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Overseas Buyers In London

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Couple of anecdotes with a similar theme: two UK ex-pat acquaintances here who own property in London were looking to sell up to buy in Sydney. Changed their mind and have been sending cash back to the UK for the last year or so. One of them was back in the UK last week and decided to buy another property there. Met with a bank and they were more than happy to lend to him even as an overseas resident. The key thing is that his A$ salary converts to a ridiculous GBP equivalent: he'd a general manager here but he's paid like a CFO in pound terms.

Shag all mortgage interest rates plus weak pound... if the Aussies are doing it, there must be plenty of other resource drive investment from nearer by.

"Bad" news for Sydney property, "good" news for London?

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Wow - moved within two minutes without so much as a breadcrumb left on the main page - seems a bit rude. Don't mean to be too solipsistic but this is beginning to look like a pattern.

Should I stick to political posts instead to ensure I linger on the main board?

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Couple of anecdotes with a similar theme: two UK ex-pat acquaintances here who own property in London were looking to sell up to buy in Sydney. Changed their mind and have been sending cash back to the UK for the last year or so. One of them was back in the UK last week and decided to buy another property there. Met with a bank and they were more than happy to lend to him even as an overseas resident. The key thing is that his A$ salary converts to a ridiculous GBP equivalent: he'd a general manager here but he's paid like a CFO in pound terms.

Shag all mortgage interest rates plus weak pound... if the Aussies are doing it, there must be plenty of other resource drive investment from nearer by.

"Bad" news for Sydney property, "good" news for London?

London looks cheap compared to paris sydney Vancouver mainly because the pound is weak and getting weaker. But locally London is still expensive and domestic economics will always rule. Look at Miami as a perfect example

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Just this week I had someone in Melbourne say they were looking to buy a flat in Richmond as a holiday place for his family. Looking long term, next 20 years, as his kids grow up and do the Europe thing. From the Aussie point of view, prices are down as much as 50% off peak in London due to the currrency shift!

Btw, I mentioned more falls possibly to come, and he didn't care - in his mind, even a further 10-20% fall in GBP wasn't that interesting....

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Couple of anecdotes with a similar theme: two UK ex-pat acquaintances here who own property in London were looking to sell up to buy in Sydney. Changed their mind and have been sending cash back to the UK for the last year or so. One of them was back in the UK last week and decided to buy another property there. Met with a bank and they were more than happy to lend to him even as an overseas resident. The key thing is that his A$ salary converts to a ridiculous GBP equivalent: he'd a general manager here but he's paid like a CFO in pound terms.

Shag all mortgage interest rates plus weak pound... if the Aussies are doing it, there must be plenty of other resource drive investment from nearer by.

"Bad" news for Sydney property, "good" news for London?

Yep. In AUD terms, UK house prices are beginning to look okay relative to the local market. If you had squillions floating around, I suspect it wouldn't be a bad punt. My mind has certainly wandered down that path...though perhaps moving the cash now and waiting 6 months before buying could be even more profitable. I get the feeling from the Sunshine Coast market that people are trying to sell up here (not particularly successfully) and return to Blighty with their windfalls.

The only problem is that you may be investing in the future Bulgaria, sans Mediterranean.

Edited to add: Why was this moved to anecdotals so quickly?

Edited by Tiger Woods?

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Couple of anecdotes with a similar theme: two UK ex-pat acquaintances here who own property in London were looking to sell up to buy in Sydney. Changed their mind and have been sending cash back to the UK for the last year or so. One of them was back in the UK last week and decided to buy another property there. Met with a bank and they were more than happy to lend to him even as an overseas resident. The key thing is that his A$ salary converts to a ridiculous GBP equivalent: he'd a general manager here but he's paid like a CFO in pound terms.

Shag all mortgage interest rates plus weak pound... if the Aussies are doing it, there must be plenty of other resource drive investment from nearer by.

"Bad" news for Sydney property, "good" news for London?

nope - income yields are still poor in London, still priced in £

so your mate doesn't understand basic finance

the Economist magazine made a point about London property - it is the one western property market that is seeing overspill from the Emerging Economies property bubble and associated sentiment;

still a bubble

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  • 317 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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