Euro exchange rate 'makes Australia more attractive'

Australia has become a more popular location for Britons seeking to buy property due to a more favourable exchange rate with sterling, it has been stated.

A survey by Foreign Currency Direct has found that those moving down under enjoy a much lower cost of living than in other popular countries for overseas buyers.

Chief executive of the money exchange firm Peter Ellis said exchange rates between the pound and the Australia and New Zealand dollars have been "remarkably stable" in recent months.

"Coupled with an overall lower cost of living and the promise of sun, sea and scenery, Australia and New Zealand are becoming increasingly attractive destinations for British expats," he commented.

Earlier this week, Australia's central bank announced that it had decided not to cut its main interest rate, something that may help maintain the stability of the dollar's value.
 

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