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British citizens living in Australia are privy to a far lower cost of living than those living abroad in other countries that are popular with Brits, such as France and Spain.
Many Brits are using the dire economic climate on these shores as an excuse to move abroad to seek pastures new and Australia finds itself as a main target for disgruntled Britons. And, following the discovery that the cost of living in Australia and New Zealand is up to a third lower than it is in the UK, that trend is surely only going to increase.
Research carried out by foreign currency broker Foreign Currency Direct has shown that British citizens living in Australia are privy to a far lower cost of living than those living abroad in other countries that are popular with Brits, such as France and Spain.
According to a survey, living in New Zealand is around a third cheaper than living in the UK and Australia is not too dissimilar, having a 22 per cent lower cost of living than the UK. The facts are reinforced by these statistics; the UK cost of a Ford Focus car is £12,866 whilst it is £9,338 and £9,401 in Australia and New Zealand respectively. A bag of groceries would cost 34 per cent less in New Zealand and 23 per cent less in Australia than in the UK. Its figures like these that are driving the British to the Southern Hemisphere.
Peter S. Ellis, Chief Executive of Foreign Currency Direct, said, ''Relative to the Euro, exchange rates between the Pound and the New Zealand and Australian Dollar have remained surprisingly stable over the last six months. When considering a move abroad, Britons should not only consider the quality of life and cost of property overseas, they should also be aware of significant variations in the cost of living.''
It seems that not only is the weather significantly better over there, the financial situation is now superior too. If your thinking its time to pack your bags, then youd be wise to consider heading Down Under.