Dive Brief:
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Sky-high housing prices in England are driving some British house hunters to the United States to look for affordable homes.
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According to research from Gocompare.com Mortgages, more than 20% of would-be homebuyers in the UK would consider moving to the U.S., Australia, or New Zealand so they could buy property.
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Men were more likely than women to say they would consider moving to another country if it meant becoming homeowners. And young consumers were more likely than those older than 55 to say they would leave their homeland for that reason.
Dive Insight:
“A lack of affordable housing has resulted in a property market that is closed off to an increasing number of would-be home owners,” said Matt Sanders of Gocompare.com Mortgages. “As such, it’s hardly surprising that many people feel like they may have to take some rather drastic steps to own a home.”