Florida property 'available at half former price'

Those looking to buy property in the USA can find bargains in Florida that are up to 50 per cent less than in the recent past, it has been stated.

Kimberly Kirschner, the owner of Kirschner Realty, told the Financial Post that there are beachfront properties in the south of the state available for USD250,000 (GBP142,000).

She added: "The same property would have been about USD500,000 just two or three years ago."

The news source notes that large numbers of Canadians are heading south to pick up bargains and many Britons may also be interested with prices falling so low.

Longer term prospects for US properties to grow in value may also now be better, following the implementation of the bill to bail out the US banking system.

After rejecting the measure in the original vote, a revised version of the USD700 billion package was passed in Congress by 263 votes to 171.