Florida property prices up...but pound down

Monday, February 04, 2013

Florida property prices up...but pound down

It's fair to say that Florida is back on the upswing. According to visitflorida.com, visitor numbers were up in 2012 and with President Obama's plans to expedite the visa process for visitors from two of the largest growing markets visiting Florida - Brazil and China - it looks like this trend could be set to continue.

Disney Parks and Resorts operating profit jumped up 22 per cent on 2011, to $1.9 billion, (travelweekly.com) and Universal Orlando announced a massive development project, set to be the extension of the Wizarding World of Harry Potter, which has boosted attendance figures since its opening in 2010.

House prices are now rising too. According to the S&P/Case-Shiller National Home Price Index, house prices in Florida were up 4.3 per cent over the past 12 months and the sale of new single-family homes rose to the highest level since 2009, a sign that the US housing market may have turned a corner.

The Commerce Department said that Americans bought 367,000 new single-family homes in 2012, up 19.9 per cent from the prior year.

But if you are looking to buy a US property, what does the recent drop in sterling (GBP) mean?

According to the currency exchange broker, Moneycorp.com, with the GBP/USD rate hovering around 1.57 you might not jump at the chance to buy US Dollars, but by utilizing the services of a FX broker you can take advantage of market highs.

"During 2012, the exchange rate hit over 1.60 on three separate occasions and placing free market orders with Moneycorp means you can book this rate BEFORE you need to transfer the money to purchase your property, giving you more money to spend on your home and protecting you against any market downturns," suggests Kelly Cutchin of Moneycorp's US division.

"The key is planning ahead and using a broker to monitor the rate before you buy your home."

"Plus Moneycorp has a local office right in the heart of Orlando, Florida, giving the team valuable insights and connections in the Florida property market."

So if you are looking to purchase property in Florida and would like to discuss how changes in the market can affect your buying power, please feel free to call Moneycorp on 001 407 352 5890 or click here to go to their website.


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