Wednesday, April 21, 2010

Expat Brits spread house price cancer down under

Nine out of ten expats are so glad to be gone

Chris and Janice sold their Surrey house in 2007 and bought a four bed house in Auckland and although the average wage in NZ is £10754 house prices are much lower with the average house costing £110000. Somehow I think Mr & Mrs NZ born average may not view things the same way.

Posted by enuii @ 10:08 PM (1426 views)
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8 thoughts on “Expat Brits spread house price cancer down under

  • There’s a heavy dose of self-selection bias in these figures. The people who leave the UK are the ones who dislike it in the first place. Also there’s a confirmation bias: people don’t want to sound disappointed with the choices they’ve made, they nearly always say they are pleased with their decision. You can find similar figures elsewhere: 9 out of 10 Ford drivers are happy with the car they bought; and (tenuous link to HPC) 9 out of 10 homeowners are happy to have bought a house and are pleased to no longer be renting.

    That’s not to say things aren’t better elsewhere. There are two types of expat: those who move permanently (typically to Australia); and those who go abroad for a few years to earn shed-loads of cash. With the right skills, you could go to e.g. Dubai for a few years, earn lots of money tax-free, then return home to buy a humongous house.

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  • Absolutely Enuii, Those average houses are usually of very poor quality. “Leaky homes” is a term often used in NZ.

    OZ and NZ are becoming very expensive. Also NZ is certainly not keeping up with Australia’s boom.They’re in a catch 22 with their interest rate. Do they raise to keep up with Oz or keep them the same and hope their economy kicks in…..

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  • I’m glad they’ve gone too if they don’t like it here. They can sit around moaning about things somewhere else.

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  • Aren’t you moaning now Cyril?

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  • ” The average wage in NZ is £10754 house prices are much lower with the average house costing £110000″

    Which is still over 10 times the average salary, so they ain’t that cheap.

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  • Rentinginthesouth says:

    Erm, I’m an expat in Auckland and actually think housing is more unaffordable than the UK. It’s not all rosey here down under! 🙂

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  • 2 less boomers – thats a good thing: Lets just hope the others join them.

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  • A bit hypocritical of the mail, I thought they hated immigrants. Aren’t expats immigrants ?

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