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The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Make Hay...

Stewart Stabands offers his latest monthly insight into residential property trading

I have a property related newspaper headline framed in my office entitled 'Buy Buy!' It's dated March 2009. I framed it because it represented a significant time when the property market had finally come out of its stalemate position. It was a time when buyers had slowly trickled in due to the heavy discounts sellers were offering. From September 2007 it was the first piece of positive property news. How things have changed since then.

My Bromley house went under offer for £222,500 bursting through the ceiling price for two beds at £215,000. This, in my view, is not just down to my great finish! It is also down to the raging house price boom, well at least in Greater London anyhow. I'm currently doing a loft conversion on my house in South West London, which will add a master bedroom with en-suite. It will add a whopping £165,000 to the value! In 2011, the figure would have been £70,000.

For the traders and developers out there this is a window of opportunity to make some healthy returns. But we mustn't forget the pontificating doom-mongers out there, especially one economic paper that keeps spamming me with the emotive lines that we're heading for another crash. I won't let them stop me buying deals but only because I believe I have been fortunate enough to have solid foundations which kept me afloat in the fallout of 2008. I had an income from my portfolio and a war chest from previously sold properties. I keep my eyes and ears open and take on board all opinions but I will buy in any market.

In the BMV market there are always deals no matter what the market conditions are. As long as I keep my foundations strong it's my hope it will reduce the probability of going under. To rely on just one strategy I believe is opening myself up to the possibility of never going on holiday again!

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