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Weak sterling means 'Brits missing out on Aussie property boom'

17

Mar

2010

 HiFX News@ 12:00 AM

Experts have claimed that Australia's property market can offer "exceptional opportunities" for investors.

However, Britons may lose out due to poor foreign exchange rates between the Australian dollar and sterling.

Martin Hession of Australian Unity Investments claimed that a recovering economic climate and increased interest from overseas were combining to boost the Australian property market.

But Marc Da-Silva, a property journalist, highlighted in a recent interview that Britons were unlikely to benefit from the growing market.

"The pound has fallen quite a lot against the Australian dollar," said Mr Da-Silva, adding that this would lead to high costs for Brits looking to invest in the country.

RP Data-Rismark revealed that house prices in Australia grew by 2.4 per cent in the fourth quarter of 2009, confirming the growth trend.

Britons who are determined to move 'down under' could keep their costs low by using a foreign exchange broker to make an international money transfer.

Click here to make an International Money transfer

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Poor foreign exchange rates add to expat pension woes

17

Mar

2010

 HiFX News@ 12:00 AM

Around half a million Britons who have retired abroad are facing serious shortfalls in their state pensions.

Brits who have retired to certain countries outside of the European Economic Area could be living off just £6 a week because current laws mean that the UK government does not need to make all pensions inflation-proof.

Unfortunately, efforts to change these laws were knocked back today (March 17th) as the European Court of Human Rights rejected an appeal to bring all pensions into line with inflation.

Poor currency exchange values on sterling have added to the decline in the worth of the payouts for people living in countries including Australia and Canada.

Michelle Mitchell, Age Concern and Help the Aged charity director, commented: "This ruling is bad news for half a million pensioners whose only fault is to retire to the 'wrong' country in the international postcode lottery of pensions up-rating.

"It's hugely unfair that people who have made their National Insurance contributions all their lives in the UK are being penalised for retiring abroad."

She added that an increase in-line with inflation would have eased things for those "hit by the recession and a weak pound".

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Avoiding agents 'could finance move abroad'

16

Mar

2010

 HiFX News@ 12:00 AM

A website has suggested that people looking to buy overseas property could finance their move abroad by saving money on the sale of their UK home.

Expatriate advice website Shelter Offshore suggested that people considering moving abroad could save thousands by selling their UK home themselves.

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Foreign investment in French property 'growing'

16

Mar

2010

 HiFX News@ 12:00 AM

The results of a recent property survey suggest that international money transfers to France are on the rise.

According to the report from Jones Lang LaSalle, the last quarter of 2009 saw foreign investment in the French property market almost double against figures from the third quarter.

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Low sterling exchange rate 'to continue'

15

Mar

2010

 HiFX News@ 12:00 AM

Analysts have predicted that sterling will continue to see a low rate of currency exchange.

Kornelius Purps, fixed income director at Unicredit, told the Daily Telegraph that sterling will continue to face difficulties as the UK struggles to recover from the recession.

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