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Property News 2010 (latest month at top, scroll down for earlier reports)

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Is the Private rented sector set to grow?

The Tenure Trends in the UK Housing System study indicated that the Private Rented Sector (PRS) could soon outgrow the social rented sector, as buy-to-let investor numbers grow. Did you know that if the PRS continues to grow at the same rate it will be larger than the social rented sector by 2013? For the first time in 100 years the number of owner-occupier homes in the UK has declined and the PRS has increased significantly. But will this trend continue? We take a quick look at some of the factors that will shape the future of the PRS. More information Here August 2010 Back to top

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Holiday home owners to lose tax breaks on holiday lets

The tax advantages on furnished holiday lets were reinstated by the Coalition after the previous Government abolished them in April.. George Osborne the Chancellor of the Exchequer reversed the measure in the June Budget saying he wanted to help small businesses operating in the tourism industry.However, the Treasury has now said it intends to make it much tougher for home owners to qualify for the breaks.The move comes as the Government prioritises reducing the country’s deficit. More information Here August 2010 Back to top

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The effects of the Commercial Property Market in Dublin, Ireland

Concerns of the future of Arnotts, one of Ireland's oldest department stores. It has been reported late last week the Dublin department store Arnotts (pictured left) has had the Anglo Irish Bank and Ulster Bank moving in to take control of it. The store employes 950 employees in Henry Sreet, Dublin and the banks are the backers of "Arnotts Northern Quarter Development". This has been put on hold because of the economic situation in Ireland. More information Here August 2010 Back to top

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New home sales fall for second month in Australia

The Sydney Morning Herald has reported that New home sales fell for a second straight month in June to a 17-month low, as rising interest rates continued to erode demand. The Housing Industry Association's home sales index dropped 5.1 per cent in June, following a 6.4 per cent drop in May, as the lingering effects of pricier loans acted as a deterrent to new buyers entering the market.

Victoria fared the worst, with house sales sliding 10 per cent, while New South Wales posted a 2.2 per cent fall. Sales of houses dropped 5.2 per cent in Western Australia and 5.1 per cent in Queensland, HIA said. In South Australia new home sales went backwards by 4.2 per cent.Nationwide, private house sales also dropped to a 17-month low, falling 6.6 per cent in June to 6,847. Meanwhile, purchases of multi-unit dwellings increased by 10.3 per cent, HIA said.August 2010 Back to top

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Landlord insurance is a cheap essential says Simple Insurance

New landlords who are waiting out the property market by renting out their homes should make sure they have the appropriate insurance. This is according to one comparison site, which notes that landlord insurance can be bought for under £100 from Simple insurance More information Here July 2010 Back to top

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NLA Property Woman of the Year 2010 is Juliet Ashton-Taylor

The 24th June 2010 saw the country’s leading property entrepreneurs gather together for the prestigious NLA Property Women Awards 2010. Competition was fierce, but it was Juliet Ashton-Taylor, a landlord from Gateshead, who stole the show to claim the title of NLA Property Woman of the Year 2010. The Awards were presented by property addict and TV presenter Melissa Porter, who praised the winner; “Juliet is a true ‘rags-to-riches’ story and she fully deserves this award." More information Here June 2010 Back to top

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HomeLet and Martin & Co offer new cover for Landlords

HomeLet, have developed an exclusive new Rent Guarantee product for landlords, called the Martin & Co Promise. The new product combines comprehensive cover and extremely competitive prices to provide landlords with market leading protection for their rental income,Commenting on the new product HomeLet Managing Director, John Boyle, said "Last year we saw an increase in the number of reported illegal evictions by landlords. Unfortunately I expect this figure to increase again in 2010, which is disappointing. At HomeLet our expert property legal specialists deal with the arrears in a professional manner, ensuring that the tenant is treated fairly whilst the landlord still receives the rent. In those cases where court proceeding are needed we take care of everything and support the landlord every step of the way. More information Here June 2010 Back to top

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There are a record breaking number of renewals for Martin & Co

The Martin & Co network have had many reasons to celebrate over the past year, with record breaking results and their domination of the industry’s national awards. However 2010 has given some of the network’s award winning offices an additional reason to toast to the future. Ten Martin & Co offices across the UK have reaffirmed their commitment to the UK’s no.1 letting agent by renewing their franchise agreements for another 5 years More information Here June 2010 Back to top

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NLA welcomes Government re-think on draconian shared housing rules

Following a campaign by the National Landlords Association (NLA), the Government has today announced it will be looking to end blanket shared housing planning regulations in favour of a more targeted approach.Local authorities will need to tailor recent shared housing planning rule changes to areas where high concentrations of shared housing are causing problems. More information Here June 2010 Back to top

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Mundys in Lincoln strenghten Management Team

