News for UK buyers of Orlando property
Good news for anyone looking to buy in North America: the pound has
recovered some significant ground against the dollar in recent weeks, making
property on the other side of the Atlantic a more realistic prospect once
again.
From dropping below the $1.40 mark in January and then in April, sterling
has climbed back safely above the $1.60 mark, even touching $1.70 on a
couple of recent occasions. It's not back to the dizzy heights of the $2
pound witnessed as recently as last July, but that may come to be seen as an
aberration – a window of opportunity that surfaced when prices were at their
peak.
For those buying in the US, the pound's lower value against the dollar is
easily outweighed by the fall in prices in key markets such as Florida. In
the Kissimee area, estimates are that prices are just 51 per cent of their
level in 2005.
Both enquiries and sales are up. These are clear indicators that the market
is recovering. While the national housing bust has devastated property
values, it has also created some outstanding bargain opportunities for
property investors.
Posted: 8 September 2009
Source: Prime Location
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