of their homes.

Day after day we have seen owners not believing the current valuations the agents are giving them.

For example, as seen on today's show, how can anyone imagine, and think it is their right, to make £500,000 of profit on their home, especailly when they have only had it for under 3 yearsr?

I think far too many home owners must of been watching and believing, all these VI shows such as "Homes Under the Hammer". :rolleyes:

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Todays program summed up just about everything that's wrong in this country. The sheer denial on both their faces and the arrogance when told that their £800k home was worth around £325k - £400k was astounding. Also, the fact that they wouldn't get tax credits in New Zealand like they do here in the UK beautifully demonstrated their sense of entitlement.

Spending £110k on a house in 2001 and then find some sucker to buy it off them for £800k netting them well over half a million £, un-taxed, for doing the square root of f@*k all.

Vile. dry.gif

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This series has bought home to me just how INCREDIBLY delusional current UK home "owners" are regarding the real value of their homes.

Day after day we have seen owners not believing the current valuations the agents are giving them.

For example, as seen on today's show, how can anyone imagine, and think it is their right, to make £500,000 of profit on their home, especailly when they have only had it for under 3 yearsr?

I think far too many home owners must of been watching and believing, all these VI shows such as "Homes Under the Hammer". :rolleyes:

VI shows they certainly are. That Martin Roberts is a toad..... http://www.martinroberts.co.uk/

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Yeah, double whammy.

Lose 40% on UK house and buy at the top of the market in Australia, just in time to lose another 40%, oh dear.

It is a triple whammy, if you include currency devaluation :rolleyes:

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  • 312 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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