US property market offering Brits an 'incentive' to buy

The US property market is likely to benefit from a glut of reduced properties in tourism hotspots, it has been claimed.

Many Brits may see this as a good opportunity to purchase their dream homes in desirable destinations, with Dan Johnson, director of TheMoveChannel.com, believing that it will act as an "incentive" for many to part with their cash.

Mr Johnson was particularly complimentary about the bargains to be found in Florida, where prices have fallen by as much as 15 per cent in places.

He continued: "When you look at the properties that are available and how far the prices have fallen from their peak of two or three years ago, it is incredible what you can buy for your money over there."

Furthermore, Mr Johnson recommended potential home buyers regarded the current property market as being close to the bottom and as such further significant dips in prices were unlikely to be seen.

Meanwhile, research conducted by online real estate broker ZipRealy found that over 40 per cent of homes in Miami, Fort Lauderdale and Palm Beach were offering price reductions during February.

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