Some general $$ advice that I've paid for by UK/Oz specialists.
General consensus is that the Oz dollar in relation to pound will drop back over time, to the historic average of above 2 A$ to 1 £
Set against UK property prices you'll find oz housing not particularly cheap.
Having just moved our UK pensions over to oz there is one point worth mentioning in relation to the exchange rate... it is now possible to transfer a UK pension pot and hold it in cash sterling within an ozzie self managed fund and or invest in equities in sterling within the fund, whilst you wait for the pound to recover.
A point worth noting in respect to UK property investments, it is possible to buy a property abroad and hold it in an oz super fund. When you retire it can be withdrawn from the fund and you can live in it.
For those not already asleep...Oz super is not taxed as income if you draw on funds when you are over sixty.
Any yearly growth in the fund is taxed at 15%.
Mickjoebill