New research has suggested that many first-time buyers could be looking to buy property in Australia.
Posted by Steve Douglas
As young house buyers struggle to save sufficiently large amounts for a deposit on their first property, many would-be homeowners are turning to rental options, though recent findings suggest they could consider buying property in Australia.
Research from foreign exchange firm Moneycorp has revealed that seven out of ten people who had previously been saving for their first home have now cast their plans aside due to the UK market's high rates.
One in four of those quizzed had claimed that they would consider buying property overseas, in the hope that their money would go further, with plans to rent the property out and sell if for a profit in the future.
David Kerns, a manager at the firm, said: "First-time buyers are still considering investing in overseas property at the moment due in part to the high costs of UK housing, which has recovered over 12 per cent since the lows seen in 2008."
Moneycorp's study also found that buying property in Australia was the most popular option, with France and Spain taking runners-up positions.
Posted by Steve Douglas
As young house buyers struggle to save sufficiently large amounts for a deposit on their first property, many would-be homeowners are turning to rental options, though recent findings suggest they could consider buying property in Australia.
Research from foreign exchange firm Moneycorp has revealed that seven out of ten people who had previously been saving for their first home have now cast their plans aside due to the UK market's high rates.
One in four of those quizzed had claimed that they would consider buying property overseas, in the hope that their money would go further, with plans to rent the property out and sell if for a profit in the future.
David Kerns, a manager at the firm, said: "First-time buyers are still considering investing in overseas property at the moment due in part to the high costs of UK housing, which has recovered over 12 per cent since the lows seen in 2008."
Moneycorp's study also found that buying property in Australia was the most popular option, with France and Spain taking runners-up positions.
