House prices to nosedive by 14% in New Year, predicts leading research body

first_imgHome » News » Housing Market » House prices to nosedive by 14% in New Year, predicts leading research body previous nextHousing MarketHouse prices to nosedive by 14% in New Year, predicts leading research bodyWell known for its prescient economic reports, the CEBR says prices will begin to drop dramatically once the stamp duty holiday and furlough schemes come to an end.Nigel Lewis15th September 202002,497 Views House prices will drop by nearly 14% once the ‘transitory and temporary’ measures within the housing market and economy are removed over the coming months, a leading economic research body has predicted.These measures include the ending of both the stamp duty holiday, furlough scheme and pent up property demand, plus the expected post-Covid economic downturn.The respected Centre for Economic and Business Research (CEBR) whose reports are pored over by politicians including Rishi Sunak, says the ending of chancellors’ £3.8 billion stamp duty holiday is likely to be the most significant reason why house prices will slide so dramatically.For example, Carter Jonas says that across its branch network the stamp duty holiday has ushered in weeks of strong demand, increased supply levels and higher-than-expected sales, with its southern offices recording a 51% increase in enqjuiries.stamp duty cutThe CEBR says: “We estimate that July’s stamp duty cut will have brought about a 1.2% increase in average prices and a 6.0% rise in the number of transactions compared with what otherwise might have happened,” its says.“The temporary nature of the tax reduction means that the policy’s short term effects could be even more dramatic, as people rush to complete transactions before the return to the previous stamp duty regime at the end of March 2021.”CEBR also estimates that a pent-up demand of some 150,000 delayed sales is currently pumping through the housing market, and that house prices are rising because buyer demand has rebounded faster than supply.“Our analysis suggests that prices will start to fall significantly towards the end of the year and the first half of 2021 (though there might be a short spike as the stamp duty reduction comes to an end), with average house prices forecast to be 13.8% lower in 2021 than in 2020,” the CEBR predicts.Read the CEBR report in full.cebr Centre for economic and business research September 15, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Landlords welcome ‘balanced’ re-start of evictions as tenants talk of betrayal

first_imgLandlords have welcomed today’s resumption of evictions, saying it strikes the correct balance between the needs of landlords and those of tenants affected by the pandemic.But they have also called for both sides to be given more financial help to make it through the pandemic, and a mooted second lockdown.The National Residential Landlords Association says it supports the framework put in place by the judiciary and the Ministry of Housing, Communities and Local Government.This includes limiting possession hearings to cases who tenants have been involved in anti-social behaviour, domestic violence or who stopped paying their months before Covid landed in the UK.“After a six month ban on repossessions it is important that landlords can start to take action to tackle the most serious cases,” says Ben Beadle. (left)“We continue to encourage landlords to work with their tenants to sustain tenancies wherever possible, making use of the guidance we have prepared.“To support this the Government should follow the example of Scotland and Wales and develop a stronger financial package to help tenants to pay off rent arrears built since the lockdown started.“Ministers also need to address the crisis faced by those landlords who have rented their homes out whilst working elsewhere.“The six months’ notice required in such circumstances freezes them out of accessing their own homes, effectively making them homeless.”Tenant organisations including Acorn, Generation Rent and Shelter have not welcomed the resumption of evictions. Generation Rent says it reckons there are 55,000 household who were given notice to quit before the extension of the notice period was announced by Housing secretary Robert Jenrick on 28th August, and who now face potential possession action by their landlord or letting agency. NRLA Generation Rent Ben BEadle evictions September 21, 2020Nigel LewisOne commentPossession Friend, Possession Friend Possession Friend 21st September 2020 at 6:09 pmNobody, Tenants or otherwise can have something without paying for it, SIMPLES.If tenants are in genuine need, its a Government welfare responsibility to house them, whether that be via the local Authority ( who we all know cannot cope in the slightest ) or else pay their Covid-related rent via a tenant loan.Non-Covid Possessions should NEVER have been suspended, – as they have nothing to do with the virus and everything to do with dishonesty with landlords bearing the strain, – ENOUGH.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Landlords welcome ‘balanced’ re-start of evictions as tenants talk of betrayal previous nextRegulation & LawLandlords welcome ‘balanced’ re-start of evictions as tenants talk of betrayalThe NRLA says both sides need more financial help, but Generation Rent claims 55,000 face losing their homes as possession hearings restart, albeit in a limited way.Nigel Lewis21st September 20201 Comment997 Viewslast_img read more

