Economists predict US growth soon

The US economy will start growing again by the end of the summer and house price increases will follow next year, it has been argued.

Such a prediction came from the American Bankers Association's Economic Advisory Committee, which forecast that gross domestic product will rise by 0.5 per cent between the months of July and September.

This would mean the recession is over and such economic good news could help boost the housing market.

According to the committee's chairman Bruce Kasman, this situation will unfold over the following months, with house prices rising slightly next year.

In the meantime, the market will benefit from improved affordability, he stated.

People looking to buy property in the US may be encouraged by the expectation that a return to growth in the wider economy and then the housing market is not far away, as this would suggest the bottom of the property market could be close.

Moving to the US is 11 per cent cheaper for UK buyers than it was in April, money exchange firm Foreign Currency Direct calculated last week.