What is a property hot spot

A.� There is no definitive definition even though the term is one of the 'buzz' phrases is of the turn of the century. It can be used to describe somewhere where property is always popular like say Surrey, but more often it refers to part of a county, town or city, suburb or district where property prices have shot up due to a rapid and often unanticipated surge in popularity among house buyers.

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At the moment demand for property is exceeding supply, so anywhere with a decent housing stock, good amenities and transport links and high employment in the immediate area has all the makings of a property hot spot. Typically a flat or house in a hot spot will have found a buyer in three weeks or, in some cases days, compared with a national average of 12 weeks.

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A. From the property prices in the estate agents' window for a start, or when every other day a leaflet drops on the mat starting with the words 'Are you considering selling your property... '.

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Other tell-tale signs are when there is barely an empty or redundant building to be found, there seem to builders or painters and decorators working in every street, local pubs and shops are revamped and delicatessens and restaurants start replace corner shops and fish and chip shops.

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A.� If it was that easy we'd all be rich. Even the most highly successful property market analysts admit there is a large element of chance involved. For instance, trendiness is not a bottleable commodity, but if people think like-minded people are populating a particular, usually urban area, that can be enough to set the ball rolling.

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A. It is always going to be a risky business. If you try and anticipate a boom area and it doesn't happen you won't make any money, and, like anything else, fashions come and go. Probably the best way to approach it is to find an area you wouldn't mind living in yourself. If you feel that way, chances are there will be plenty of others who feel the same way.

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