|June 4, 2006 12:49 – Cashed-Up UK Migrants Boost Prices
Perth is a popular location for UK migrants because of its lifestyle and affordability and the fact that coastal properties are still affordable. WA has the highest proportion of UK residents with more than one in 10 residents born in the UK.
Many of the migrants coming to Perth from the UK are cashed up from selling their UK home. Rising prices in Britain saw the median price in Greater London during the December quarter in 2005 at $630,000, Brits can afford to buy property in a coastal location and still have cash left over for living expenses.
In the past financial year , WA gained more than 16,000 migrants and many went to Perth’s coastal areas. Many of the migrants from Greater London migrant are used to travelling long distances to work and therefore attracted to buying in coastal areas such as Mindarie because the travelling time into the city is not an issue.
In recent months many homes have been sold to migrants from Scotland and Northern Ireland where house prices are soaring.
Source: Hermione Stott Sunday Times 4 June 2006
June 4, 2006 13:12 – Extended Drinking Hours During World Cup
Australia’s first World Cup finals qualification in 32 years is expected to draw big crowds into the city. Seventeen venues have been given permits to extended hours during the soccer World Cup. With 3am match kick offs some venues will be staying open all night. The World Cup will have a bigger worldwide television audience than the Olympic Games.
The largest local gathering will be at Members Equity Stadium for Australia’s showdown against Brazil on June 18th. Perth Glory will kick of the festivities with a match against Malaysian under-23 side, followed by musical entertainment and the brazil game on a huge screen from midnight. Tickets cost $10.
Strict conditions have been imposed on the pubs to stop drunken loutish behaviour. Drink specials will not be available during the games, there can be no live entertainment, and light food and non-alcoholic drinks must be available.
For the fans that leave during the late-night match they will not be allowed to re-enter the pub.
|WATERING HOLES WITH EXTENDED HOURS DURING THE SOCCER WORLD CUP
||The Deen, Northbridge
|Bally’s Bar, Ballajurs
||Durty Nelly’s, Perth
|Elephant & Wheelbarrow, Northbridge
||Rosie O’Grady’s, Northbridge
|The Mustang bar, Northbridge
||The Waterfront, Mindaire
|Woodvale Tavern, Woodvale
||Albion Hotel, Cottesloe
|Leederville Hotel, Leederville
||Paddington Alehouse, Mt Hawthorn
|Rosie O’Grady’s, Freemantle
||Windsor Hotel, South Perth
|Woodbridge Hotel, Guildford
||Royal Perth Yacht Club, Crawley
|Greenwood Hotel, Greenwood
||Harbourside Hotel, Freemantle
Source – Sunday Times – 4th June 2006
June 10, 2006 22:03 – Bid to Overcome Perth’s Land Shortage
In order to prevent the chronic land shortage in Perth, Planning and Infrastructure Minister Alannah MacTiernan wants developers to impose restrictions such as buy-back provisions on sales of new land.
Investors may be forced to build on the land or else sell it back to the developers at the price they paid for it. It is hoped that this would stop the short term investors making fat profits as they buy blocks of land just to sit on them, selling them on later to make a fat profit.
The Minister believes that tradesmen using inside information about the building industry are leading a growing band of speculators who are forcing up land prices.
Developers and builder are in agreement something needs to be done to crack down on the speculators and are considering options to boost the chances of genuine homebuyers buying blocks.
Satterley and other big developers have put ballot systems in place limiting speculators from buying large pockets of land. For example Peet asked buyers at its Lakelands estate near Mandurah to sign declarations that they intended to build and live on the lot when they went on sale last week. Those who did not sign could not buy. They will be using the same system at the release of the next release of lots at its Wellard subdivision.
Source: Lee-Anne Petchell – Western Australian Saturday 10th June
June 14, 2006 13:28 – If you are a Brit lookingto Holiday or Migrate to Aussie Land now is a good time to buy those Aussie Dollars
Just happened to noticed that the British Pound/Aussie Dollars exchange rate is sitting at 2.49, a high based on the last six months.
||(21 days average)
||(19 days average)
||(23 days average)
||(20 days average)
||(23 days average)
||(9 days average)
So if you are in the progress of migrating to Australia now is a good time to buy. If you are still waiting for the sale of your UK home before you have the cash then don’t worry. If you have funds available to cover the deposit you could always put a forward contract in place.
A forward contract will allow you to lock in the exchange rate immediately. Payment can be made at a later date when the funds are exchanged. They are a good way to reduce your exchange rate risk because once the contract is secured the rate is fixed.