British property investors 'prefer USA to Europe'

Britons feel more confident about investing in property in the USA than in many European countries, it has been suggested.

Annette Reeve, director at Mayfair International Property, noted that investors are attracted to the country because they can travel there within nine hours.

She added that falling prices mean people now feel they are buying at the bottom of the market, encouraging investment.

Ms Reeve singled out Miami as an area that has always been popular, particularly as there is access from all of the UK's major airports.

And she observed that measures to boost the sector are also being welcomed, stating: "The US government is bringing in various schemes to help kick start their property market in the same way as the Brits are."

Standard & Poor's/Case-Shiller Home Price Indices have revealed that property prices in Miami had fallen by 29.5 per cent in February, compared to a year earlier.