Brits abroad: Opting for Oz

Whether they're looking to start a new life or see out an old one, British expatriates are flocking to Australia and taking into consideration the golden, sandy beaches and laid-back lifestyle of the Aussies, it's not hard to see why.

But an overseas property advisor has revealed that UK ex-pats have a "general lack of knowledge" about the buying process down under and don't realise how problematic permanent residency can be.
Paul Collins, overseas property editor at BuyAssociation.com, revealed that Australia was different to other popular property hotspots such as Spain because people move out there not looking to make an investment for themselves on their property.

He said: "There is a general lack of knowledge amongst the property buying public in terms of the buying process and what they need to go through.

"Anyone who's not Australian and is buying a property over there has to go through the Foreign Investment Review Board to approve the purchase.
"There's a perception sometimes that people would be able to emigrate out there quite easily. But actually getting a permanent visa is not an easy thing to do."

Indeed, it is not easy to live in the land down under, with the Australian immigration programme focusing strongly on attracting people who can contribute to the economy.

To be eligible for the skilled migration program you must be under 45, speak vocational level English and be qualified in a priority trade or profession.

This form of migration is easier if you are willing to move to a particular area of Australia and people who have certain business skills are also preferred.
And it seems that the money Brits could save from living in Australia makes it an attractive prospect.

A recent survey by National Savings and Investments suggests that a quarter of first-time buyers would move abroad and save money for a deposit on a UK home.

However, it seems that the most popular destinations, Sydney and Melbourne, are becoming more and more expensive places to let.
Research compiled by the country's largest property management company Run revealed the average rental price in those areas increased by over double the amount in the previous quarter by 8.62 per cent.
Of the 20,000 properties under its management almost eight in ten had to increase rent in the period.

Run chief executive Robert Farmer, explained: "A lot of tenants that would have normally moved out have actually been happy to stay in their property because they know how difficult it is out there to find the equivalent rent."
"Rents are catching up with the cost of living. There is no doubt that it is a strong market."

These developments will come as good news to Brit investors, with buy-to-let mortgages a potential source of high income.

But according to overseas property expert Mr Collins, Brits aren’t just focusing their attention on the typical, traditional destinations.
He said: "People are starting to look further a field. They're looking at places like Perth and the Gold Coast. They're getting a bit more adventurous."