Record number of fed-up Brits plan to flee to warmer climates

13 April 2012

Record numbers of people aged between 30 and 50 want to escape Britain because they are fed up with their current lifestyles.

Nearly three-quarters who would consider buying a home abroad said they want to make the move permanently - not just for holidays and long weekends.

See also...

•Case study: 'I just don't see the reason to live in London anymore'

•Case study: We will move abroad for a life in the sun away from the rat race

The shocking findings reveal an extraordinary level of dissatisfaction among young and middle-aged people with their lives in this country.

Many are stressed out by their hectic working lives and struggle to afford buying a decent home.

And as the days get shorter and their household bills get bigger, record numbers are plotting their escape.

The research, from the bank NatWest International, asked more than 2,600 people whether they would consider buying abroad.

About a third said that they already own a home overseas, or are seriously considering buying one.

But the most startling finding was that, of this number, three in four people aged 30 to 50 said they are thinking of making the move permanently.

They are fed up with the 'current UK lifestyle', and say they prefer the way of life in foreign countries, particularly Spain, that they have seen while on holiday.

The weather is better; the homes are cheaper than Britain where the average price is nearly £170,000 and they can get a cheap flight home, if they need to.

They have also been frightened by the constant warnings about an impoverished retirement unless they start saving more money into a pension.

They hope that a new life in a foreign country would be cheaper, more relaxed and more enjoyable.

Mike Freer, head of business development at NatWest International, said: 'Many Brits intend to escape the hectic British lifestyle to enjoy a more relaxed standard of living overseas.

'As the days get shorter and temperatures drop, now is the time when many dream of a life abroad.'

More than half said that Spain would be their number one choice for starting a new life abroad. Other popular destinations are France and Italy.

Around 500,000 Britons already own villas or flats overseas, with some villages in Spain now dominated by UK couples escaping this country.

He said: 'They are tempted by the great weather and the relaxed 'manana' lifestyle'.

One of the biggest reasons to escape is that house prices are so much cheaper almost anywhere in the world other than Britain.

For the price of a terraced home in a typical English town, they could buy a large villa with swimming pool and a good view in Spain.

Of the people who had bought a home overseas, more than half paid less than £100,000 for their property.

In this country, £100,000 is less than the average asking price in any part of England. Even the North, which is the cheapest, is nearly £150,000.

Only a fifth of Britons with Spanish homes paid more than £200,000. Official figures show nearly 260,000 people own a second home.

The largest number is outside Europe and America, with nearly 75,000 Britons owning homes in countries such as Australia, India and Pakistan.

In this country, many second home owners have a home in London, Manchester or Birmingham where they live during the week. But their family lives in a larger home in the countryside.

About one in four second homes are in the South West, which includes popular Cornwall, Devon and Dorset.

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