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With the general election just around the corner and with the potential of a completely new government in Westminster in a matter of days, I was thinking just how this would affect the UK property market.

Economic and market commentators have differing opinions on this subject, and it’s very difficult for anyone to really know how the property market will respond to the various scenarios following May the 6th, but there are 2 main points that will have an impact, one of which has already happened.

The conservative party promised to abolish stamp duty for first time buyers on property purchases up to £250,000 if elected. The government introduced exactly this in the budget last month for a period of 2 years. It really makes no difference whose idea it was; the important thing is that this policy has without doubt had a positive effect on the property market.

Following the end of the stamp duty holiday earlier in the year we saw a significant slowing of the market, the introduction of this new policy resulted almost instantly in a strong rebound, so we can clearly see the effect this has had. I have always said that targeting first time buyers is the best way to stimulate the market. First time buyers form the market’s foundation and a strong foundation is essential in creating strength and stability further up.

If elected, a conservative government would make this policy permanent. In my opinion a very welcome move, although I suspect a Labour government would do the same as the 2 year point neared.

The Conservatives and Liberal Democrats have made their position very clear with regard to Home Information Packs (HIP’s); they would both scrap them. Strong evidence suggests that this would have an immediate impact on the number of properties coming to the market and the speed at which properties could be brought to the market. The expected increase would go some way to restoring more normal market conditions which would result in greater stability overall, and a stable property market is in everyone’s interest particularly property investors.

Steady long term growth is an essential factor in building an effective and reliable property portfolio. It is this that makes property such a safe and forgiving investment.

So who knows what the political landscape will look like on the morning of May the 7th. One thing we can be sure of though, is that a change of government will have an impact on the property market, and I am pretty certain it will be positive

Source www.w-wideproperty.com

Figures from the Office for National Statistics (ONS) have shown that the UK economy grew during the last 3 months of 2009 and has therefore officially emerged from recession. The figures show growth of 0.1% during this period which although small, certainly marks a turning point and a return to positive territory.

This is truly excellent news and now sets the scene for strengthening economic recovery throughout 2010. Prior to this the economy had contracted for six consecutive quarters.

This joins positive news announced last week that UK unemployment fell for the first time in 18 months lending further support to a turnaround in the economy. The coming weeks and months will undoubtedly bring further good news as recovery gathers speed and other sectors of the economy gain strength.

Although officially out of recession a boost in consumer spending will be essential in aiding economic recovery, and for this reason it is expected that interest rates will remain low in the short to medium term.

Worldwide Property Group

Face to face business networking has really expanded in the UK over recent years. I’m referring to local regular support groups for business people to attend. It has become a major industry with multiple networking groups opening up in most towns. Some are independent groups and many are part of national or international networking organisations.

It’s been said that part of success is about ‘turning up’ – well I think this presupposes you are ‘turning up’ to the right environment for your business. Some businesses are naturally well suited to local business networking and others aren’t.

Let’s examine the key elements of this activity so you can decide how appropriate attending a local networking group is for your business.

Expectation requirements

Networking succeeds on the basis of mutual benefit and the premise that if you give business to others they’ll be keen to give business to you. For quality business introductions a clear understanding of your business proposition by fellow members is essential.

The Types of businesses that tend to get the best return from networking have simple transactions and clearly defined products and services. For example, plumber, website developer, carpet cleaner, accountant, printer and such like all offering products and services easily understood in the marketplace.

Your fellow networking members need to understand enough about your business to recommend you to others with confidence. If your market proposition is complex it’s likely you’ll find local business networking much more challenging. This issue is compounded further if your business combines a lengthy buying cycle with large average order values. Small ongoing purchases work best for business networking because they represent lower risk.

It is one thing recommending your local plumber to service a boiler for a relatively small sum and it’s a completely different situation recommending a software developer for a complex project involving a major purchase.

Networking tips

If you decide business networking is right for you then here are a few key tips to maximise your success. You need to:

• Be prepared to attend regularly, build trust and guide fellow members regarding your ideal referral requirements
• Be prepared to give before you receive – business networking is not designed for a predatory or hunter approach
• Take a long-term view. Business networking is unlikely to be your fastest route to market

Complex businesses

For more complex business situations a different approach is required. For example, if you promote large infrequent purchases you want to be able to maximise your powers of positive influence and persuasion.

