"Good" time for US money transfers

Investors who wish to transfer money to overseas mortgages have been urged to look to the US.

Property expert Mayfair International Realty recently suggested that the country's housing market is strengthening.

The comments follow figures released from Standard & Poor's/Case-Shiller that show US house prices grew by 1.3 per cent in August.

Annette Reeve, director at the real estate firm, stated her belief it is a good time to purchase homes in the country as they have increased in value, which may interest expats keen to transfer money abroad.

She said: "The overwhelming feeling from agents and the public is that the bottom has probably been hit and that it is a good time to buy."

Meanwhile, figures from the US Census Bureau show in September the US saw a 0.7 per cent rise in house sales compared with July.

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By John Mills