"Feel good factor" could help US property market

The US property market is set to benefit from the "feel good factor" Barack Obama's recent election victory has brought to the country, it has been suggested.

President elect of the National Association of Estate Agents (NAEA) Chris Wood stated that while the property market has suffered problems, change of president could help reverse its fortunes.

And he noted that the US public feels Mr Obama's economic polices offer hope for the future.

"I think the people of the states probably felt Obama could actually drive [change] through," he explained, adding that "we may well see the light at the end of the tunnel" in the property market as a result.

Mr Wood's views match those expressed at a Florida property conference held last week, where the Times reports current NAEA chairman Peter Bolton King found members of the National Association of Realtors confident that buyers will begin to re-enter the property market once the economy has stabilised.