Economic factors ''spur overseas moves''


Thu 4th Oct, 11:59:06 BST

Recent economic uncertainty and rising house prices are encouraging people to consider moving abroad, it has been claimed.

Foreign exchange firm HiFX said 16 million people are currently considering emigrating in order to escape the financial pressures, with 23 per cent of them admitting that it was a struggle to meet their mortgage repayments every month.

According to the survey, Australia, Canada and Cyprus are the three most popular destinations for Brits heading overseas to start a new life.

Mark Bodega, director at HiFX commented: "While moving overseas has long been a tradition for those seeking sunnier climes, a different career path or a peaceful retirement, it would now seems that more and more people are no longer considering emigration as a luxury but a necessity."

He added that those considering a move abroad should "do their homework" before making any firm decisions to ensure they do not lose out financially.

Last month, Nationwide suggested that the UK housing market is beginning to cool, something which could make it easier for buyers to get onto the first rung of the property ladder.ADNFCR-1143-ID-18304732-ADNFCR


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