A list of top places to invest in US property has placed two Californian cities in the top five.

Compare Shares, an Australian investor portal, has noted that the US overall saw house prices tumble 11.3 per cent in the year to October.

It said that for this reason it is a good time to purchase real estate in the country and identified California property as an ideal investment, with San Francisco rated the second best place to buy and Los Angeles the fifth best.

The site advised that this may be a long-term venture, as recession may mean that prices do not start rising in the near future.

Such sentiments may encourage UK buyers thinking of investing in California property with the long-term prospect in mind.

Many good bargains can be had at auction, with Hudson & Marshall of Texas carrying out one sale last month of foreclosed properties available from $35,000 (£23,000).

Visit Rightmove Overseas for the best selection of California property. Stop dreaming, start searching!