This can be achieved by creating an impact and demonstrating your expertise and specialist skills. Specialist consultancies and advisory based businesses are better suited to this approach. You can still use business networking although it needs to be more focused and selective such as arranging speaking slots. This is where you present topics within your specialist areas to a business audience in a group.

Make sure you give practical take-away value in your speech which adds credibility and demonstrates your expertise. During your talk you can offer a free report/top tips guide in exchange for business cards. This enables you to generate an enquiry list for follow up by email, phone and personal meeting.

 Written by:  Brian James.

Visit www.brianjamesgroup.com

Blog: www.business-coachinguk.com

No doubt you have your own methods for sourcing property, in my experience there are a multitude of methods, what works for one may not work for another!!

One of my tricks is to note down all the property’s for sale in one area that I’m interested in then to go back to that same publication after a couple of months and if the same properties are listed there’s a good chance they are keen to sell and open to a deal, keep doing this and after a while you will see properties that have been on the market for a very long time, these can then be your prime targets.

 If you’re marketing, don’t forget to keep a record of the results, you can waste thousands on non effective marketing, the real pro’s keep a record and drop the things that aren’t working.

 I have a few more ideas and I’ll add these at a later date, first I would like to see some of yours, together we can learn to maximize our potential

 If you are time poor is it worth getting someone else to source for you or buy leads.  What are your thoughts on this? 

 What useful information would you like to see on the Resources page of this site that may help you?

Did you have viewing lined up for last week that you have had to cancel? January is generally a busy time for Estate Agents….unless it snows!! Agents in the worst hit areas of Britain have had to shut up shop, whilst others have had to cancel viewings for properties in rural areas.

Forecasts are showing that the deep freeze will last for another 10 days, are you going to let this hamper your property plans?

There are many other things you can be doing, updating your database, evaluating your marketing material, look at your internet marketing strategy, collating all of those business cards you have collected from networking events which you have done nothing with and most importantly make contact.

And if you’re super efficient and all is up to date, share with others your techniques on this blog.

The truth about education is that if it provides what you need to succeed then it’s invaluable.  What would you pay for a course that teaches you to build a million pound portfolio for very little money in? Quite a bit I suspect .

In the past there have been courses by companies like “inside track” that have been expensive and ultimately sales pitches for those companies.

Now there are a multitude of people offering free training and advice but is it really all it’s made out to be?

I am very active in property networking and I have attended numerous training programs.

The fact is you don’t have to pay to get good advice and education if you know where to look.

I have list of some first class people and companies who will look after your every need and mostly for free.

If you contact me telling me what it is you are looking for I will happily point you in the right direction

If you have any experience of training courses or mentor programs good or bad please share it here.

It’s here at last!  According to all those in the know 2010 is the year when the recovery really gets under way.

Property prices are already increasing. Reports show an increase of 2% in 2010 and it’s only the 6^th of January!

Shops are reporting record sales (john Lewis £½ billion sales for Christmas and the new year).

Thousand of people make New Year resolutions that only last a blink of an eye.

Why?

Because they set their targets to high and expect to change their normal behavior patterns overnight.

Fact; it takes at least 3 months to change a habit

So how can you be different?

Set achievable goals that are realistic do some sensible planning and get the right guidance.

If this is the year you are going to start investing in property or adding to your portfolio or you are considering lease options, take small steps and you are more likely to achieve your 2010 resolution (this applies to any resolution you may make).

If you would like to know more about goal setting and where to start your 2010 strategy then contact me and I’ll willingly help you.

My portfolio is growing at a time when others are sat on the fence, don’t leave it to long!

Before you realize, it will be 2011 and you will have missed the boat

To your prosperity

Lease Options have been the hot topic for a while…. I’m still very excited about them and plan to do some this year.

There are still BMV deals out there but it involves being a bit strategic with your negotiation skills.  I read a great book over the Christmas holiday by Rob Moore & Mark Homer – The 44 Most Closely Guarded Property Secrets.  Very informative and it covers all you need to know to get started in property.

Let me know what your plans are for 2010.

Welcome to Oxford Property Network’s blog where we will be sharing property knowledge, day to day information property experiences, views and opinions.  We look forward to your comments.