Tips for settling down in OZ

[kingat33]

Interest rate can only be increased gradually without causing great stress to the home loan market. Can you imagine the catastrophic scenario if it is increased by 5% (on top of the current 3.5%).. everyone will be a bankrupt !! This will bring property prices down but can ppl afford to buy ?

Kevin Rudd strategy cannot please all parties.. He is interested in short term measures to resolve the affordability of 1st home buyers.. by giving away money during the interim will solve the on-going property prices? No. In short, Kevin Rudd fulfill (part) the 1st homer's dreams, inevitably this increases the demand for properties.

However, relaxation on town planning guidelines and pro-development will fulfill the appetite of property buyers.. Sadly we have heaps of ppl objecting to developments and Councils are highly inefficient in dealing with the approval. These lead to poor supply.



Well axe, I agree in general with what u have said but the unusual way of propping property price in Oz is coming to an end. Even RBA chief remarked a couple of days ago that he is bewildered by the high property price given the land size in Oz and the relatively small population. This would indicate his determination in bringing down prices by increasing interest rate not gradually but agressively. Not forget when he cut interest rate, he did it agressively so do not be caught by surprise if he were to increase it that way. There are also talks in the market that instead of OZ having undersupply of property, the truth is we have oversupply but the way RBA calculate makes it look otherwise, the same goes for the unemployment rate. If someone is not actively looking for work, he is not deem as unemployed. Does that make sense, of course not. The media in Oz cannot be taken at face value due to vested interest and this is all due to me having lived in Oz for a number of years. For more details, maybe u can check it out moneymorning australia.com.au and they are the one telling like what it is. No censorship and no distortion. I rest my case but still maintain that cash is still king in addition to gold and stocks (some element of risk though) but definetely not property at this stage. Will talk again by mid of next year and we will know whether property price will continue to hold up or face a major correction. Cheers and have a nice day!

 

[neddy]

Interest rate can only be increased gradually without causing great stress to the home loan market. Can you imagine the catastrophic scenario if it is increased by 5% (on top of the current 3.5%).. everyone will be a bankrupt !! This will bring property prices down but can ppl afford to buy ?

Kevin Rudd strategy cannot please all parties.. He is interested in short term measures to resolve the affordability of 1st home buyers.. by giving away money during the interim will solve the on-going property prices? No. In short, Kevin Rudd fulfill (part) the 1st homer's dreams, inevitably this increases the demand for properties.

However, relaxation on town planning guidelines and pro-development will fulfill the appetite of property buyers.. Sadly we have heaps of ppl objecting to developments and Councils are highly inefficient in dealing with the approval. These lead to poor supply.



Well axe, I agree in general with what u have said but the unusual way of propping property price in Oz is coming to an end. Even RBA chief remarked a couple of days ago that he is bewildered by the high property price given the land size in Oz and the relatively small population. This would indicate his determination in bringing down prices by increasing interest rate not gradually but agressively. Not forget when he cut interest rate, he did it agressively so do not be caught by surprise if he were to increase it that way. There are also talks in the market that instead of OZ having undersupply of property, the truth is we have oversupply but the way RBA calculate makes it look otherwise, the same goes for the unemployment rate. If someone is not actively looking for work, he is not deem as unemployed. Does that make sense, of course not. The media in Oz cannot be taken at face value due to vested interest and this is all due to me having lived in Oz for a number of years. For more details, maybe u can check it out moneymorning australia.com.au and they are the one telling like what it is. No censorship and no distortion. I rest my case but still maintain that cash is still king in addition to gold and stocks (some element of risk though) but definetely not property at this stage. Will talk again by mid of next year and we will know whether property price will continue to hold up or face a major correction. Cheers and have a nice day!

Unemployment stats are the most abused figure. I would rather look at the the increase in people getting US social security, AUS centrelink NewStart payments, UK Employment Office queues, etc to countercheck with the unemployment figures.

