Britons 'seeking dream homes in Australia'

Australia has emerged as the new location of choice for Britons naming their dream home.

Insurer Legal & General's Home Sweet Home survey found that only 15 per cent of Britons are currently living in their dream home and for over a quarter (27 per cent) their ideal residence would be overseas.

The survey found that of those looking to move abroad, the most popular country to live in would be Australia, picked by one in five.

This replaced the USA, which came top of the list last year on 17 per cent.

News of the British desire to buy down under was also reported this week by Malaysian news provider Star Biz.

In an article on Australian property investment, it quoted an agent from real estate firm LJ Hooker stating that the "bulk" of overseas buyers of Australian property are from the UK.

The agent also said that extra state aid for first-time buyers and lower stamp taxes for off-plan buyers made Victoria the best state to purchase in.