Property in Florida, including sought-after locations such as Miami, Fort Lauderdale and Palm Beach, has fallen in price by an average of around 15 per cent in the last month, according to ZipRealty.

The company claimed that the reduction is far higher in the Sunshine State than anywhere else in the USA.

Dan Johnson, director at TheMoveChannel.com, said that the price falls are a result of excess stock on the market, but Brits may take advantage of this and see an opportunity to purchase a property in Florida.

"[Looking] at the properties that are available and how far the prices have fallen from their peak of two or three years ago, it is incredible what you can buy for your money over there," he commented.

Because property values are likely to be close to the bottom of the market, Mr Johnson also suggested that prices in the state now represent good value for money.

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