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December 20, 2019
Given the frenzied political backdrop, 2019 was quite a year for the UK’s property market. Investors didn’t go into their shells as many had predicted but saw the uncertainty as opportunity. Which, as many in our industry will know, is often the right thing to do.
Values have been depressed and buyers have been firmly in the driving seat pretty much since the EU Referendum result in 2016. As a result, anyone seeking to add to their portfolios has been having a field day of it. Buy low and sell high applies to the property, as much as to the stock, market.
As well as adding to their portfolios, we’ve seen a lot of investors manufacturing value out of their units this year through light and heavy refurbs. Even when the property market is static and sidewards-moving, savvy investors can still extract returns from their portfolios.
And the year, of course, has finished on a high. Corbyn and his GCSE Marxism pals have been politely told by the British electorate to zip up and will soon be heading to the back benches and total political irrelevance. A few may miss them but the many certainly will not, to use the language of their doomed slogan.
Meanwhile, in this week’s Queen’s Speech Boris Johnson laid out a vision that has got people up and down the country really excited. Now he and his colleagues have to deliver because, as the PM knows all too well, a lot of Labour voters have merely ‘lent’ him their vote.
Either way, we’re entering a new decade with a spring in our step and a certainty around Brexit that was unthinkable just a month or two ago. The performance of the Pound since last Friday’s General Election result says it all: there is a real optimism about what lies ahead.
Lastly, I just wanted to say a big thanks to all our #3rdGen broker partners for the deals they have sent our way over the past 12 months and to everyone else we work with — solicitors, valuers and surveyors — to get money out of the door. And, of course, to our incredible @OctaneCapital #3rdGen team, who I believe are the absolute best in the business!
So, on behalf of the whole Octane #3rdGen team, have a very Merry Xmas and a Happy New Year. We look forward to seeing you all in 2020 for a year that is shaping up to be something very special.
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