Scots legal firm promises a new breed of estate agency as it launches unique tech

first_imgA tech-enabled legal firm has launched that promises to disrupt both the legal profession and the estate agency sector with its new technology.Scottish firm Aberdeins has a £1 million fighting fund to reach its goal which, once the technology and acquisitions are in place, will be the biggest upset for the country’s legal scene in many years, its founder Rob Aberdein claims.He is one of the UK’s leading lawyers and has partnered with a group of leading Scottish business people to launch the new business which will grow both by creating and acquiring other businesses including estate agencies.A spokesperson for the company has told The Negotiator that it wants to  either acquire or develop estate agency businesses organically and then drive as much technology into all aspects of the offering as possible whilst preserving the traditional estate agency model.“So 100% NOT Purplebricks or Yopa but 100% the Tesla of estate agency,” the company says.DisruptiveFounder Rob Aberdein adds: “Make no mistake, our intention is to be disruptive and we know that won’t make us popular with everyone.“But this is long overdue. Others who promised change have ended up turning into exactly the kind of firm they set out to displace. That won’t happen with Aberdeins.”Aberdain has accused the current conveyancing industry and other sectors of the legal profession for being ‘arrogant and lacking both responsiveness and value for money’ when dealing with clients.The company says an announcement on its estate agency acquisition or creation plans would be made imminently.Visit Aberdeins.Read out guide to estate agency tech.Aberdeins Rob Aberdein conveyanding October 1, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Scots legal firm promises a new breed of estate agency as it launches unique tech previous nextAgencies & PeopleScots legal firm promises a new breed of estate agency as it launches unique techAberdeins’ founder says he is developing a platform that will significantly disrupt the legal, estate agency and financial services sectors.Nigel Lewis1st October 202001,215 Viewslast_img read more

Purplebricks will bag 5.7% of all instructions by 2023, predicts City advisory firm

first_imgCity investment advisory firm Zeus Capital has predicted that Purplebricks will increase its market share from 5% to 5.7% over the next two years and eventually capture 7% of the overall market.This predicted share is based on the company’s slice of property sales instructions, not sales, which the agency never publishes.Zeus Capital says the company was instructed by 53,680 vendors last year, a figure it expects to rise to 69,000 in 2023, which means it will take some 15,320 additional instructions off its traditional rivals over the next two years.Robin Savage (pictured), Zeus Capital’s property industry expert research analyst, also makes some astounding claims on behalf of Purplebricks.This includes that the agency has the largest market share in ‘many property markets’ and that in many areas of the UK it’s share of instructions is running at 10% or more.Savage says the company’s biggest challenge is to make inroads into the more upmarket areas of the UK where Purplebricks is virtually non-existent – vendors of expensive don’t like the agency’s downmarket reputation.But Savage also warns that future growth for Purplebricks, which is due to turn over £100m in two years’ time if Savage’s forecasts come true, will need to ‘adapt its pricing proposition’.This, as other commentators have highlighted, is a polite way of saying the agency will have embrace traditional estate agency fees and lessen its reliance on ‘being cheap’.“Purplebricks is exceptionally well funded for an estate agency with £70m in the bank, no debt and, it is expected 150+ instruction rolling in every day,” says Savage.Read more about Purplebricks’ growing market share. March 18, 2021Nigel Lewis3 commentsAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 18th March 2021 at 10:42 amGaining market share – does not mean it is a going concern, take Uber etc, Purplebricks is a cash guzzler that never makes profit. (Market share) Turnover is vanity – profit is sanity. Better to be a nice little village agent turning over 600k with 280k costs, that is a succesful business, not relying on rounds of external funding.The figures do not lie, annual cut off is 30th of April for Purplebricks accounts, in 2016, they lost 11.9M, 2017 they lost 3.01M, 2018 they lost 30.08M, 2019 they lost 54.9M and in 2020 – up to 30th of April they lost 19.2M.Against revenues (cash in of) 18.6M – 2016, 46.7M in 2017, 87.79M in 2018, 113.8M in 2019 and 111.10 M in 2020.Given this includes about 18M plus of revenue for houses that were listed and did not sell, in the past two years respectively – the figures on that basis would be far worse, try adding 18M to the loss figures quoted earlier. Also, I see they are going back to their ‘no commission slogan’ that really is a great USP. 🙈Log in to ReplyChris Arnold, andsothestorybegan andsothestorybegan 18th March 2021 at 10:24 amPurplebricks will take market share from those ‘bottom-feeders’ simply because of brand awareness. There are vendors that will choose any agency regardless of competence, so long as the business model isn’t entirely broken. But I seriously question whether it will ever make in-roads into the mid/high end sector, where relationships matter more than brand awareness.Purplebricks’ latest attempt to put the focus on their ‘local experts’ might help, but the cynic in me says that the message won’t be anything radically different. Just some more meaningless corporate strap-lines, designed to convince and convert.The market share enjoyed by Purplebricks isn’t a result of their disruption, or their marketing prowess – it’s the result of their competitors’ inability to share a crystal clear vision of Who they are and Why they are different. Creating market share in a commodity market only requires deep pockets – nothing else.Log in to ReplyAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 18th March 2021 at 8:21 amSoon be April, let us see if for the first time ever Purplebricks turns a profit. And moving forward if it changes its fee model, and does not charge per listing regardless of agreeing a sale, that is £18M plus a year disapperaing from its revenue stream, so that £70M in the bank will not last long having to support that cash burn. Good to see they are still relying on the agent who does not charge commission – as their strapline for those lovely expensive TV adverts, again if they flip their model – where does their one USP go …Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Purplebricks will bag 5.7% of all instructions by 2023, predicts City advisory firm previous nextAgencies & PeoplePurplebricks will bag 5.7% of all instructions by 2023, predicts City advisory firmZeus Capital analyst claims agency is the ‘No.1’ in many areas of the UK and is on track to eventually hold 7% of the whole property market.Nigel Lewis18th March 20213 Comments1,116 Viewslast_img read more

