Poor weather 'boosts overseas property market'
The overseas property market could be set for a boost after the recent poor weather in the UK, new research has found.
A study by Yorkshire Bank showed that that more than two-fifths of people were considering buying property in another country in order to escape the British climate.
The prospect of sunnier weather was found to be one of the main reasons for people to be tempted to live abroad, with two-thirds citing this as a major issue.
In addition, more than half of respondents said they believed they would be would be able to enjoy a relaxed lifestyle if they moved away from the UK.
Meanwhile, others highlighted various other reasons for choosing to invest in foreign property markets, such as using their purchase as a long-term financial investment or for future use as a retirement home.
Yorkshire Bank added that approximately 800,000 Britons now own an overseas property, with countries such as Spain one of the most popular destinations.
According to the Office for National Statistics, 385,000 people relocated to another country during the year to July 2006.
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