Basically, Australia has a minor recession but it is not hurting as much. Just because different definition is used to define recession, we can quote this and that and say that we avoided the recession. But just check the electricity and gas/oil usage and we get a different story. Beyond seasonal variations and adjusting for outsourcing, we know that we are producing less. Not a good sign.

Kevin Rudd is scary. He is not a true politican, his babyface should have told us to be wary of him and his self-interest.
His deputy is worst, acting for the worst group of people I have ever come across - left-wing teachers.

John Howard is right about Kevin. And an resigned staff wrote about him preparing for a post-PM business career in Beijing.

VOTE LIBERAL.
I trust Malcolm Turnbill whom I believe will act in national interest once he is in govt.

 

[scroobal]

Good point.

As to delaying for a bargain before moving over, this is a very Sinkie mentality. There's no best time to migrate, the longer u delay, the journey becomes harder and harder, is difficult to time the market but the market won't wait for you (some people let their PR expires and regret later). However, investment in property is a good strategy to have a balanced financial planning else you just work to pay high tax to the gov.

.

 

[kingat33]

Precisly neddy, just look at the recent poll which shows kevin rating drops tremendously which goes to show that people are beginning to see the true colour of him and his deputy. They looked more like business people than leaders who have the welfare of the people. With vested interest in property and most probably stakes in major banks as well, maybe in terms of owning lots of banking shares which resulted in them becoming the biggest property spuikers of all time. When they refused to even address the so-called property shortage issue which they always claimed so as to ignite panic buying but refusing to release more land and red tape for developers. Such hypocrisy will result in them losing the next election and yes, u are absolutely right. Get the figures from centrelink and that's it. It will show the true figure of unemployment and nothing to argue about. My mates in centrelink have told me the real unemployment scenario which is so bad and is increasing that now. they are encouraging people to start their own business so as to get them off from newstart to neis. What a desparate moves by the govt to bring down the unemployment figure.

 

[axe168]

Yes and No.

There will be a correction but don't know when. If u believe the property prics in Oz is seriously overvalued, I suggest to start with renting and consider buying later. There's good bargains out there but those houses are usually far away from city. Like you, I too felt that is not worthy (not just the prices, rising interest rates but also the expensive strata cost) to buy now. I always believe if u don't believe in something then don't follow what everyone else is doing. .

Good point ! Everyone's perspectives are diff.. everyone's contingency is diff too. It will be a disaster simply by following others.. It is better to trust your own instinct..

As for me (& family) we are prepared to uproot again and again.. to chase for opportunity.. we do not rule out returning to SG, if mighty AUD is in our favour... alternatively to Perth.. Moving is such as easy task.. heehee..

 

[axe168]

Interest rate can only be increased gradually without causing great stress to the home loan market. Can you imagine the catastrophic scenario if it is increased by 5% (on top of the current 3.5%).. everyone will be a bankrupt !! This will bring property prices down but can ppl afford to buy ?

Kevin Rudd strategy cannot please all parties.. He is interested in short term measures to resolve the affordability of 1st home buyers.. by giving away money during the interim will solve the on-going property prices? No. In short, Kevin Rudd fulfill (part) the 1st homer's dreams, inevitably this increases the demand for properties.

However, relaxation on town planning guidelines and pro-development will fulfill the appetite of property buyers.. Sadly we have heaps of ppl objecting to developments and Councils are highly inefficient in dealing with the approval. These lead to poor supply.



