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Meanwhile In Australia, An Illustration Of What A Crash Can Do To Prices

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OK this is a specific part of a specific market, but it just goes to show what can happen to prices on the downside

http://www.bloomberg.com/news/articles/2015-10-21/home-prices-dive-as-australian-mining-towns-go-from-boom-to-bust

Homes in some Australian mining towns have lost almost three quarters of their value after the country’s resource boom peaked and commodity prices plunged, according to CBRE Group Inc.

House prices in Queensland, home to much of Australia’s coal output, recorded the steepest declines as mine closures wiped out jobs, CBRE said in a report Wednesday. Home values fell 73 percent in Dysart and 71 percent in Moranbah in just three years, the property services and investment firm said.

Companies such as BHP Billiton Ltd. had poured workers into Australia’s regional towns in an exploration and construction blitz, sending home prices and rents soaring. With projects completed and commodities tumbling, resource hubs have seen their populations shrink -- sapping demand for housing.


“As investment spending continues to slow, demand for property has contracted significantly,” CBRE Senior Research Manager Sam Reilly said in the report. “Residential markets in Australia’s mining towns are unlikely to enter a new growth cycle over at least the medium term.”

In Western Australia, home prices in Karratha have tumbled 44 percent since 2012, and lost 31 percent in the past year alone, CBRE said.

“The chances of a rapid rebound in new resource projects is low,” Reilly said.

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The UK's equivalent to Australia's mining industry is the city of London- the major product of which is debt. Fortunately the global appetite for debt seems limitless so our future is undoubtedly secure. (Insert 'heavy irony' icon here)

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http://www.bloomberg.com/news/articles/2015-07-31/the-600-million-mine-sold-for-a-dollar-underscores-ruin-of-coal

'The destructive force of a collapse in world coal prices has been underscored by the sale of a mine valued at A$860 million ($631 million) three years ago for just a dollar.

Brazilian miner Vale SA and Japan’s Sumitomo Corp. sold the Isaac Plains coking-coal mine in Australia to Stanmore Coal Ltd., the Brisbane-based company said Thursday in a statement. Sumitomo bought a half stake for A$430 million in 2012.'

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Can we have this in context...I mean, does a 75% fall take them all the way back to where they were 3 years ago or something...what have prices done over a longer timeframe. I notice bloomberg has a habit of this...its like the Daily Mail of Finance...clickbait article's with about 1/10th of the info you need to draw any worthwhile conclusion.

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Fvck Australia. Expensive, too hot, full of misogynistic ignorant bigots, miles from nowhere, sun that turns your face into wallet leather by the time you're 30 and your skin cancerous by 40, poisonous everything and crap beer.

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Fvck Australia. Expensive, too hot, full of misogynistic ignorant bigots, miles from nowhere, sun that turns your face into wallet leather by the time you're 30 and your skin cancerous by 40, poisonous everything and crap beer.

Amen to that.....saw a program on it,where the family try to decide to go or stay in the UK or aussie, fat lump carpet fitter does a work experience for a company,nearly dies of heat exhaustion fitting the first room......sweating like a pig,if he did move there and did that job,I recon he's dead now,that country is not for pommies

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Amen to that.....saw a program on it,where the family try to decide to go or stay in the UK or aussie, fat lump carpet fitter does a work experience for a company,nearly dies of heat exhaustion fitting the first room......sweating like a pig,if he did move there and did that job,I recon he's dead now,that country is not for pommies

I love how everyone that goes on these shows says the same things. When finished work every day we will come back home, have a BBQ and some wine then go to the beach.

No - no you won't.

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When finished work every day we will come back home, have a BBQ and some wine then go to the beach.

When I lived in Brisbane, I was surprised at how few people actually went to the coast. It was like it didn't exist, even though it's not far away. The only beach for many in Brisbane is the fake "beach" that was in Southbank.

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Fvck Australia. Expensive, too hot, full of misogynistic ignorant bigots, miles from nowhere, sun that turns your face into wallet leather by the time you're 30 and your skin cancerous by 40, poisonous everything and crap beer.

