In the year to February, US new home permits and sales went up, but not enough to keep up with pent-up demand in a challenging buyer’s market.
With the property market in full recovery, not all metro areas are good for US buy-to-let property. Others, on the other hand, tick all the boxes
US rentals are on the move as almost two-thirds of tenants plan to relocate. Sunbelt states such as Florida and Texas are top favourites.
The latest Chief Executive magazine survey places Texas and Florida at the top of the best states for doing business in the US. This is the 12th year in a row that the two states take the accolade, and the survey finds that Florida – currently in second place – is closing the gap on Texas as this BRIC Group news article explains.
US property prices continue their upward trend and rose nationally by 6.9 per cent in the year to July. Furthermore, analysts predict further price increases over the next 12 months when they expect an average rise of 4.7 per cent. The price of property, however, still remains below its historic high.
Oil prices may have fallen, but the US energy capital Texas continues to lead the nation. This is particularly true in Houston where a diversified economy is ensuring job creation and record property prices.
With job creation at one of the highest rates ever, Houston is currently riding a wave of economic prosperity. Along with buoyant employment, Houston’s property market is also enjoying record activity levels with short supply and a rise in rental prices.
The two states of Texas and Florida dominate the Forbes Where to invest in 2015 list with Houston and Orlando property featuring in the top five. The two cities stand out for their high population growth, strong job creation and undervalued property prices. As a result, Houston and Orlando are “safe bets to invest”, for both first-time buyers and buy-to-let investors.
