First time buyers 'would consider' moving abroad

12-Mar-2007

One in four Britons (25 per cent) would consider a move abroad in order to raise enough funds to become first time buyers, research shows.

According to the results of a survey by National Savings & Investments (NS&I), of the would-be first time buyers willing to move abroad, 36 per cent of 25 - 34-year-olds confirmed they would be willing to relocate, in addition to 32 per cent between the ages of 35 and 44.

Of those who were willing to leave, Spain was the most popular location at 43 per cent, although Australia or New Zealand was also popular at 33 per cent.

"British people clearly have a great appetite for buying a property in this country but find it difficult to save for a deposit while living here," said Dax Harkins, senior savings strategist at NS&I.

"It seems many will go to extreme lengths to achieve their goal," he added.

As part of the NS&I Quarterly Savings Survey, over 1,000 were asked to respond.

To find out about the different ways of financing a first home, see our section ‘Affording Your First Home’.

NS&I offers a range of financial services and products, including cash mini individual savings accounts and income bonds.

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