Downpour of Brits buying property abroad due to weather at home, says Barclays

22 August 2007
Twice as many Britons plan to buy property abroad this year compared to 2006 figures, and the ‘wettest, dullest’ summer ever is to blame, according to Barclays Buying Abroad.

Some people believe that rocketing property prices, crime and an imbalance between work and life are the main causes of the rush of Brits clambering to buy abroad, but Barclays has found that the weather is the main culprit.

Britain is currently suffering its wettest summer on record, with 387.6mm of rain falling – more than double the usual British average, causing massive floods which have left many with ruined homes and huge repair bills or hiked up insurance rates. This has been coupled with below average levels of sunshine, leaving Brits eager to find an escape.

In July, for example, rainfall was well above the norm, with England and Wales recording more than double their average, and some areas in Worcestershire recording more than four times their average rainfall for July. Low average hours of sunshine, temperatures, and rainfall give a good indication of why people are not keen on staying at home.

Richard Exton, Director of Barclays Buying Abroad said “Brits are familiar with the idea that we only have two seasons: the winter and July. It seems that this year, with the terrible weather we have experienced in July and throughout the summer many people are not prepared to sit through a year-long winter and are looking for a getaway to sunnier climates.”

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