France: FREMM Frigate Aquitine Completes Three Weeks of Sea Trials

first_imgBack to overview,Home naval-today France: FREMM Frigate Aquitine Completes Three Weeks of Sea Trials View post tag: Frigate View post tag: Navy View post tag: completes FREMM frigate Aquitaine berthed at DCNS’s Lorient shipyard on Friday 25 November after three weeks of successful sea trials, during which DCNS teams pursued integration and testing of the combat system under the supervision of the French defence procurement agency (DGA). The ship is to be delivered to the French Navy in the third quarter of 2012.The trials were conducted in the Atlantic off Lorient and off Groix Island in the Bay of Biscay. The Aquitaine was crewed by French Navy personnel, with staff from DCNS conducting the tests under the supervision of representatives of the DGA and of OCCAR, the contracting agency for the FREMM programme. The work included further testing of the combat system, in particular to verify the performance of the sonar suite and continue integration of the communication systems.Following the trials, the ship made its first call at its future home port of Brest to test interfaces with the port’s communication systems and mooring facilities.“This fourth series of trials confirms that the first FREMM frigate is meeting its milestones: all the systems tested to date have met the customer’s requirements,” said Vincent Martinot-Lagarde, FREMM programme manager. “Each successive series of tests with the Aquitaine has confirmed that the programme is on track in every respect.”The success of the Aquitaine’s latest trials comes as DCNS continues to ramp up construction of the state-of-the-art FREMM frigates. With the first steel now cut for the Languedoc, a total of five FREMM frigates (Aquitaine, Mohammed VI, Normandie, Provence and Languedoc) are now at different stages of construction at the DCNS shipyard in Lorient.“With five FREMM frigates under construction at the same time, DCNS is successfully stepping up to another major challenge in naval shipbuilding,” added Vincent Martinot-Lagarde. “Importantly, the programme is also proceeding exactly on schedule and on budget as we move into full-scale series production.”[mappress]Naval Today Staff, December 01, 2011; Image: DCNS View post tag: Aquitine View post tag: Naval View post tag: trials December 1, 2011 Industry newscenter_img View post tag: FREMM View post tag: News by topic View post tag: three View post tag: sea View post tag: of France: FREMM Frigate Aquitine Completes Three Weeks of Sea Trials View post tag: Weeks Share this articlelast_img read more

U.S. Navy to Commission San Antonio-Class Amphibious Transport Dock Ship San Diego

