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Continue to focus on Sunshine State, investors told

Article Date : Wednesday, May 16, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Property sales in Florida are expected to double as British investors remain confident in the market, a loans firm has said.

GE Money Home Lending expects investors to flock to the Florida market after recent reports that the pound reached a 26-year high against the dollar last month and was about 20 per cent above its 20-year average of 1.65 USD.

Britons who have already bought properties in the Sunshine State are advised not to sell up but should view their investment as a long-term asset.

"The Florida market is still performing strongly for UK investors looking for a home abroad," said Gerry Bell, head of marketing.

He went on to say that although the US has seen house price inflation slow down to 6.5 per cent across the country as a whole, Florida is still performing "relatively strongly" with house price inflation at 9.5 per cent.

Earlier this month, property website Buy Association said that Florida is likely to continue as a popular destination for holidaymakers, even if the exchange rate starts fluctuating.
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