British interest in buying property in the USA has soared in the wake of the election of Barack Obama, an expert has stated.

Director at property firm Mayfair International Realty Annette Reeve said the effect the election of the first African-American president has had on UK buyers has been "huge" and "amazing".

He added: "I’ve never known a US election inspire as much interest in the UK as this one did."

Ms Reeve observed that there is a strong sense of optimism that the policies being instigated by the new president will help boost property in the USA through the successful revival of the nation’s economy.

Those seeking bargains in the country may find good opportunities to do so in the larger cities, recent figures have indicated.

The Standard & Poor’s/Case-Shiller Home Price Indices for November 2008 showed that in the 20 largest metropolitan areas the average house price had dropped 2.2 per cent since October and 18.2 per cent in a year.

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