first_img Industry news View post tag: to U.S. Navy to Commission San Antonio-Class Amphibious Transport Dock Ship San Diego View post tag: Commission View post tag: San Diego View post tag: Antonio-Class View post tag: Announces View post tag: San View post tag: Amphibious View post tag: Diego View post tag: U.S. View post tag: Transport The Navy will commission the newest San Antonio-class amphibious transport dock ship San Diego during a 10 a.m. PDT ceremony Saturday, May 19, 2012, in San Diego, Calif.The ship is named for the city of San Diego, principal homeport of the Pacific fleet, and honors the people of “America’s Finest City” and its leaders for their continuous support of the military.Three previous ships have carried the name San Diego — the armored cruiser named in 1914, the World War II-era cruiser commissioned in 1942 and the combat stores ship commissioned in 1969.Adm. Mark Ferguson, vice chief of naval operations, will deliver the ceremony’s principal address. Additional remarks will be given by Jerry Sanders, mayor, City of San Diego; Sean J. Stackley, assistant secretary of the Navy (research, development and acquisition); Vice Adm. Richard W. Hunt, commander Naval Surface Forces; Maj. Gen. Ronald Bailey, commanding general, 1st Marine Division; and Rear Adm. David H. Lewis, program executive officer – ships.Linda Winter, wife of Former Secretary of the Navy Donald C. Winter, is serving as the ship’s sponsor. In a time-honored Navy tradition, she will give the order to “man our ship and bring her to life!”Designated as LPD 22, the USS San Diego is the sixth amphibious transport dock ship in the San Antonio class. The principal mission of LPD 17 San Antonio-class ships is to deploy combat and support elements of Marine Expeditionary Units and Brigades. With the capability of transporting and debarking air cushion or conventional landing craft and augmented by helicopters or MV-22 vertical take-off and landing aircraft, these ships support amphibious assault, special operations, and expeditionary warfare missions. The USS San Diego will provide improved warfighting capabilities including an advanced command-and-control suite, increased lift capability in vehicle and cargo-carrying capacity, and advanced ship survivability features.Cmdr. Kevin P. Meyers, a native of Baltimore, is the commanding officer of the ship, leading a crew of approximately 377 officers and enlisted personnel. Upon commissioning, the USS San Diego will be homeported in San Diego, Calif., as a part of the U.S. Third Fleet.Built by Huntington Ingalls Industries in Pascagoula, Miss., the USS San Diego is 684 feet in length, has an overall beam of 105 feet, a navigational draft of 23 feet, displaces about 24,900 tons and is capable of embarking a landing force of about 800 Marines. Four turbo-charged diesel engines power the ship to sustained speeds in excess of 22 knots.[mappress]Naval Today Staff , May 18, 2012; Image: US Navy View post tag: Navycenter_img View post tag: Dock May 18, 2012 Back to overview,Home naval-today U.S. Navy to Commission San Antonio-Class Amphibious Transport Dock Ship San Diego View post tag: S Share this article View post tag: Naval View post tag: life View post tag: bringing View post tag: ship View post tag: U View post tag: News by topic View post tag: commissioninglast_img read more

Norwegian Defense Logistics Organisation, DCNS Ink Combat Management System Deal

first_imgBack to overview,Home naval-today Norwegian Defense Logistics Organisation, DCNS Ink Combat Management System Deal View post tag: Combat View post tag: DCNS View post tag: Management Share this article View post tag: Navy View post tag: Norwegian View post tag: News by topic View post tag: Naval View post tag: logistics Industry news View post tag: Defense View post tag: Organisation View post tag: Ink View post tag: deal October 24, 2012 View post tag: system On 23 October 2012, Norwegian Defense Logistics Organisation has signed a contract with DCNS in the presence of Geir Kilhus, chief of NDLO naval systems and Pierre Legros, SVP Surface Ships & Naval Systems. This agreement covers follow on technical support for the Senit 2000 Combat Management System (CMS) installed onboard the six Royal Norwegian Navy’s Skjold Fast Patrol Boats (FPBs).This contract includes activities for through life support, maintenance and further development of the CMS. The agreement will run over a 4 years period. Under this contract DCNS is committed on high levels of expertise. The Group will also provide a strong technical support.Commodore Geir Kilhus chief of NDLO naval systems said: ”NDLO is extremely pleased to sign this support-contract which will form the basis for supporting the CMS on the Skjold Class Corvettes. The contract is of outmost importance for NDLO’s management of the corvettes in the years to come. The project has been very complex and technologically challenging for all parties involved. NDLO is looking forward to partnering with DCNS in the upkeep of the Skjold- class in to the future. The scope of this 4-year contract is the frontrunner for lifetime support of the Skjold-class weapon-system.”Pierre Legros, SVP Surface Ships & Naval Systems, DCNS said: “We’re delighted that the NDLO trusts our expertise under this major programme. Our aim is to continue to provide state-of-the-art service for the Royal Norwegian Navy. DCNS possesses all the expertise, industrial means and tools to provide through life support of the system (maintenance, obsolescence management, technical facts recording and analysis…). This latest success is a further demonstration of DCNS’ industrial vigour and vitality. ”The Skjold program is led by a consortium comprising DCNS and two Norwegian contractors with DCNS acting as the combat system design authority and co-supplier. The six Skjold Corvettes are designed specifically for maritime security and safety missions in Norway’s littoral waters. The combat management system Senit 2000 is tailored to demanding environments and a reduced crew. The communications and sensor suites are fully compatible with active participation in international and NATO-led operations. This system is a multi role integrated combat system using 21st century technologies to match the 21st century operational requirements. The contract for this new capability has been awarded by NDLO (Norwegian Defence Logistics Organisation) to the Skjold Prime Consortium.With a length of around 50 meters, Skjold-class Corvettes are heavily armed for their size. The combat system features eight anti-ship missiles and a 76-mm gun that can engage several targets at once at ranges exceeding 12 kilometers.First-of-class P961-Storm was handed over on 9 September 2010, second-of-class P962-Skudd on 28 October 2010, third-of-class P963-Steil on 30 June 2011 and fourth-of-class P964-Glimt on On March 29th 2012. The next-of-class will delivered in a few days and the last-of-the class will be delivered by 2013.[mappress]Naval Today Staff, October 24, 2012; Image: DCNS Norwegian Defense Logistics Organisation, DCNS Ink Combat Management System Deallast_img read more

