A quarter of British people trying to get onto the property ladder in Britain would consider moving as far as New Zealand – to live more cheaply so that they could save for a deposit to buy their first home in Britain. The findings are revealed in the latest Quarterly Savings Survey from National Savings and Investments.

The Quarterly Savings Survey asked more than 1,000 people who do not own or are not currently buying their own home, “Would you consider moving abroad where the cost of living might be cheaper in order to save to get on the property ladder back in Britain?”

The results show that New Zealand was one of the top choices. One in three people would consider moving to New Zealand or Australia

Younger people were most willing to move abroad.

Dax Harkins, senior savings strategist at NS&I, said: “British people clearly have a great appetite for buying a property in this country but find it difficult to save for a deposit while living here. It seems many will go to extreme lengths to achieve their goal, even if it means moving to the other side of the world in order to save up for a deposit back home.”