FTBs moving abroad to buy, says National Homebuyers

One in six first-time buyers (FTBs) would consider moving abroad in order to get onto the housing ladder

[UKPRwire, Wed Nov 21 2007] Research by Abbey shows that 16 per cent are prepared to relocate to a different country as affordability constraints take hold.

High interest rates, tightening lending criteria and rising costs such as stamp duty are all having an effect on FTBs and it seems that many are now looking at moving abroad so that they can buy a house.

It is bad news if you are searching for someone to buy your property in this country, particularly with Rightmove recently reporting that house prices fell by 0.7 per cent between October and November.

Fast property sale expert Julian King of National Homebuyers says, "The lack of buyers in the UK is further blow for UK homeowners.

"Those looking to sell property quickly will be met by a lack of available buyers, which in turn will force property prices down further".

Mr King is a director of National Homebuyers, the UK's leading quick house sale property company.

"It's interesting to see the lengths that people are prepared to go to for their first property," said Nici Audhlam-Gardiner from Abbey.

"It can be more difficult these days to become established on the property ladder than it has been for previous generations," she added.

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