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Oz still attracts expats - 26 June 2008

As the credit crunch threatens to spread into a more serious economic downturn across the whole of the UK, the number of Brits looking to move overseas permanently is continuing to rise. Many people see economic or social problems in the UK as the perfect cue to make the move overseas and a recent report has shown a surge in interest in Australia.

Removals firm Allied Pickfords has revealed that more people than ever before are looking to leave the UK for good, and that Australia is the most popular destination. This puts it ahead of some of the other popular migration destinations such as Spain and Cyprus.

A spokesman for the firm said that Australia remained a ‘firm favourite’ for British expats, but that people were prepared to live in ‘all parts of the globe’. Additional figures from the company show that Australian cities are the most attractive destinations for expat buyers, with Perth, Sydney, Melbourne and Brisbane the most popular.

In addition to this, figures for currency broker HiFX have shown that a ten per cent jump in enquiries about Australia occurred in April, while another money expert has suggested that greater personal wealth in the UK is behind much of the migration out of the country.

According to Saga Travel Money, equity in the properties owned by the over-50s is allowing people more freedom of choice in where they retire and the opportunity to fulfill long-held ambitions of living overseas. Lisa Harris from the company said, “Many people sell houses in the UK which gives them the funds they require to buy a property abroad”.

She also told propertyshowrooms.com that the rising cost of living in the UK is prompting retirees to consider overseas destinations as a permanent base.

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