First Time Buyers Look Overseas

A recent Study by National Savings & Investments found has found that first-time buyers are giving up the idea of owning property at home and looking overseas instead. The results show that:

• 84 per cent of 18 to 24-year-olds believe buying abroad is a more viable option than buying in Britain.
• 36 per cent of aspiring first-time buyers renting in London would consider buying abroad.
• Of those, 43 per cent consider Spain the most attractive option for ease of travel.
• Those looking abroad to buy-to-let also like France, Italy, Portugal and the US.

Talking to the Daily Mail ,Justin Figgins, head of RightmoveOverseas, said: "Young people buying abroad and renting in Britain are a growing phenomenon. They generally look at spending less than £200,000."

Research by Barclays Bank reveals the number of Britons keen to buy property abroad has doubled to 18,000 in a year