Award-winning estate agency Mundys in Lincoln has strengthened its senior management team by making two of its most committed and talented staff members associates. Mundys was named the Best Estate Agency in Lincolnshire for the second year running after winning five stars in the prestigious Daily Mail UK Property Awards in October 2009. Mundys Residential Lettings Department has been ranked as the third-best letting agents in the East Midlands region at the recent UK Estate Agent and Letting Agent of the Year Awards 2010 More information Here June 2010 Back to top

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HomeLet sponsors Bloom Apprenticeship Academy for Estate and Letting Agents

HomeLet, the specialist land and tenant insurance provider and tenant referencing service, has announced that it is to sponsor the Bloom Apprenticeship Academy for Estate and Letting Agents The Apprenticeship Academy, which launches with its first intake of young people in October in Birmingham, aims to deliver the next generation of well educated, commercially-aware estate and letting agents to help promote professionalism in the industry. More information Here June 2010 Back to top

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Well-meaning but flawed" - Register of landlords to be ditched in UK

The "well-meaning but flawed" national register of landlords will not be brought forward by the current Government, according to Housing Minister, Grant Shapps MP, speaking in the House of Commons today. Earlier in the week, the Minister had suggested that a national register could well be "another HIPs" and would not encourage further investment in the private-rented sector. More information Here June 2010 Back to top

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UK Housing Minister Grant Shapps promises 'no more red tape' for private landlords

Housing Minister Grant Shapps has today promised England's one million landlords that the Government has no plans to introduce new regulations on the private rented sector. New regulations were proposed by the previous administration in response to the Rugg Review of the Private Rented Sector, but have been judged by the new coalition to introduce too much additional red tape. These included a National Register of Landlords, regulation of letting and managing agents, and compulsory written tenancy agreements.More information Here June 2010 Back to top

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High Wycombe Landlord fined for unsafe house

Itlaf Hussain was ordered to pay £6,758 in fines and costs over the condiion in a terrace house in Oakridge Road, High Wycombe, Bucks that he had let out.There were 24 separate electric defects including a 13amp power point in the shower cubilcle, no electrical earthing for the property and bare live wires sticking out of an outside wall. The soil pipe from the WC had a hole in it and was bound in gaffer tape and not properly connected to the drainage system and leaked. More information Here June 2010 Back to top

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ARLA has appointed Sue Hughes-Thomas as president

ARLA has appointed Sue Hughes-Thomas as president. Having become a letting agent 24 years ago, Mrs Hughes-Thomas then worked her way through the ranks of ARLA's regional, national and divisional councils. Speaking about her appointment Mrs Hughes-Thomas said that "I am honoured and excited at becoming ARLA's next president. I'm looking forward to promoting ARLA's remit far and wide, showing people why using an ARLA-licensed agent is so important put simply, it's the only way to ensure both landlord and tenant are protected. More information Here June 2010 Back to top

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Rents start rising again in the UK as demand outstrips supply

A lack of supply is pushing rents higher signalling a revival in the lettings market, says the latest RICS Lettings Survey. The net balance of chartered surveyors reporting rising rather than falling rents rose from zero to 30 percent - a marked contrast to April last year when 58 percent more chartered surveyors were reporting falling rents, an all-time low for the survey. Surveyors are optimistic that rents will continue to rise with the rental expectations net balance climbing to 36 percent - the highest figure recorded in the survey's history More information Here May 2010 Back to top

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Irish Landords under pressure from falling rents

The Daft.ie report has described the year on year "collapse" in rental income as "pretty shocking". According to the report "Still a renter’s market, as supply outpaces demand and that this isn’t going to change so long as supply outpaces demand." Rents fell by just under half a percent in the first quarter of 2010, according to the latest report published by the property website, Daft.ie. Having risen in January, rents fell back slightly in each of the three following months and the average rent nationwide now stands at just under €760 More information Here May 2010 Back to top

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HIPS are history but EPC's are not

The Government has scrapped Home Information Packs (HIPs) in the hope of kick starting the housing market in England and Wales*. The requirement to provide a HIP when selling a home was suspended on 21 May 2010 and will be abolished shortly. This means that homes put on the market on or after 21 May 2010 will no longer need a HIP. Landlords and homeowners will still need to provide an Energy Performance Certificate (EPC) before selling or letting homes More information Here May 2010 Back to top

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NLA Campaign regarding Capital Gains Tax -May 21st 2010

Capital Gains Tax - Stand up and be counted -Treasury plan Capital Gains Tax raid Following a General Election campaign, where housing was barely mentioned, the new Government should be focused on encouraging investment in residential property. The NLA - National Landlords Association has just emailed Landlords on it mailing list about their latest campaign. More information Here May 2010 Back to top

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HIPS - Home Information Packs suspended 20th May

The new coalition Conservative Liberal Democrate government has suspended controversial home information packs today. Communities Secretary Eric Pickles and Housing Minister Grant Shapps suspended the packs, known as HIPs, with immediate effect pending primary legislation to permanently abolish them. Both parties had stated in their coalition agreement to get rid of the packs, which were introduced by Labour in 2007. May 2010 Back to top

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Landlords must be included in new Capital Gains Tax exemptions

Capital gains from the sale of residential property must be included in the “generous exemptions” if Capital Gains Tax (CGT) is increased, according to the National Landlords Association (NLA). Following a General Election campaign where housing was barely mentioned, the new Government must be focused on encouraging investment in residential property. The new CGT regime will act as a significant disincentive for landlords considering further investment. More information Here May 2010 Back to top

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Having difficulty letting your holiday rental in 2010?

