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Volatile UK market sees buyers head to France
23/10/2007

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Volatile UK market sees buyers head to France

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Overseas property becoming attractiveFirst-time buyers are finding getting on to the property ladder so difficult that they are turning to other countries such as France to invest.

The UK's volatile market has seen many young homebuyers decide against putting their money into a property on home soil and instead head overseas.

Ben Sanders, spokesperson for french-property.com, said that older people are also increasingly looking to invest in places other than the UK where prices are now at a record high.

He added that "traditionally it has been people of retirement age or approaching retirement age" but that more recently he had seen a trend emerging of younger people looking for property to buy.

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"People are very much drawn to the culture in France, rather than in Spain where people are just drawn to the sunshine."

According to figures from Shelter Offshore 350,000 people permanently leave the UK each year to seek cheaper less tumultuous markets.

Julian King of National Homebuyers adds, "Selling your house quickly so you can get your French residence is difficult.

"The UK market is experiencing two problems currently, a reduction in the value of properties and a longer length of time to sell each property"

"First time buyers looking to invest abroad should be reminded that every property market can experience problems, particularly in countries where the economy is not particularly robust".

Mr King is a director of National Homebuyers, the UK's leading quick house sale company that assists thousands of homeowners with a fast property sale or a Sell and Rent Back solution.

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