US property in 11% price boost

British buyers converting pounds to dollars will find that purchasing and living in a property in the US is now 11 per cent cheaper than it was in April.

Such a figure was calculated by money exchange firm Foreign Currency Direct, on the basis of the way the improved value of sterling has lowered the cost of items bought in dollars.

It revealed that this meant the average US house cost was down from £204,055.94 to £182,375, while additional savings can also be made on good such as groceries, with the cost of a typical shopping basket containing bread, eggs and milk dipping from £4.94 to £4.42.

Those keen to buy US property may consider such savings as a good reason to purchase now.

Sterling's value has risen against the dollar this week after a report by the National Institute of Economic and Social Research suggested the UK recession could be ending, with the economy growing in April and May.