The Australian Dollar has fallen to AUD 1.00 = GBP 0.49, the lowest in 7 years. While this sounds negative for the most part, there are a number of consumer-friendly sides to it. Most importantly, the value of many imported commercial goods have suddenly dropped in value relative to the pound. Now there are numerous products and services that are more affordable in Australia than in the UK.
How can we say Australian products are more affordable when their prices remain unchanged? Think of it in terms of imports. In the past, $1.60 bought 1 British pound's worth of imported material. Now, you need $2.03 to buy the same amount.
Imports brought in to Australia at the earlier price are cheaper than imports brought in today. Stores which still have the old stock are likely still selling them at the same price. Very soon, as newer and newer stocks come in, imports will become more and more expensive as the prices catch up. At the moment, you are seeing the best prices on certain imported goods.
Any electronics bought and stocked before the drop in the dollar are sure to keep their old prices. This is most true for Apple products, so now is the perfect time to invest. If you want a Macbook Air with the higher capacity storage (256 GB), you will spend $1,849 in Australia. In the UK, you would be spending $2,030 — a difference of $181. Since Apple does its best to keep prices level across the globe, this is an obvious contrast.
In the United Kingdom, as petrol prices continue to fluctuate (and usually fall) a litre of petrol costs a whopping $2.08. In Australia, petrol is only $1.11 per litre on average. Of course, the prices differ per state and region. Generally, Australians are paying $0.97 less per litre than the British. This is an advantage so long as the petrol stocks last; new imports are sure to be more expensive.
Interestingly enough, "better value for your dollar" applies to event tickets (concerts, sports tickets) as well. The number of Australian dollars paid to bring in international artists is much lower than would have been paid now. For one, according to the Queen of Tickets, the famous British girl group Little Mix is performing in Australia for a maximum of $199 per ticket. However, in the UK, Little Mix is performing for $221 per ticket. The Australians have the current ticket price advantage.
Eventually and inevitably, prices will catch up with the falling dollar. The price of imported goods will rise, and the values of petrol, electronics (particularly Apple products) and event tickets will even out with the global average. However, at this moment, the best time to buy imported goods is right now.