australia is top destination for retiring brits
News Posted On: 04 December 2008
A recent study revealed that Australia is the top destination for UK residents looking to retire in the sun.
Older overseas property buyers looking for a lifestyle purchase may be interested to know that 250,000 British state pensions are paid into bank accounts held down under.
It is ahead of Canada, the US and Spain in terms of popularity for Britons looking to enjoy a high quality of life in their retirement.
The numbers could continue to increase, as a recent Scottish Widows survey revealed that one-third of UK adults would consider moving abroad once they retired.
Britain's cold climate and the spiralling costs of food, energy and fuel were all cited as reasons for this.
George Glen of Sunworld Estates told the Herald: "The main things I hear are that people are looking for a better climate and also, the state of Britain at the moment does play a part."
Those looking to invest in an Australian property and potentially move their later in life may be encouraged to learn that house prices in the country increased 0.3 per cent in the three months leading up to October, according to the RP Data-Rismark Hedonic Property Value Index.
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