Orlando to see highest price gains in 2012 says Colordarcy
Overseas property investment consultancy Colordarcy has predicted that the Florida resort of Orlando will see the highest property price gains in America this year with values rising 11.7% against a national average improvement of just 2.1%.
Loxley McKenzie Managing Director of www.colordarcy.com, told OPP this week that “Orlando has already posted encouraging price increases for 2011 with properties rising by a healthy 6.7% and the city was second only to Dayton, Ohio” last year in price increase terms.
“Decreasing foreclosures have been key to this success,” he added, “with now only a quarter of the market made up of foreclosed properties compared to 2010 when more than 40% of the property market was bank owned. With foreclosures continuing to drop it is permitting the property market to recover and not having to compete with an abundance of distressed listings.”
The Colordarcy real estate forecast looked at factors such as unemployment levels, re-sale statistics for the same properties and the total number of foreclosures on the market. It also took into account a slow-down in bank repossessions.