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Brits look abroad for affordable housing

Posted on 5 Nov at 7 AM Tags: Property, Moving To New Zealand,

Disillusioned Brits desperate to get on the housing ladder would consider moving to countries like New Zealand if it meant they could afford their first property, according to a recent survey. The research, conducted by comparison website Gocompare, shows that a fifth would consider a move overseas. The most popular destination is the US with 31 per cent of those polled saying they could live on the other side of the Atlantic.

Australia was the second most popular drawing 29 per cent of the votes and 20 per cent said they would choose to relocate to New Zealand. The survey also found that the most likely to move were Brits between the ages of 18 and 24. Mortgages spokesman, Matt Sanders, said it came as no surprise that people in the UK were considering taking some rather drastic steps to get onto the property ladder as the property market is becoming increasingly closed off to first time buyers.

Other options being considered by cash-strapped house-hunters include buying with friends, purchasing a micro-home, moving into a park home or static caravan and moving in with parents or other family members.

Sanders said that whatever the option a qualified mortgage broker should be consulted to give impartial advice.

The NZD exchange rates on 05/11/2014 were as follows: GBP NZD = 2.0697, EUR NZD = 1.6177, USD NZD = 1.2965, AUD NZD = 1.1122, CHF NZD = 1.3441, INR NZD = 0.0211, AED NZD = 0.3533, MXN NZD = 0.0955, CAD NZD = 1.1378, ZAR NZD = 0.1163, RUB NZD = 0.029, . See today's New Zealand Dollar Exchange Rate
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