“Rain drain” takes affect as Brits move abroad
August 21, 2007 by admin
Filed under News, News-Mortgages
The number of Britons keen to buy homes abroad has doubled in the past year, it was claimed today.
According to figures released by Barclays Buying Abroad, the “rain drain” caused by the cold, wet summer has been a major factor in the rise, along with the usual suspects of long work hours, rising UK house prices and the high crime rate.
Enquiries to the service – which helps fed-up Brits to relocate – have risen to 18,000 from 9,000 in the equivalent period last year.
Director of Barclays Buying Abroad Richard Exton said: “Brits are familiar with the idea that we only have two seasons: the winter and July.
“It seems that this year, with the terrible weather we have experienced in July and throughout the summer many people are not prepared to sit through a year-long winter and are looking for a getaway to sunnier climates.”
This summer’s rainfall has been the highest since records began almost 250 years ago.
Widespread flooding hit southern England in June and July and has cost approximately £2.5 billion in claims, according to recent figures from the Association of British Insurers.
