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Brits looking to move abroad

News brought to you by Skint Tariffs. Providers of price comparison for cheap international calls.

Lots more Brits than in the past are looking to move abroad as the credit crunch takes hold in the UK, a new survey has indicated.

The economic slowdown is pushing more and more people into the overseas market, according to research from Cater Allen Private Bank.

More than three million people are expected to buy property abroad in the next three years, leaving friends and relatives back in the UK needing to make low cost international calls to stay in touch with them.

There are already 2.3 million Brits living in other countries, and, as the stability of the housing market cannot be guaranteed, more are forecast to join the exodus.

Steve Dawkins, managing director of Real Estate, commented: "British buyers are becoming increasingly disillusioned with the market here in the UK and this has the knock-on effect of turning their thoughts to buying abroad instead.

"Overseas bargains become more appealing at times like this and people are beginning to realise that there is investment potential out there, it just may not currently be on their doorstep."

House prices dropped in the UK by 1.7 per cent last month, figures have revealed.

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