The time is right for people to invest in the US property market, according to an expert.

Les Calvert, director of Property-Abroad.com, said the latest house building figures would boost the US property market and "instil confidence" in it as well.

"Last year was the year of repossessions and foreclosed properties in the US, but I think that it is starting to turn the corner and these figures are proof that it is looking more positive for 2012", he said.

"[However] property prices in the US are currently back down to 2003 levels and the most recent available data showed prices fall sharply after a period of stability."
He added that 2012 would see stable growth in the US property market, citing Florida as a particularly good place.

It is already popular with European investors, according to Mr Calvert.

His comments come on the back of newly released data from the Commerce Department's US Census Bureau, which revealed that housing starts rose by 9.3 per cent in November compared to the previous month.

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Posted by Fiona Mayers

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