Returning kiwis not investing in property

[MotherBear]

Returning Kiwis avoid property
Page 1 of 2 ...... 5:00AM Sunday March 30, 2008
By Gill South

Kiwis coming home are refusing to put their hard-earned British pounds into the local housing market, says a leading international recruitment agency working with top executives coming back from the UK.

"Returnees are no longer rushing into a house purchase, and are happy to wait for the market to find a new level and the kiwi to weaken," says Richard Manthel, local managing director of finance and management recruitment firm Robert Walters.

With 5000 ex-pats on his database, Manthel is hearing this message loud and clear at information seminars in London run for returning Kiwis and potential migrants.

The New Zealand dollar, at its current levels, is giving a lot of angst to Kiwis working in the UK and wanting to come back, he says.

More here .

[Ginabridget]

This is very true for me, I'm going to keep my money earning interest in the UK and rent when we're in NZ, we're worked it out and it's just not worth moving money on the current exchange rate, at least not until the NZ property market has bottomed out. Hopefully the interest earned in UK with pay for our rent in NZ, if it doesn't we'll probably stick a caravan on my family's lawn and live like that for a while. Hopefully if I'm living that close to my mother she might offer some baby-sitting services

It does feel very odd stepping completely off the property ladder though, I'm going to have to do some serious mental adjusting to get used to that one.