Interest in homes down under soars
Tuesday, 17 Apr 2007 09:24
Interest in Australian homes has tripled since December 2006
Overseas property buyers' interest for homes in Australia and New Zealand has soared, new research shows.
In its latest monthly overseas property survey, currency specialist HIFX finds Australia and New Zealand are in the top five locations Brits want to buy in, in fourth and fifth place respectively.
Australia received six per cent of all overseas property buying enquiries in March, and New Zealand accounted for five per cent.
Though the countries are a long way behind favourites France and Spain, which received 27 and 25 per cent of buyer enquiries respectively, they are catching up with third favourite Bulgaria, which dropped to eight per cent of buyer enquiries in March.
"We often see an uplift in the number of emigration enquiries around this time of year as people emerge from the British winter and are keen to realise their dreams of a new life abroad before the year is out. This month we have seen an increasing number of enquires for the ever popular emigration destinations of Canada, Australia and New Zealand," Mark Bodega from HIFX commented.
"With a typical three-bedroom detached property in New Zealand costing £100,000, no stamp duty or capital gains tax and year-on-year capital appreciation of between ten to 15 per cent, it's easy to see why so many of us are upping sticks and moving out there for good. A paradise for lovers of the great outdoors, the lifestyle on offer is healthy, fun, and affordable."
The HIFX survey also finds there has been no interest in property in South Africa for several months running.
"We have seen a lot of fluctuation in the South African rand recently and coupled with ever increasing airfares this could be making South Africa seem like a tricky destination for both people looking to emigrate and those just after a holiday home," Mr Bodega explained.
Top overseas property hotspots
1 - France (27 per cent of enquiries)
2 - Spain (25 per cent of enquiries)
3 - Bulgaria (8 per cent of enquiries)
4 - Australia (6 per cent of enquiries)
5 - New Zealand (5 per cent of enquiries)
6 - Canada (3 per cent of enquiries)
7 - Cape Verde (3 per cent of enquiries)
8 - Cyprus (2 per cent of enquiries)
9 - Morocco (2 per cent of enquiries)
10 - Turkey (2 per cent of enquiries)
11 - UAE (2 per cent of enquiries)
12 - USA (2 per cent of enquiries)