Oh come on, that's not fair. Have you tasted Little Creatures Pale Ale?

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Oh come on, that's not fair. Have you tasted Little Creatures Pale Ale?

There will always be exceptions that prove rules.

I know a fair few people who have moved to Australia, only to become disillusioned and move back. The picture postcard golden beaches and outdoor lifestyle are often a far cry from the reality - stuck in suburbia in a foreign city with few friends and no pubs, missing all the little things we take for granted in the UK. For all the congestion and cloudy days, we live in a veritable theme park of a country.

Sure, it's a slightly run down, overcrowded theme park full of wasps circling around sticky bins, but there isn't much out there to better it.

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When I lived in Brisbane, I was surprised at how few people actually went to the coast. It was like it didn't exist, even though it's not far away. The only beach for many in Brisbane is the fake "beach" that was in Southbank.

I lived there for a year - I couldnt be bothered going to the beach after working all day.

I imagine people that literally live 'on the beach' will do it regularly. But that goes for pretty much anywhere.

I wouldnt say the weather is 'better' in general. Extreme heat isnt pleasant. But there is a lot more sun - and that does make a difference.

Sure, it's a slightly run down, overcrowded theme park full of wasps circling around sticky bins, but there isn't much out there to better it.

Quality :)

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The UK's equivalent to Australia's mining industry is the city of London- the major product of which is debt. Fortunately the global appetite for debt seems limitless so our future is undoubtedly secure. (Insert 'heavy irony' icon here)

It's not is whatever you think of bankers. One is a god forsaken town in the middle of no where next to a mine. The other is the centre of a world city steeped in history founded by the Romans which has shops, restaurants, bars clubs that make a nice living from city money but that's not their only source of revenue and history jumps out at you from every street from the Monument to the pubs to Jack the Ripper tours and did I mention a reasonably priced meal that anyone can book in The Sky Garden at the top of the Walkie Talkie building in Leadenhall Street

So not equivalent at all

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I love how everyone that goes on these shows says the same things. When finished work every day we will come back home, have a BBQ and some wine then go to the beach.

No - no you won't.

Not that different to living in an outer London borough all your life.......hardly ever venture into town unless work forces you there, then can't wait to get out and all that entails.

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Not that different to living in an outer London borough all your life.......hardly ever venture into town unless work forces you there, then can't wait to get out and all that entails.

+1 I have three mates all Aussie middle aged guys who moved their families to the UK all state this in one form or another

1. It's a hot Island 8 hours from anywhere

2. Strange combination of getting P**** as a culture and yet almost puritanical in their hatred and enforcement of road offences like speeding

3. Average mentality is misogynist sexist 50's bigot

4. The bright ones leave

5. In awe of how easy Europe is to access from the UK - Skiing, Rome, Berlin ,Paris the adriatic etc etc (and why don't we take more advantage )

6. No they don't BBQ every day they do a job and go home just like us

One commented if you are a nurse in a leaky flat in a shoebox in Willesden of course it is attractive and probably the right move but if you are halfway successful and want your kids to have a broad education and be plugged into the world it's a retrograde move

Edited by Greg Bowman

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+1 I have three mates all Aussie middle aged guys who moved their families to the UK all state this in one form or another

Agree, just like any other islanders. Although it's a big island, Oz is still an island that is far from anywhere. Same motivations as an islander living in the remote north of Scotland. One thing I've noticed about Oz residents that I meet in UK/France...most are here having found work in Finance or related industries. The collapse of 2007/8 spooked a few at the time. Plumbers, joiners etc have been undercut these last 10yrs by eastern europeans ... so these guys tend to come for 2-5yrs max then head elsewhere.

