US property has seen a yearly increase

US property investors will be pleased by news that real estate in the country has increased in value over the last year.

According to figures released by real estate data provider Clear Capital, residential property has soared by 6.8 per cent in May compared to a year ago, with the figure the largest annual increase since July 2006.

The news is sure to please anyone who has invested in Florida property, with the destination remaining a popular tourist hot-spot.

"We continue to see sustained price growth throughout much of the country, with yearly price gains reflecting the housing recovery off of last year's lows," said Alex Villacorta, senior statistician at Clear Capital.

"This dramatic shift in price trends reflects the unprecedented volatility over the last couple of years and the delicate state of local real estate markets around the country."

Paul Collins, editor at BuyAssociation, has suggested that now is a good time to buy property in the US, with many investors feeling confident that the market in a number of states is unlikely to fall any further.

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