Pennington

Supply increase sees return of buyer’s market

NewsBot — Wed, 10 Mar 2010 08:36:06 +0000

The balance between supply and demand shifted toward the supply side as the new instructions net balance outpaced buyer interest for the second consecutive month, according to RICS latest UK Housing Market survey.

New instruction and new buyer inquiries rebounded in February following a weather-skewed dip in January with both net balances turning positive. For the second consecutive month the new instructions net balance outpaced the new buyer inquiries net balance - the first sustained shift towards supply for two years.

Will bond yield increases damage property recovery?

NewsBot — Wed, 10 Mar 2010 08:34:58 +0000

Beyond the political and economic fallout of the Greek debt crisis and turmoil in the government bond markets in Europe, real estate investors are pondering the implications for the property sector.

A new report by CB Richard Ellis – which considers whether increases in government bond yields in a number of European countries will negatively impact property market recovery – suggests that the measures taken to restore public finances have the most potential to impact the real estate sector in the short to medium term, but that these impacts are more remote than might be expected and most likely to affect secondary property rather than prime.

Bug unleashed to kill foreign home-wreckers

NewsBot — Wed, 10 Mar 2010 08:33:24 +0000

An insect is to be released in the UK to stop the spread of the non-native invasive plant Japanese Knotweed which can destroy property and costs the economy more than £150million a year to control and clear.

Japanese Knotweed is listed by the World Conservation Union as one of the world's 100 worst invasive species. It grows vigorously at a rate of up to a metre a month, including through concrete and drains, causing damage to roads and buildings and costing millions of pounds to remove each year.

Tenant power changes future face of social housing

NewsBot — Wed, 10 Mar 2010 08:31:48 +0000

Use of a new approach to tenant involvement and performance management - which gives tenants the power to challenge their housing organisation and drive up performance - is examined in a report commissioned by the Tenant Services Authority (TSA) and written by the Chartered Institute of Housing (CIH).

The report claims that this new approach - resident-led self-regulation - has the potential to change social housing for the better and give real power to a group of customers who have little consumer choice. It could also cut down on the need for external intervention.

Social housing rent arrears and eviction rates down

NewsBot — Tue, 09 Mar 2010 09:04:09 +0000

Social housing rent arrears and evictions are down, according to research by the Tenant Services Authority (TSA).

Its statistics show an improving picture on how housing associations, who are responsible for 2.4 million homes across England, deal with social housing tenants who have fallen behind on their rent.

The findings show that at the end of 2007-08, 5.3% of all rent due to landlords was unpaid, down slightly from 5.6% in 2005.

Chester Square is UK’s most expensive street

NewsBot — Tue, 09 Mar 2010 09:03:11 +0000

Chester Square in Belgravia, London, is the most expensive street in England and Wales, according to the latest Mouseprice Street Rankings.

This is the second year in a row that Chester Square - where the average property is worth £6,596,000 - has been in the No1 spot.

Landlords back stronger buy-to-let mortgage regulation

NewsBot — Tue, 09 Mar 2010 09:02:17 +0000

The majority of landlords support stronger regulation of buy-to-let mortgages and advice, according to a survey conducted by LSL Property Services.

But not all landlords are the same, so the Treasury and FSA must resist the temptation to impose "one size fits all" regulation, David Brown, LSL Commercial Director, warned.

Conservatives would have no impact on UK housing market

NewsBot — Tue, 09 Mar 2010 09:01:13 +0000

A Conservative Party win at the forthcoming general election will not make any difference to house prices and mortgage availability.

That is the verdict of 53% of Savills Private Finance clients.

Food and drink accident rate worse than construction

NewsBot — Tue, 09 Mar 2010 08:59:46 +0000

Construction is often seen as one of the most dangerous industries to work in. But official figures from the Health and Safety Executive show that people working in food and drink manufacturing are more than one and a half times (1.6) more likely to be injured at work than construction workers.

"Construction has a reputation for being very dangerous," said Brian Wallace, head of Aviva Risk Management Solutions (ARMS).

Commercial property enjoys capital growth – CBRE

NewsBot — Mon, 08 Mar 2010 06:38:40 +0000

Commercial property enjoyed a re-acceleration of capital growth in February, bouncing back after a slower than expected start to 2010.

According to the latest CB Richard Ellis Monthly Index, capital values rose by 1.4% in February - producing total returns of 2.0% for All Property.

Central London offices once again were the best performers over the month, with total returns of 2.6% and capital growth of 2.1%. Shopping Centres also performed strongly, with a total return of 2.4% and capital growth of 1.8% in February, finally enjoying some catch up after a very weak 2009.