Moving back to the UK

markthomas0

I'm currently living in Australia but am planning to move back to the UK in the next couple of years. We've managed to save $150,000 whilst here which we'd like to move back to the UK with to buy a house. My question is should i do that now or wait until we move?? Things are slowing down here and seem to be picking up in the UK so should i shift all my money over now or half or none and wait and see?? If i move it then where should i put it????

I'm very confused so if anyone who can suggest a suitable plan then i'd be greatly appreciative!!

Thanks

Mark

bigadaj

I suppose its a two or three part question.

In terms of the wider economy then things seem to have slowed down a lot in the last year in oz though my experience is mining and engineering which has been harder hit than other areas. So in that comparison then the uk seems to be picking up a bit after five years but certainly isn't booming.

Second question is I suppose exchange rate, Aussie dollar has weakened a lot in the past few months but is still at historically high rates, I'd be tempted to switch back into sterling but no one really knows, and at least you seem to be able to get a slightly decent interest rate out there,a s it's very difficult to get even 2% here. I might like to see if your Aussie bank might have sterling savings accounts.

Last point woud, be house prices, they're showing moderate increases in the uk though it is very sensitive dependent on where you are in the country. No sign of interst rates rising, though the giver meets funding for lending is starting to be withdrawn, so my guess would be flat to moderate increases here.

Totton

Wish we could swap places and move out to Oz :-) Currency is a specialist area and who knows where exchange rates will be in a years time etc, If unsure why not switch half to the UK and keep half in AUS$, a sort of hedge.

Thrugelmir

Interest rates are very low here. Not going to pick up for a while either!