Australia is proving to be a popular destination with those Brits who are hoping to buy an overseas property, a new survey has revealed.

According to the latest HiFX Global Property Hotspot study, the percentage of enquiries regarding an Australian purchase has doubled since the beginning of the year.

In January, the percentage of enquiries for Australia was three per cent, rising to six per cent in March, the survey shows.

The report also reveals increasing enquires from Brits looking to permanently emigrate, but investors are being urged to consider the currency fluctuations that can take place between a successful visa application and the eventual move.

Spokesman Mark Bodega explained: "Making the decision to move to a new country is a big undertaking, both emotionally and financially.

"Last year we saw the Australian dollar fluctuate by almost ten per cent (9.7 per cent) so when moving £250,000 'down under' in 2006, currency fluctuation meant you risked losing as much as £24,250."

According to property website BuyAssoication, Sydney and Melbourne still appeal to investors, although a growing number of buyers are looking at places like Perth and the Gold Coast.