Well axe, I agree in general with what u have said but the unusual way of propping property price in Oz is coming to an end. Even RBA chief remarked a couple of days ago that he is bewildered by the high property price given the land size in Oz and the relatively small population. This would indicate his determination in bringing down prices by increasing interest rate not gradually but agressively. Not forget when he cut interest rate, he did it agressively so do not be caught by surprise if he were to increase it that way. There are also talks in the market that instead of OZ having undersupply of property, the truth is we have oversupply but the way RBA calculate makes it look otherwise, the same goes for the unemployment rate. If someone is not actively looking for work, he is not deem as unemployed. Does that make sense, of course not. The media in Oz cannot be taken at face value due to vested interest and this is all due to me having lived in Oz for a number of years. For more details, maybe u can check it out moneymorning australia.com.au and they are the one telling like what it is. No censorship and no distortion. I rest my case but still maintain that cash is still king in addition to gold and stocks (some element of risk though) but definetely not property at this stage. Will talk again by mid of next year and we will know whether property price will continue to hold up or face a major correction. Cheers and have a nice day!

Appreciate your comments and views. Dont get me wrong, I am refering the prices in the next 5yr or 10yrs.. I am not a short term property trader.. I have a huge stamp duty to break even.. I am happy as long as I can make a gain in the next 5yrs. I haven't got a clue for any short term minor ups or downs.. Nonetheless, I shall meet you here in Jun 2010.

 

[axe168]

VOTE LIBERAL.
I trust Malcolm Turnbill whom I believe will act in national interest once he is in govt.

You are right. I have never seen a politican talk down about the economy so much.. they are simply spending away all the hard earned money accumulated.. These days you have noted unions protests are increasing.. it is scary.. Well it is not too late to change my vote.. Thank God we have a 50-50 system.. I believe in CHANGE.. Change in leadership is a must !

I'll go for Liberal in next election.

 

[kingat33]

To all ex-fellow singaporeans, the bottom line is that all of us managed to emigrate to Oz and to acquired Oz citizenship which is truly the ticket for a real retirement without having to burden our children or deplete our savings as we will have access to pension and healthcare. With strong AUD and the possibility of singapore govt going in the direction of dual citizenship, it may not be a bad idea to go back to singapore and at the same time enjoy the benefits of being an aussie. Lots of aussie pensioners are doing likewise at the moment as many are retiring in europe or south-east asia which makes economical sense in terms of currency conversion and cheaper cost of living. Like what axe said, we are only chasing opportunity as we have the luxury of doing so. Cheers!

 

[scroobal]

Bro, maybe I should start a thread about understanding Oz politics. Both you and Neddy are off tangent in your political analysis.

You are right. I have never seen a politican talk down about the economy so much.. they are simply spending away all the hard earned money accumulated.. These days you have noted unions protests are increasing.. it is scary.. Well it is not too late to change my vote.. Thank God we have a 50-50 system.. I believe in CHANGE.. Change in leadership is a must !

I'll go for Liberal in next election.

 

[scroobal]

Excellent perspective. The world should be one's oyster.

To all ex-fellow singaporeans, the bottom line is that all of us managed to emigrate to Oz and to acquired Oz citizenship which is truly the ticket for a real retirement without having to burden our children or deplete our savings as we will have access to pension and healthcare. With strong AUD and the possibility of singapore govt going in the direction of dual citizenship, it may not be a bad idea to go back to singapore and at the same time enjoy the benefits of being an aussie. Lots of aussie pensioners are doing likewise at the moment as many are retiring in europe or south-east asia which makes economical sense in terms of currency conversion and cheaper cost of living. Like what axe said, we are only chasing opportunity as we have the luxury of doing so. Cheers!

 

[axe168]

Bro, maybe I should start a thread about understanding Oz politics. Both you and Neddy are off tangent in your political analysis.


Oei political aside.. I finally accept your suggestion to have synthetic grass.. I've seen my frz place with the artificial grass ! excellent ! no maintanence.. .. Oops ! we're talking about settling .. includes political and syntheic grass ?

 

[neddy]

Bro, maybe I should start a thread about understanding Oz politics. Both you and Neddy are off tangent in your political analysis.


That will be fantastic. There are too many politicians in Aus.

