Currency exchange rates 'can help with property bargains'

Currency exchange rates can help deliver a bargain to shrewd property investors, it has been suggested.

Freelance property journalist Marc Da-Silva said that "not enough people take currency fluctuations into consideration when buying a property overseas".

Now could be a good time to make a change of habit as sterling has reached a five-and-a-half month high against the dollar this week (August 2nd).

Mr Da-Silva added that property prices in the US were currently quite low anyway, even without the added benefit of a strong pound.

He said: "Not only would you benefit from capital growth, you would also benefit from growth in the US dollar against sterling when repatriating funds back to the UK."

The US Census Bureau and the Department of Housing and Urban Development recently revealed that new home sales jumped by 23.6 per cent in June compared to the same time the year before.

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Posted by Chris Barber