Many people considering switching to the US report National Homebuyers

The weakness of the US dollar could encourage many people to move abroad.

[ClickPress, Mon Feb 18 2008] That is according to foreign currency exchange service HiFX, which said that the US suddenly looks more attractive to buyers.

In addition to the pound being strong compared to the dollar at present, the UK housing market is suffering, while the mortgage market is also looking decidedly unhealthy.

HiFX pointed out this combination of factors may lead to more people seeking a fast property sell and moving abroad.

"The two dollars to the pound that we've seen over the last six months or so has been a big talking point in the press – you can't help but pick up any newspaper and see various commentators talking about two dollars to the pound," said Marc Cogliatti, HiFX consultant.

"The difference in someone's mind, psychologically, between 1.90 and two is potentially huge, I would argue.

"Given the fact that the sterling-euro [exchange rate] has dropped significantly lower – it's come off almost ten per cent in the last couple of months – all of a sudden, it means that any property in Spain or France is significantly more expensive for anyone," he added.

Julian King of National Homebuyers says, "We are seeing a noticable increase in people contacting us, as they want to arrange for the immediate cash purchase of their UK home, so that they can either lay down the deposit required or be a cash buyer abroad.

"The number of over 50s leaving the UK in the coming years will be huge. I think government and ecomomic confidence is at an all time low and homeowners could do a lot worse than leave the country".

Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm, guaranteeing a fast cash offer for any property in the UK for homeowners who want a quick, hassle free sale. The company does not require the homeowner to have paid for a Hips pack in order to purchase.

Bookmark this release: Del.icio.us - Digg - Furl - Blinklist - Reddit