Brits pour into Florida as house prices fall

British residents looking to live abroad are likely to be increasingly attracted to Florida, thanks to a fall in property prices in previously unaffordable areas.

Figures obtained by the US census bureau and the department of housing and urban development revealed earlier this week that the average American property sold for approximately £16,000 in June, while the typical price of a new home was £125,000.

Annette Reeve, director at Mayfair International Realty, said that those who have their eye on a place in Orlando will get a lot more for their money than before due to a sharp fall in prices.

"From Orlando's point of view, your pound is going so much further," she said. "You can buy a much nicer house in Orlando than you would have been able to four years ago."

Reeve added that those who are willing to move slightly nearer to the coast will be able to find properties in areas such as Cocoa Beach and Sarasota, which many would have deemed too expensive in the past.

Those contemplating moving to Florida might want to arrange to have their possessions looked after in a secure storage facility for several weeks or months.

Written by Susannah Birkwood