US property prices are expected to "firm up" next year and the financial markets are expected to make "a significant rebound" over the next 12 months, according to asset manager Edmond de Rothschild.

The French arm of the LCF Rothschild Group, published an unusually sanguine report yesterday on the US real estate markets and the global economy. The report said the real estate sector is now heading for some sort of stabilisation, and by next year property prices will have staged a recovery.