The middle aged ones all tell me they'll head back for the sun/sea etc by the time they're 50, and their kids are just about secondary school age. Much like any Londoner says they'll leave for the shires at that age. In reality, they rarely do....they get stuck in the routine and enjoy the salary....their "dreams" gone forever... -_-

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Agree, just like any other islanders. Although it's a big island, Oz is still an island that is far from anywhere. Same motivations as an islander living in the remote north of Scotland. One thing I've noticed about Oz residents that I meet in UK/France...most are here having found work in Finance or related industries. The collapse of 2007/8 spooked a few at the time. Plumbers, joiners etc have been undercut these last 10yrs by eastern europeans ... so these guys tend to come for 2-5yrs max then head elsewhere.

The middle aged ones all tell me they'll head back for the sun/sea etc by the time they're 50, and their kids are just about secondary school age. Much like any Londoner says they'll leave for the shires at that age. In reality, they rarely do....they get stuck in the routine and enjoy the salary....their "dreams" gone forever... -_-

I have pale skin ( I have vitiligo but all patches gone so no one knows hard on young girls and lads who get it) so the Sun would mean a lifetime of slip slap slop or wearing clothes on the beach.

So a permanent place anywhere isn't really an option but I like a warm summer holiday like anyone else but it means that these fantasy dreams most people have are not for me which actually I find quite liberating

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I have pale skin ( I have vitiligo but all patches gone so no one knows hard on young girls and lads who get it) so the Sun would mean a lifetime of slip slap slop or wearing clothes on the beach.

So a permanent place anywhere isn't really an option but I like a warm summer holiday like anyone else but it means that these fantasy dreams most people have are not for me which actually I find quite liberating

The western half of Tasmania is no sunnier than most the UK... even Melbourne isnt a sunny city by international standards.

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The western half of Tasmania is no sunnier than most the UK... even Melbourne isnt a sunny city by international standards.

Even less reason to fantasise then !! Thanks for info always good to know

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I have an Aussie passport, tried to emigrate there in 1998, came back after a year to the UK. I found it.....too big. Lonely feeling. A creeping feeling of....things are happening elsewhere, but not here. Everywhere you want to go within Australia seems miles away - even from one suburb to the next - just look how far the suburbs spread in each city. Neighbourhoods look like nobody lives in them. Lack of truly seasonal weather. Crazy heat - I remember getting burnt, red skin on a cloudy day. I didn't realise I had to sheep-dip myself in factor-50 everyday if I went outside.

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Its funny reading these posts...

Not posted on here for ages, but I am currently sitting here in the middle of Brisbane as I post, its 10pm here.

Its a lovely mild evening, weather is superb at the moment, but like all places there is good and bad. I live a free boat trip away from Brisbane City, so life ain't all that bad, albeit my rent is $650 aweek, yes aweek lol....

Wages are good if you can get work, but I agree with a lot of the comments above. I miss the UK badly at times, I miss the culture, I miss pubs, but most of all I miss the English wit and etiquette but really most of all i miss the English MANNERS, general manners seem weak over here..

I will come home at some point, the heat is worse than the rain, mosquitoes are a nuisance, but I guess if you are working 60 hours a week and travelling four hours a day to get there and back life will be sh!t anywhere.....I know quite a few who do over here..I do not.

But I agree, Oz is nothing like what you see on the TV or postcards, Australians in general who are over the age of 45 here in Qld seem a pretty unhappy and stressed out lot...Things are getting tough over here, they have had it good for a long time, interesting times ahead me thinks...

Edited by Panda

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When I lived in Brisbane, I was surprised at how few people actually went to the coast. It was like it didn't exist, even though it's not far away. The only beach for many in Brisbane is the fake "beach" that was in Southbank.

We live about 10 minutes from Fremantle and haven't been to the coast for months. 2 month old baby getting in the way!

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Oh come on, that's not fair. Have you tasted Little Creatures Pale Ale?

Yes - fortunately there is a shop in Leederville that sells a range of UK beers - Fullers, Greene King, Marstons, and several other Uk brands.

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Crazy heat - I remember getting burnt, red skin on a cloudy day. I didn't realise I had to sheep-dip myself in factor-50 everyday if I went outside.

... and then someone has the job of rubbing after-sun lotion on them ...

bikini-460_1009113c.jpg

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