Aussie investors turn to USA

The rising Australian dollar has led to a surge in investor interest in the US property market, it has been observed.

Vincent Selleck of 888 US Real Estate, based in New South Wales, claimed that Australian investors can now snap up potential US rental properties on the cheap after the dollar reached a 28-year high of $US1.01 last week.

Speaking to the South Australian Sunday Mail, he said: "Investors are now seeing incredible value buying in America where they can get homes that were $300,000 in 2007 for $35,000 with cash (rental) returns between 15 to 25 per cent net after expenses."

Australian investors looking for strong, stable returns can also choose to compare term deposits in search of the best options. Mr Selleck's comments follow a seminar about buying US houses that was held at Adelaide's Hilton Hotel last week and was attended by more than 200 people.

According to the Sunday Mail, the rising Aussie dollar and depressed US property market has led to a surge of Australian agents setting up businesses promising to match investors with US properties.

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