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Smurf1976

Unemployment Rises Down Under

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http://www.abc.net.au/news/newsitems/200510/s1481355.htm

For details see the link but briefly:

State by state

New South Wales: The jobless rate is up 0.3 per cent to 5.3 per cent percent seasonally-adjusted.

Victoria: The jobless rate is up 0.4 per cent to 5.6 per cent seasonally-adjusted.

Queensland: The jobless rate is down 0.3 per cent to 4.9 per cent seasonally-adjusted.

South Australia: The jobless rate is up 0.2 per cent to 5 per cent seasonally-adjusted.

Western Australia: The jobless rate is down 0.3 per cent to 4.1 per cent seasonally-adjusted.

Tasmania: The jobless rate is up 0.3 per cent to 6.1 per cent seasonally-adjusted.

Northern Territory: The jobless rate is down 0.2 per cent to 4.3 per cent in trend terms.

ACT: The jobless rate remains unchanged at 3 per cent in trend terms.

....

If you take out the minerals boom states (Queensland and Western Australia) as well as the Northern Territory and ACT (because they calculate the stats differently - trend terms rather than seasonally adjusted) to leave the non-mining "core" economy then they are all up between 0.2% and 0.4% in just one month on a seasonally adjusted basis.

I'm not sure of the historic figures for all the states but Tasmania has experienced a series of 0.1% increases in recent months and now it's a 0.3% increase which is starting to become an established trend. Tasmania, whilst small in terms of population, is significant due to it's relatively high reliance on tourism (discretionary spending) and the housing cycle there being somewhat ahead of many of the other states (along with New South Wales which also had a 0.3% increase).

It's not proof of an impending crash but just another piece in the unfolding worldwide economic puzzle. And yes, it does have relevance to UK house prices since (1) Australia seems to be leading in this property cycle and (2) continuing low unemployment is one of the bulls' key arguments against a crash. Remember that markets are made at the margin so only a few % need to be forced sellers (due to unemployment) and all hell breaks loose with house prices.

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Don't mean to be a spoiled sport but that not that bad at all. Australian unemployment rates are traditionally higher, and I spent my entire 'career building' life phaze period (ie. my 20s) in Ump Rates of 7-9% - too much competition to be considered as more than a bottle washer if you don't have the right credentials, contacts or look. Then I came to England. Ecoonomic Immigrants paradise.

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Don't mean to be a spoiled sport but that not that bad at all. Australian unemployment rates are traditionally higher, and I spent my entire 'career building' life phaze period (ie. my 20s) in Ump Rates of 7-9% - too much competition to be considered as more than a bottle washer if you don't have the right credentials, contacts or look. Then I came to England. Ecoonomic Immigrants paradise.

Now here's a curious thing. I left the UK behind some years ago but have now come back in the hope and expectation of finding an extremely affluent future in the epicentre of the world (London), the most open market for talented people on the planet. But no luck so far. However I do have an unsolicted offer of a job back in Australia where I worked for some time a few years ago. Should I piss off before winter sets in? Or should I pass up the opportunity (which may be aone-way ticket), only to feel suicidal when the post-Christmas London weather does its worst?

Anybody got any advice on the Sydney rental market (big family homes)?

I'm mad even to think of not going, but there's more of interest value in a square mile here than in all of NSW.

Edited by BoredTrainBuilder

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Now here's a curious thing. I left the UK behind some years ago but have now come back in the hope and expectation of finding an extremely affluent future in the epicentre of the world (London), the most open market for talented people on the planet. But no luck so far. However I do have an unsolicted offer of a job back in Australia where I worked for some time a few years ago. Should I piss off before winter sets in? Or should I pass up the opportunity (which may be aone-way ticket), only to feel suicidal when the post-Christmas London weather does its worst?

Anybody got any advice on the Sydney rental market (big family homes)?

I'm mad even to think of not going, but there's more of interest value in a square mile here than in all of NSW.

Not sure what sort of advice you are looking for but if its geographical, for a first point try the lower-mid north shore. Better schools, reasonably posh and prices lower than the eastern suburbs. Eastern suburbs are crap up to Kings Cross and then they get very very posh and expensive. Chatswood, Manly, Pennant Hills I would say.

Because I don't have kids I would go for Manly if you are working in the city since the ferry only takes 20 mins. Also has a good main street feel, lots of eating places and you pass the Opera House on the way to work (OK so its a fairly meaningless culture point!... but hell!) Maybe not best for kids though.

Annandale/Glebe might be OK if you want to live inner with good transport but not so much space as the north shore and Glebe is a bit too tight (used to be boho student - became yuppie - probably going back to boho student now). DON'T go further west than Annandale. Leichhardt is a pit, and past that is the burbs!!! And don't cross Parramatta Road to the South since you need to avoid the south unless you want to end up with your kids becoming gang-banging middle class beach bums (although Syvania Waters is said to be ... yeah I just don't like it!). Entirely out of my frame of reference, but if your an evangelical christian I am told that Baulkham Hills (I can't even spell it properly - I know it spelt wrong but I don't know how) is totally the place to be right now.

Anyway the most comprehensive web site is:

http://www.realestate.com.au/cgi-bin/rsear...cat=&p=10&o=def

You can use this with multimap.com.au to get a fix.

Having just had a look, rents now are the same as they were 9 years ago (quite a bit less in some cases)

Good luck in anycase.

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Elizabeth,

Thanks for that.

The place of work would be Granville but with a need to get to central Sydney and the airport frequently.

I could probably avoid Baulkham Hills without any problems.

I like the buzz of Kings Cross but not the attendant squalor which seems to mirror that of its London namesake, is there anywhere with one but not the other?

I am more familiar with Melbourne and although I loved it I was ground down by the endless boring suburbs.

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  • 301 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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