USS Elrod Heads to Mediterranean

first_img View post tag: heads Training & Education Back to overview,Home naval-today USS Elrod Heads to Mediterranean View post tag: Defence January 15, 2014 View post tag: News by topic View post tag: Defense View post tag: Elrod View post tag: Navy View post tag: Mediterranean View post tag: USS Share this article USS ELROD FFG 55The US Navy frigate USS Elrod set sail on a six-month deployment to the Mediterranean Sea yesterday, 14 January.The commanding officer of the ship, Cmdr. Brad Stallings, said that the ship will conduct several exercises with African nations and security operations during the deployment.This is 11th deployment for USS Elrod since her commissioning. She completed three deployments to the Mediterranean Sea, five to the Persian Gulf, one to the Adriatic Sea, and one to the Caribbean Sea.The ship belongs to the Oliver Hazard Perry-class frigates, which were designed in US in the 1970s with general purpose to escort vessels. These ships were produced in 136- meter long and 138- meter long variants.[mappress]Naval Today Staff, January 15, 2014; Image: US Navy View post tag: Naval USS Elrod Heads to Mediterraneanlast_img read more

Boustead to Build Malaysian Navy’s SGPV LCSs

first_img July 17, 2014 Authorities View post tag: SGPV LCSs Boustead to Build Malaysian Navy’s SGPV LCSs Back to overview,Home naval-today Boustead to Build Malaysian Navy’s SGPV LCSs View post tag: Boustead View post tag: build Boustead Naval Shipyard Sdn Bhd (BNS) has received an order to construct six Second Generation Patrol Vessels with Littoral Combat Ship (LCS) capability for the Royal Malaysian Navy. View post tag: asia View post tag: Naval View post tag: News by topic View post tag: Malaysian Navy View post tag: Navy According to Bursa Malaysia Berhad, the company finalized the negotiations with The Ministry of Defence Malaysia (MoD) and signed a formal agreement with a value of RM9 billion (USD 2,8 billion).Under the contract BNS will design, construct, equip, commission, integrate, conduct tests and trials, and deliver the vessels to the Navy.The delivery of the first ship is expected in 2017, and will be followed by additional deliveries every six months, The Edge Malaysia reports.[mappress]Naval Today Staff, July 17, 2014; Image: DCNS Share this articlelast_img read more

USS George H.W. Bush Embarks Final Phase of Deployment

first_imgBack to overview,Home naval-today USS George H.W. Bush Embarks Final Phase of Deployment USS George H.W. Bush Embarks Final Phase of Deployment Sailors experienced the local culture through tours sponsored by the ship’s Morale, Welfare and Recreation (MWR) division. They took part in golfing at the area’s golf courses, visiting the local shopping areas, and attending sports tournaments at Naval Support Activity Bahrain. Sailors also participated in a community relations project at the Bahrain Mobility Institute, where they helped clean and perform maintenance around the facilities.“This port visit was a chance for our Sailors to relax and enjoy the hospitality of the people of Bahrain as we enter the final phases of our deployment,” said Capt. Andrew Loiselle, commanding officer of George H.W. Bush. “This visit also allowed us to help strengthen our relationship with Bahrain.”GHWB CSG deployed Feb. 15, 2014, and is operating in the 5th Fleet area of responsibility conducting maritime security operations and theater security cooperation efforts.[mappress]Press Release, October 14, 2014; Image: US Navy October 14, 2014 View post tag: Leaves View post tag: americas View post tag: Embarks View post tag: Bahrain View post tag: USS George H. W. Bush View post tag: News by topic View post tag: phase View post tag: Naval View post tag: Manama US Navy’s Nimitz-class supercarrier USS George H.W. Bush (CVN 77) departed Manama, Bahrain, Oct. 9. View post tag: Deployment Authorities View post tag: Final View post tag: Navy Share this articlelast_img read more