 

[scroobal]

Bro, you must have mixed me up with someone else. I can't recall suggesting synthetic grass. Anyway bear in mind that it will be very hot to walk on synthetic on a hot day. My preference is real grass - kikuyu or fescue. I like the smell of grass after rain. I am also a garden person.

If synthetic, make sure you get multi-hued variety as it looks real. Single hue will look plastic even for semi blind person.

political aside.. I finally accept your suggestion to have synthetic grass.. I've seen my frz place with the artificial grass ! excellent ! no maintanence.. .. Oops ! we're talking about settling .. includes political and syntheic grass ?

 

[neddy]

Bro, you must have mixed me up with someone else. I can't recall suggesting synthetic grass. Anyway bear in mind that it will be very hot to walk on synthetic on a hot day. My preference is real grass - kikuyu or fescue. I like the smell of grass after rain. I am also a garden person.

If synthetic, make sure you get multi-hued variety as it looks real. Single hue will look plastic even for semi blind person.

I think the best way to use single hue is when you have a small garden and there are step pavers leading from ... say ... a pedestarian gate to the main entrance or from the entrance to the gazebo.

But nothing can stop me getting hayfever. :(

 

[axe168]

I think the best way to use single hue is when you have a small garden and there are step pavers leading from ... say ... a pedestarian gate to the main entrance or from the entrance to the gazebo.

But nothing can stop me getting hayfever. :(

Hmmm.. what is your suggesting for backyard about 200m2 to 300m2 area? single or multi ?

 

[QXD]

Any lobang for a good gardener that can relay my grass lawn?

My lawn is a disaster...I don't even know if it is even grass or just weeds!

Bro, you must have mixed me up with someone else. I can't recall suggesting synthetic grass. Anyway bear in mind that it will be very hot to walk on synthetic on a hot day. My preference is real grass - kikuyu or fescue. I like the smell of grass after rain. I am also a garden person.

If synthetic, make sure you get multi-hued variety as it looks real. Single hue will look plastic even for semi blind person.

 

[scroobal]

No lobang. But here are things you can do.

I hope yours is not buffalo grass which looks similar to Singapore and rest of asia's cow grass with their wide blade. If it is not, you can can get rid of the weeds by getting weed and kill spray or pellet fertilizers. Spread them as desired, then wet them that night ( water the lawn). Within a week, you can see the weeds turning brown while grass turns rich or dark green. Note: Most weed and feed fertilisers and lawn weed removers will kill Buffalo grass.

If the growth is not luxurious or patchy, you might have to water a lot more. Lawns do better if you turn on the water and give it a good drench/soaking. If still patchy, then get a chap to do coring - taking out plugs of earth using a machine to allow air to enter the soil. Aerated soil does very well to give good growth. Mow the lawn but don't cut too short.

You should have a good lawn in a month. Every 3 months, use the same weed and kill and your neighbours will be proud. You will be well known as Chinese will put cement, pavement where grass is. You can always sell town houses to a chinese at a drop of a hat better than any other race.

Any lobang for a good gardener that can relay my grass lawn?

My lawn is a disaster...I don't even know if it is even grass or just weeds!

 

[fishbuff]

Any lobang for a good gardener that can relay my grass lawn?

My lawn is a disaster...I don't even know if it is even grass or just weeds!

concrete the whole place.. not a single blade of grass will grow.

concrete lawn is synonymous with asians and wogs.

 

[scroobal]

Guess what? Plastic lawn is the new in thing with Asians and wogs.

concrete lawn is synonymous with asians and wogs.

 

[neddy]

Additional points on acquiring a home.

1. Avoid properties next to public housing (eg in WA, it is HomeWest)These public housings are not Singapore's type of public housing. The people who live in them - most of the time - are people you won't want to mix around with.

2. Be suspicious if a value-for-money well-appointed property but has been on the market for a long time.A check with the neighbourhood shopowner may reveal that a dark crime may have been committed there before.
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Originally Posted by scroobal
So you have made it to OZ, what next?

Acquiring a Home