British expats are said to be expressing renewed interest in buying property in the UK.
Research from Lloyds Bank found that 38% out of more than 1,000 British expats surveyed said they were planning to buy a property within two years as buy-to-let in order to increase their income while they remain abroad.
Twenty-five per cent were aiming to buy in the UK which proved the most popular location. Others were seeking property in Australia, a close second at 24%, the US (15%) and Canada (8%).
Property in Spain came only fifth on the list. Just 6.8% wished to buy within the eurozone.
Of the expats keen to purchase in the UK, the majority were based in the UAE (65%), France (37%) and Switzerland (29%).
The survey also found that rentals in the UK were more likely to take place year round (71%) than properties in other countries (47%).
Sterling is relatively weak at the moment, adding to the allure of property in Blighty, because euros and US dollars can now buy more pounds than the reality a few years ago.
One spur to buying is likely to have been the changes made by Chancellor Osborne to pension regulations as pensioners can use their pension pot rather than being tied to an annuity.
Moreover, conditions for obtaining a mortgage are set to become stricter, which means that more people could be obliged to rent their accommodation until they are able to meet the new mortgage requirements.
