US property 'offers more bargains'

The property market in the US is offering a larger number of bargains than has been the case for a long time, an expert has said.

Annette Reeve, a director at property firm Mayfair International Realty, stated that the market has been uplifted by government grants to help the less well off get on the property ladder, something that has brought about the 11 per cent rise in new home purchases last month.

"If you start at the bottom it filters its way up through the market and I think that is having a good effect," she commented.

Reflecting on the overall market in the country, she remarked: "Prices are down so much and you can get such good buys."

Those keen on buying property in the US may wish to follow this up by looking at what low-cost deals they may be able to find.

The rise in new home sales figures, which were produced by the US Census Bureau and the department of housing and urban development, saw the total of purchases increase from 346,000 in May to 384,000 in June.

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