Pound boost 'will help US property seekers'

The rise in the value of the pound against the US dollar is encouraging more Britons to purchase homes in the US, it has been suggested.

Spokesman for money exchange firm Moneycorp Deane Roe said: "Moneycorp have seen an increase in clients buying property in the USA. [It has] increased by 23 per cent within the last six months."

He added that this jump has correlated with a period when the value of sterling has risen above USD1.50.

Mr Roe added that another evident trend has been a rise in cash purchases of between USD30,000 and USD100,000 (GBP60,000), instead of people just putting down deposits and then taking on a mortgage.

Such an observation comes at a time when some statistics have indicated positive trends in the US property market.

This week, the US Census Bureau and the department of housing and urban development revealed that the seasonally-adjusted total of new home sales in the country in October was 6.2 per cent up on September's tally, at 430,000.

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