Britons living abroad are increasingly selling their homes and coming back to live in the UK, it has been suggested.
Currency specialist HiFX has analysed the results of business in the past six months to reveal a trend for repatriation. .
The firm reported a 180 per cent increase in euro to pound transactions during this period.
Almost a third (32 per cent) of these movements were for amounts of over £70,000, which indicates people are selling their homes abroad and returning home, the statement said.
It is believed that part of the reason for this is the pound's historic low.
This could be making living on the continent unaffordable for many pensioners.
In related news, the minister for consular affairs Chris Bryant recently told Reuters that the condition of older British people living in Spain was a source of worry for the government.
The rising power of the euro and a general increase in the cost of living there has meant that some retired expats have not been able to sell their homes in order to come back.
See Also: Property News (6749)
Date Published: 24 September 2009
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