The south-west Florida property market has reached its lowest point and is now starting to show signs of improvement, it has been stated.

Executive vice president of the Lee Building Industry Association Michael Reitmann told the Fort Myers-based news-press.com: "I think we are at the bottom."

Optimism was also expressed by president of First Community Bank of Southwest Florida David Hall, who stated: "I am thinking that the healing process is well on its way," commenting that homes selling for under $100,000 (£61,000) are starting to move very quickly.

Such news may interest those looking for Florida property bargains, particularly in the south-west of the state.

Those keen on buying there may be encouraged by an 11 per cent drop in the cost of moving to the US seen over the past two months.

Such a figure was calculated by overseas money exchange firm Foreign Currency Direct, based on trends in house prices and the effect of the rising value of sterling against the dollar, which has cut the cost of buying homes and also that of groceries.

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