The latest S&P/Case-Shiller index of property value reveals that house prices in the 20 US cities covered in the index climbed by 5 per cent in June from the same month a year earlier.
The figures show that all 20 cities in the index showed a year-over-year gain, led by a 10.2 per cent increase in Denver, a 9.5 per cent rise in San Francisco and 8.2 per cent increase in Dallas.
Measured against a month earlier, property prices rose in nine of the 20 cities and were unchanged in two. Home values in Portland, (up 0.5 per cent), showed the largest monthly gain, while Chicago registered the biggest decline (down 1.7 per cent).
Property prices in the United States have been recording consistent monthly year-on-year growth for the best part of three years as the market continues to recover following the house market crash of the late noughties.
If you’re planning on moving to the United States in the coming months and, more importantly, looking to buy a home there, then given the rising prices in most areas of the country it is arguably more important than ever to make your money go as far as possible. And this is where making sure you get the best possible exchange rate when changing your Pounds to Dollars is crucial.
While some would-be immigrants view the exchange market as little more than a lottery, and are happy to exchange their money when they have it regardless of the rate they receive, wiser emigrants plan the exchange well in advance by engaging the services of a specialist foreign exchange firm like Halo Financial.
When exchanging large lump sums for emigration purposes, only a small change in the market can have a significant impact on the amount of money you could be potentially starting your new life with.
For example, imagine you sold your UK property at the beginning of June and decided to exchange, say, £150,000 for US Dollars. If you had waited a while and carried out this exchange yesterday (25th August) then you would have received US$234,900. However, had you rushed into the exchange, purely because you had the money available, then on 3rd June you would have received a less wallet friendly US$227,700 – a potential loss of just over US$7,000, purely from not taking your time and seeking expert advice.
However, had you exchanged on 19th June, when the exchange rate was at its highest in the past three months, you would have received US$238,200.
Halo Financial understands why the exchange rates are moving and just what impact this has on your currency transaction. What’s more, they can also explain how to make your money go further and give you a range options on exactly when you wish to exchange, and how much you should exchange at a time.
To find out how you can make sure you can get the best exchange rate possible, and take advantage of positive fluctuations in the markets, visit www.halofinancial.com