New report says that Brits save money by moving to Australia and New Zealand

Foreign currency broker Foreign Currency Direct has found that the cost of living in Australia and New Zealand is up to a third lower than in the UK. This is one of the main reasons why Brits are moving to Australia.

Another attraction for Brits is the weather in Australia. There is an excellent choice of outdoor activities such as the beach and picnics outdoors.

Foreign Currency Direct's latest research shows that British people living "Down Under" are enjoying a far lower cost of living than those who have settled in other top 10 expat hot spots, such as France and Spain. The survey covered a range of essential and non-essential purchases.

The cost of living in New Zealand is about a third cheaper than in the UK and Australia was not far behind, with a cost of living that is 22 per cent lower than in the UK.

Overall, a bag of groceries, including eggs, bread, milk and potatoes costs are as follows:

Cost of a Ford Focus:

Peter S. Ellis, Chief Executive of Foreign Currency Direct, said, "Relative to the Euro, exchange rates between the Pound and the New Zealand and Australian Dollar have remained surprisingly stable over the last six months."

"When considering a move abroad, Britons should not only consider the quality of life and cost of property overseas, they should also be aware of significant variations in the cost of living."

"If your main source of income is in Sterling, the cost of items overseas can vary significantly with exchange rates," said Mr Ellis.

The cost of living in Europe has gone up a lot in the last twelve months. With the pound going down in relation to the Euro it is, for example, ten percent more expensive living in France compared to six months ago.