Brits Fleeing Abroad – and Buying Property There – Due to Rising Crime Back Home
The rise in yob culture, crime and the cost of living are the driving factors in Brits buying property and moving abroad, according to research published today.
The report by Foreign Currency Direct is based on research undertaken during February 2008 by YouGov, involving a representative sample of 2,000 people. Their views and reasons for moving abroad have been compared with similar research conducted in June 2007 and have produced surprising results.
Nearly four in 10 people (35%) in the UK are currently considering a foreign property purchase in the next 12 months. When these figures are broken down, 50% of them are women - compared to just 21% of men. 33% of these people said they’re keen to move abroad permanently to get away from the crime and yob culture in the UK. When asked the same question last year, only 4% of people mentioned crime and yob culture as a reason for moving.
Coming so soon after MP Jacqui Smith’s comment about the lack of safety on the streets of London and the seemingly increase in crime in the country, the research suggests it could be true that women are feeling unsafe amidst the current crime climate in the UK and this could be the reason why so many more women than men want to move abroad.
More than one in three people said that the high cost of living in Britain is a big factor for them. This figure has increased by over 10% since last year.
But, as has been the case for a while, the gloomy weather in the UK is still an issue for some people and 31% said they plan to move abroad to have better weather. Other reasons cited by respondents include:
- Investment opportunities (29%)
- High UK taxes (25%)
- Not being able to afford a second property in the UK (23%)
- Not being able to afford a first property in the UK (14%). This figure rose to a massive 77% for people aged between 18 and 24.
- The opportunity of better jobs overseas (4%)
- Inspiration from overseas property television programmes (7%).
Commenting on the findings, Peter S Ellis, CEO of Foreign Currency Direct, said, “With the rising cost of living and crime becoming a bigger concern for Brits, it seems that many of us are seeking refuge abroad. Buying property overseas is still an excellent investment and a great opportunity for a better quality of life.”
