Grainger, the largest residential owner and broker in Britain, said that it remains bullish on the housing market. Although it remains sluggish, there are opportunities to buy real estate at very attractive prices. "We have around 2.8 billion pounds of assets under management," said chief executive Andrew Cunningham.

With the tougher market conditions present for everyone, Grainger is utilizing its strength as a long time property owner to make well-priced acquisitions and continue to consolidate its growth.  Interest rates are low enough to increase buying power for anyone purchasing real estate, and that includes Grainger.

Cunningham commented in a statement: "Our portfolio is continuing to prove to be resilient, despite price growth in the general housing market slowing in the last few months reflecting the economic uncertainty."

Grainger said that business in the near future is good despite a soft market, with 67.6 million pounds of buys in the process of being acquired and 154.8 million pounds of sales completed, exchanged or in solicitor’s hands.

During the period of the last 10 months ending in July, the company had sold 593 vacant units at a sales margin of 43 per cent, compared with a year earlier - sales were around 625 units at a margin of 35.5 per cent.

Grainger now refurbishes more properties before putting them on the market for sale. There are good margins in properties which have gotten up in age and then modernized before selling.

They will continue to identify attractive acquisition opportunities and their financial capacity coupled with management expertise will enable them to take full advantage of properties they believe will deliver long term shareholder value.

Grainger shares closed yesterday at 114.3p.