The US economy and property market should start to pick up by the end of the year, chairman of the Federal Reserve Ben Bernanke has said.

Mr Bernanke told Congress that the country will start to economy growth resuming providing there is no relapse in the financial sector, while the property market is near the bottom.

This may encourage those who are thinking of buying in Florida to invest in the state, in the expectation that the value of properties may soon start to rise again as the economy and market regain lost ground.

Sales of Florida property have been increasing in recent months, research has shown.

Florida Association of Realtors data for March revealed that the number of transactions was 30 per cent up on the same month in 2008, as well as being 32.7 per cent higher than in February this year.

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