A quarter of young Brits are considering buying an overseas property to try and enter the domestic housing market.
So a new survey by National Savings and Investments states. It highlights first time buyers looking even in Australia or New Zealand in order to help them to save a deposit for a UK property.
When respondents were asked where they would place their investment in terms of interest in overseas property, Spain was mentioned by 43%, Australia or New Zealand by a third and the USA by 22%.
A fifth of first time buyers are looking to maximise upon the growth potential of purchasing an Eastern European property.
Brits would love to buy a property in the UK, however, are finding it very difficult to save for a deposit whilst living here.
It appears that they would even go to another side of the world to accomplish their goal, that is, to save enough for a deposit back home.
A quarter of first time buyers wish to move abroad, with more people wishing to move abroad than to another area in Britain.
Just 24% of would be first time buyers would be happy to move to a less expensive part of this country to get a foot onto the property ladder.
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Britons Consider Overseas Property
Mon, 12 Mar 2007
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