Housing market slowdown ‘stopping credit crunch escape’

There has been an increase in the number of British people enquiring about leaving the UK, but problems in selling property is slowing the mass move, HiFX has said.

Enquiries about emigration have increased 30 per cent, according to the currency specialist, which also cites information from removals company Anglo Pacific that reveals interest in moving abroad is at “a record high”.

However, HiFX said emigration from the UK has actually risen ten per cent. Anglo Pacific said its relocation figures had fallen.

Mark Bodega, director at HiFX, said 2007’s emigration statistics were historically high but the increase in people considering the move this year indicates “there is now a very real desire to escape some of the problems in the UK economy.”

He explained that people are unable to move because they are unable to sell their homes, however. HiFX advises people to remortgage and then rent out their home to release equity, an option that would reduce potential debt management problems that may arise if owners decide to return home.

Anglo Pacific claims to transport 20,000 consignments of household and personal items every year.

By Morwenna Kearns