US property buyers aided by sterling rise

A further increase in the value of sterling against the US dollar may help those looking to buy property in the US.

Morning trading today has seen the pound topping the USD1.64 level, helped by new data suggesting the UK may be coming out of recession much earlier than expected.

Data from the National Institute of Economic and Social Research (NIESR) indicated that the economy grew in April and May, with March representing what it called the "trough of the depression".

The improvement in the value of the pound is in contrast with earlier this year, when it was worth less than USD1.40 in January.

It means that buyers can get more US dollars for their pounds and thus will be able to stretch their property buying budgets further.

Buyers of US properties were advised to consider the Florida town of Kissimmee this week.

Road House Realty said the location, which is near Orlando, has one of the highest levels of air quality in any urban area of the US.

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