Brits move to Canada and US as pound strengthens

June 05 2009 by Ranjan Chakraborty

Move to Canada and get cheaper and bigger property for your money

Move to Canada: property cheaper

The news that the pound sterling has strengthened over the past month may increase the number of people opting to emigrate to Canada, the US, South Africa, Australia or European destinations.

According to research by FC Exchange, 60% of Britons have considered emigrating since the recession kicked in and the number actually taking the plunge could well increase as Brits gets more for their money abroad.

Sterling has reached all-time lows over the past two years but is finally strengthening against the dollar and the Euro again, giving migrants more bang for their buck.

For those thinking of a move to the US, the knowledge that a stronger pound will enable them to buy a more expensive property will act as an added incentive to make the move a reality. For example, £350,000 will now buy a property worth US$565,000 in the US at current rates, compared to just US$500,000 in early January this year.

Experts believe that UK consumers moving to Canada and the USA will be able to afford a much higher quality of life now that sterling has strengthened. Voltrex Foreign Exchange's Toby Fischer, says, “there has been a new surge in people transferring sterling into foreign currencies to pay for down-payments on property. Now sterling is strengthening again, UK buyers are gaining the upper hand.”

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