The number of Britons looking to buy Florida property is on the rise thanks to the increased value of the pound against the US dollar, it has been stated.

A study by money exchange firm Currency Index has found that Florida is one of a number of investment locations where the cost of buying for Britons has fallen, the Press and Journal reports.

This has been caused by a combination of lower prices, cheaper mortgages due to base rate cuts and sterling’s improved fortunes, the company said.

Citing these two factors, spokesman for the firm Robin Haynes commented: "We are seeing a renewed demand for currency exchange as people pick up property bargains in Spain, Florida and elsewhere around the world."

Those who are buying in places like Florida and elsewhere should not forget to apply common sense and "the basic rules of safe buying abroad", chief executive of the Association of International Property Professionals Paul Owen has warned.

He told the Daily Mail that now is a good time to buy but ensuring independent financial and legal expertise is engaged is still necessary.

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