US property prices on the rise again
Recent figures reveal that American property prices are continuing steadily along the road to recovery.
According to real estate provider CoreLogic, property prices across the country rose by an average of 5.5 per cent in November from a year earlier, up from the 5.4 per cent annual increase that had been recorded in the previous month.
The five states with the highest home price appreciation in the year to November 2014 were: Massachusetts (8.6 per cent), Texas (7.9 per cent), Colorado (7.8 per cent), North Dakota (7.8 per cent) and South Dakota (7.5 per cent).
Including distressed sales, the US has now experienced 33 consecutive months of year-over-year increases, yet prices still remain 12.9 per cent lower than they were at their peak in April 2006.
What’s more, CoreLogic’s analysts predict that t home values nationally will rise by 4.6 per cent and that by the middle of 2015 half the country’s homes will match or surpass their pre-recession prices.
Of course, while rising prices may be seen as good for the economy, they are not so warmly welcomed by those trying to buy a home in the country – a position many of you hoping to emigrate to the US could be facing soon.
Fortunately, there are steps you can take from within the UK to ensure the property purchasing process is as affordable as it can possibly be – not least by talking to a specialist foreign currency exchange firm like Halo Financial.
When exchanging large lump sums for emigration purposes, small change in the market can have a significant impact on the amount of money you could be potentially starting your new life with.
For example, if you have recently sold your UK property and decided to exchange, say, £150,000 for US Dollars, then yesterday you would have received just US$228,600. However, had you got yourself organised and decided to exchange the same amount back in late October, when the exchange rate was at its highest level in the past three months, then you would have received US$242,400 – almost US$14,000 more!
Yet the exchange markets are far from a lottery. Wise emigrants start to plan their exchange well in advance by engaging the services of a specialist foreign exchange firm like Halo Financial. Halo understands just why the exchange rates are moving and what impact this has on your currency transaction.
What’s more, they can also explain how to make your money go further and give you a range options on exactly when you wish to exchange, and how much you should exchange at a time.
To find out how you can make sure you can get the best exchange rate possible, and take advantage of positive fluctuations in the markets, visit www.halofinancial.com