Searches for overseas property have fallen sharply during September, new figures have shown. According to the latest report from Rightmove Overseas, overall foreign property searches dropped by 17 per cent over the course of the month.
The real estate portal claims that the news represents the beginning of the annual seasonal decline. Greece saw the steepest fall in interest, down 24.46 per cent while the US saw a decline of 22.5 per cent and Australia was down 21.83 per cent.
Robin Wilson, head of overseas at Rightmove, commented: "The expected seasonal drop off in activity as year end approaches kicked in sharply last month with overall search activity down 17 per cent. August is always strong for research activity as people return from summer holidays resolving to buy a more permanent base where they enjoyed spending time abroad."
Meanwhile, David Kerns, private client dealing manager at Moneycorp, said that the drop in activity could also reflect the weakening of major currencies during September.