US investors can spend a bit more for a 'unique property'

Individuals looking for a property in Florida should increase their budget and secure a "unique home", it has been claimed.

According to the Homes of America Realty Group, spending that little bit more means that Brits will be able to get something "a little better and a little different".

The comments, which were made by Howard Thorne, owner of the company, come just after the Standard & Poor's/Case-Shiller Home Price Index was released.

It shows that US property prices increased in July and are now up annually by 4.1 per cent in the ten-city composite average and by 3.2 per cent in the 20-city composite average.

"Mr and Mrs average who have a family and just want a home that they can enjoy and hope to bring in good income for coverage of the operational costs by rental, will spend somewhere between $170,000 [£107,700] to $245,000," Mr Thorne said.

Meanwhile, those looking at property in the US may be interested to hear that residential sales have crept up slightly, the National Association of Realtors reports.

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