Some of the new high-speed rail links planned to receive federal funding in the US will be in California, it has been announced.

President Barack Obama’s list of routes earmarked to receive the government cash include the California Corridor, which would link up the San Francisco Bay area, Sacramento, Los Angeles and San Diego.

Such a link could help improve the value of California property by offering those who live or take holidays in these cities quicker access around the state.

Mr Obama commented that the US needs "a smart transportation system equal to the needs of the 21st century", which will help ease congestion and pollution.

Earlier this month the Union-Tribune reported that experts were stating that the California property market appeared to be bottoming out.

The paper quoted economist Christopher Thornberg as saying that those who enter the market at this time are "smart investors".

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