Australia attracts British migrants

Migrants from the UK are increasingly choosing to set up home in the southern hemisphere, according to a new study.

Research by HiFX revealed that interest in buying property in traditional hotspots such as France and Spain has waned over the last few months.

This was largely attributed to the less than favourable exchange rates with the UK, as the pound is currently at a record low against the euro.

Instead, Britons are increasingly opting to set up home in places such as Australia, a country which has recently seen a surge in the amount of interest from Britons.

Mark Bodega, director of HiFX, commented: "Thoughts of moving to a new life overseas continue to burn strongly within much of the UK population."

According to the Real Estate Institute of Australia, Britons are the third-largest group of foreign property buyers in the country, reports Homes Overseas magazine.