Has the downturn of the world economy finally caught up with the self catering holiday rentals business? 2010 could prove to be a difficult year. At jmlvillas.com we are still seeing a lot of copy email enquiries going to property owners, however some of the feedback from owners is that it is quieter than usual. People have concerns about jobs and flight disruption. British Airways cabin crew are planning more strikes later in May and the Volcanic ash problem from Iceland is not blowing away.More information Here May 2010 Back to top

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Freak waves cause havoc in the Nice area

Massive waves have hit the French Riviera between Nice and Cannes causing major material damage to the densely-populated coast on Tuesday afternoon 4th May. The freak weather struck as the region is preparing to host the 63rd Cannes Film Festival.More information Here May 2010 Back to top

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County Down estate and lettings agency Pinkerton Murray Strikes Gold

Pinkerton Murray has won has been recognised for its excellent customer service in the 2010 Estate Agent & Letting Agent Awards (Estas). It achieved the highest possible accolade, winning gold in both the estate agents category and letting agents category for Northern Ireland. More information Here May 2010 Back to top

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Lighthouse Property Services of Lincoln offers broadband

Lighthouse Property Services in Lincoln is the first lettings firm in the UK to offer tenants an exclusive wireless broadband service that can be used both at home and throughout the city for free and all on the same network More information Here May 2010 Back to top

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Rising Rents Pose Potential Risk for Landlords in the UK

Following the recent RICS residential lettings survey and FindaProperty Rental index which both reveal an increase in rental prices HomeLet is urging landlords to protect their monthly income. According to Managing Director John Boyle continued increases could cause problems for landlords further down the line as people looking to rent may not be able to afford to do so or may struggle to make their monthly rental payments. More information Here April 2010 Back to top

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Letsure sets up insurance deal with Hamptons Letting Agents

Lettings insurance specialist Letsure has agreed a deal to provide insurance products to landlord customers of residential agency Hamptons International. The new product, which covers rent and legal protection, will cover landlords against losses that occur as a result of unforeseen events, such as tenants failing to pay their rent or breaching the terms of the tenancy. More information Here April 2010 Back to top

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AIIC Inventory Clerk of the Year Award

The Aassociation of Independent Inventory Clerks (AIIC)announced the winner of the 2010 Award for Inventory Clerk of the Year. Emma Goddard (pictured right receiving her award from AIIC Charman Patricia Barber) of EG Inventories, Bournemouth. She received a cheque for £100. The AIIC is the UK's largest membership organisation for independent inventory clerks. See: Professional Property Organisations March 2010 Back to top

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HomeLet Launches £500 Prize Draw for Landlords

Great news if you are a landlord with a HomeLet insurance policy. To celebrate the successful launch of Landlord's Insurance+ specialist insurers HomeLet are giving landlords the chance to win £500 of B&Q vouchers. More information Here March 2010 Back to top

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Is the Carlton Hotel in Cannes, France for sale?

Is the Carlton in Cannes up for sale? Passing it earlier this week it had a large BNP Paribas Real Estate sign hanging from the front. It does not appear the hotel is being advertised for sale, but Cannes is hosting the 2010 MIPIM conference between the March 16 to 19th March 2010. This is the large gathering of international property professionals. According to a report in "The Daily Telegraph" earlier this week. "The Irish Times" Thursday 18th March Property section had a heading "No Cannes do for Irish" saying that ", only a handful of Irish are in attendance. More information Here March 2010 Back to top

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Many UK Landlords facing fines

The March / April edition of "Landlord & Buy-to-Let Magazine" It has numerous reports of landlords being fined like - Oxfordshire Landlord fined for ignoring gas safety, Landlord fined for unsafe conditions - A landlord has been fined £15,000 after Lewisham Council prosecuted him for leaving his rented property in unsafe and dangerous conditions. Record fine for landlord - A Haydock landlord has been fined £6,000 by St Helens Magistrates who heard a catalogue of housing hazards at his rented property. Landlord's fine for housing offences reduced - Following an appeal in the Crown Court on Thursday 7th January 2010, a Sneinton landlord has had his near maximum fine of £62,061 for three HMOs - Houses in Multiple Occupation licensing offences and three management offences reduced by half and made subject to a 12 month custodial sentence if the fine is not paid within 12 months. More information Here March 2010 Back to top