Florida property is back in favour with British buyers, according to Orlando-based firm Coldwell Banker Feltrim.

Speaking to A Place in the Sun magazine, the company's chief executive officer Garrett Kenny said that the state's reputation as a tourist hotspot makes it a popular destination for Brits wanting to buy property abroad.

"Now is a great time to buy property in Florida as prices have fallen by as much as 50 per cent in some cases and some condos are now selling for less than they cost to build. With prices so low there is nowhere for them to go but up," he said.

Mr Kenny added that savvy investors could buy a modern family home in Florida near the world-class theme parks, golf courses and natural wonders for much less than the cost of an average home in the UK.

Earlier this month, Shelter Offshore suggested that Florida property can offer solid rental returns from holidaymakers and can also be bought at bargain prices.