There are many attractions to emigrating down under – not least the weather, outdoorsy lifestyle and friendly people. Whilst the majority of people cite an enhanced quality of life as the top reason for moving abroad, the lower cost of living is a vital factor too – after all, the credit crunch is so much more bearable in the sunshine.
There seem to be many more free outdoor activities on offer in Australia than there are here in the UK, such as visiting the beach and picnics outdoors, neither of which will impact your bank balance.
Now, a new survey has found that New Zealand and Australia are the cheapest places to move to for UK expats.
Specialist foreign currency broker Foreign Currency Direct’s latest research reveals that Poms living Down Under” are enjoying a far lower cost of living than Brits who have settled in the other top 10 expat hot spots, which include France and Spain.
The survey compared the cost of essential and non-essential purchases common to a British person living overseas and found the cost of living in New Zealand to be a whopping 33 per cent lower than in the UK.
Australia was not far behind, boasting a cost of living that is 22 per cent lower than in the UK.
The research found that six large free range eggs will set an expat back 84 pence in Australia and 70 pence in New Zealand, which works out around half the price of a similar carton of eggs in the UK (£1.61).
Overall, a bag of groceries, including eggs, bread, milk and potatoes costs 34 per cent less in New Zealand and 23 per cent less in Australia than in the UK.
A Ford Focus car costs the equivalent of £9,338 in Australia and £9,401 in New Zealand. The same car in the UK would set you back an average of £12,866.
A medium Starbucks cappuccino costs the equivalent of £1.38 in New Zealand and £1.10 in Australia, compared with £2.12 in the UK.
Peter S. Ellis, Chief Executive of Foreign Currency Direct, said, “Relative to the Euro, exchange rates between the Pound and the New Zealand and Australian Dollar have remained surprisingly stable over the last six 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.
“When considering a move abroad, Britons should not only consider the quality of life and cost of property overseas, they should also be aware of significant variations in the cost of living.
“If your main source of income is in Sterling, the cost of items overseas can vary significantly with exchange rates,” added Mr Ellis.
Closer to home
Whilst many are leaving the UK for the promise of a better and cheaper life over in New Zealand or Oz, many Brits are still keen to move that bit closer to home.
But, with the devaluation of the Pound against the Euro, many are finding themselves priced out of living in parts of Europe.
Foreign Currency Direct’s research found that France was one of the most expensive places to live for Brits right now, as the current rate of exchange of 1.12 Euros to the Pound means that Britons are paying an additional 10 per cent on the cost of purchases in Euros compared with six months ago.
For more information on Australian properties and the market in general, please visit http://australia.themovechannel.com/
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Notes to editors:
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For further information as well as images and interview possibilities, please contact:
Dan Johnson
Managing Director
www.themovechannel.com
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