We are looking to come to Oz as soon as the sale of our house goes through.We are not going to make a lot of money from the sale, due to current house prices. This means when we retire we are likly to be in rented accommodation, which we will have to afford out of our state pension. Tricky, does anyone know if others are in the same position and managing. Thank you.
Big Henry

 

Rental prices vary quite a lot dependant on what suburb you settle in. Realestate.com is a good guide to prices and availability. Im not sure what amount your pension is but rentals seem to be around $350 pr week upwards if it helps you as a guide.

Cal x

 

Hi,

Welcome to LIQ, As Cal has said it will depend where you intend to settle, prices can vary a great deal depending on the area selected. Two Years ago I rented at Godwin Beach and paid $175 a week for a 3 bedroom apartment on the sea front Upper floor on a two story building. Ten mins away on Bribie Island the rents averaged $300 a week for similar properties. I think you should try looking on the real estate sites (Cal has suggested a good one) and try to find something around 25% of your joint incomes.

One major thing to remember is that if you are retiring to Australia on a UK state pension it does not increase while you are here. Whatever your pension is on the day you arrive that is the maximum it will ever be paid to you whilst you are in Australia. So you must consider the fact that the exchange rate can have a big impact on your pension payments and with inflation the cost of rental will rise while your pension will remain static.

You may find this post from out parent site interesting,, http://www.pomsinoz.com/forum/money-finance/143709-uk-frozen-aged-pension.html

I hope it all works out for you

 

Thank you

Thank you for taking the time to answer my question information was really useful.A lot to think about.