Communities Secretary Eric Pickles has lost a court battle over his decision to scrap the last government’s regional housing targets in England.

The move was ruled unlawful by the High Court.

Housing developers had asked the court to block it, arguing Mr Pickles had abused his powers.

Mr Pickles had said he wanted to return planning powers to local communities. An aide said that no appeal was planned.

The ruling means that controversial plans for building thousands of new homes in each English region could be back on – but a government source said the court ruling was only a “technicality” and would not change anything.

That is because legislation will be published next month that will deal with the issue, he suggested.

‘Parliamentary democracy’

Housing developer Cala Homes (South) Ltd argued that Mr Pickles was wrongly seeking to revoke regional planning strategies through discretionary powers.

Mr Justice Sales, sitting in London, ruled that the Cala Homes argument was “well founded”.

The developer argued primary legislation should have been introduced, giving MPs the opportunity to debate an issue crucial to future planning in England.

It claimed Mr Pickles’s decision “struck at the heart of parliamentary democracy”.

The government argued that regional strategies were made by regional assemblies, an undemocratic tier of regional government, and this undermined directly elected local authorities.

Ian Ginbey from Cala Homes’ lawyers, Macfarlanes, said the legal challenge to Mr Pickles’s decision “wasn’t an attack on localism at all”.

But he said scrapping the targets without anything to replace them had “left a policy vacuum, caused confusion throughout the industry and directly resulted in proposals for tens of thousands of new homes being abandoned”.

He conceded that the High Court ruling might only succeed in delaying the scrapping of the targets until next autumn, when planned new legislation is likely to come into effect.

‘Embarrassing questions’

But he said it could mean that many housing developments rejected on appeal since the targets were scrapped in July could now be back on the cards.

“What today’s judgement identifies is that he (Mr Pickles) wasn’t entitled to make the decision in the way that he did,” Mr Ginbey told BBC News.

David Orr, chief executive of the National Housing Federation, which represents housing associations, said the decision to get rid of the targets was “a hasty and damaging move, which has already seen plans for over 180,000 homes scrapped”.

Shadow communities secretary Caroline Flint said the court ruling “raises embarrassing questions about the way Eric Pickles ripped up plans for desperately needed new homes”.

She added: “The coalition’s housing policies are doing little to meet the aspirations of the hundreds of thousands of families who want to live in a decent home.”

The court’s decsion was welcomed by the Home Builders’ Federation which said it would help local authorities plan new housing developments using the old targets while a new “locally-based” planning system is put in place over the next two years.

But junior communities minister Bob Neill said it “changes very little”.

“Later this month we will be introducing the Localism Bill to Parliament, which will sweep away the controversial regional strategies.

“Top-down targets don’t build homes – they’ve led to the lowest peacetime house-building rates since 1924.

“The government remains firmly resolved to scrap this layer of confusing red tape.

“Instead, we will work with local communities to build more homes. This was a commitment made in the Coalition Agreement and in the general election manifestos of both coalition parties. We intend to deliver on it.”

The court heard Mr Pickles decided in July to revoke the regional strategies, which include house-building targets, introduced under the 2009 Local Democracy, Economic Development and Construction Act.

James Eadie QC, who represented the Communities Secretary, argued in court that Mr Pickles had power to revoke the entire regional strategy tier of planning policy guidance and was entitled to do so as it was not operating in the public interest.

Mr Pickles has been at the forefront of the government’s efforts to decentralise power – and has fought a series of high-profile battles with quango and council bosses over alleged extravagance with public money.

Link to original BBC article

Macquarie Bank is providing the £200 million warehouse facility. The Group’s intention will be to use the facility to warehouse loans prior to arranging term funding in the mortgage-backed securitisation markets, where the Group has considerable experience stretching back over 20 years. There has been increasing evidence of a recovery in the asset-backed market with numerous securitisations being launched by a number of major UK and European banks.

Paragon has held bond investor roadshows during 2010 and there is strong investor demand for Paragon residential mortgage-backed securities given the excellent performance of its historical mortgage assets. The number of accounts more than three months in arrears across Paragon’s portfolio of buy-to-let loan assets has continued to fall and is currently 0.86% of the book. This is significantly below buy-to-let market peers and also the wider mortgage market.

Lending strategy
It is Paragon’s aim to return to its market-leading position in the buy-to-let sector, specifically targeting professional landlords. This is an area of the market currently under served by buy-to-let lenders and one in which Paragon is well positioned given its expertise and experience in buy-to-let lending.

Paragon will offer a range of buy-to-let products through the Paragon Mortgages brand.
Paragon will continue to maintain a prudent and risk-averse approach to new lending, placing greater value on long-term customer relationships, credit quality and profitable products rather than simply market share.

This strategy has proved successful for Paragon and is a driving factor in the excellent credit performance of the Group’s assets.
During the eleven months to 31 August 2010, only £231.1 million of Paragon’s buy-to-let loan book has redeemed and the size of the warehouse facility, and its revolving nature, will provide the basis to support the expansion of the lending business.

Buy-to-let market
Competition in the buy-to-let mortgage market has reduced dramatically since the start of the credit crunch and the new lending sector has been dominated by just two lenders, accounting for up to 80% of new business written.

The number of available buy-to-let products has fallen from over 3,600 in July 2007 to under 280 in September 2010. Many of these products are focused towards the novice or small scale landlord, failing to cater for professional landlords’ more complex financial needs.

Strategy
The acquisition of loan portfolios and loan servicing of third party clients will remain a core part of the strategy going forward.

Trading
In addition to announcing its return to new lending, Paragon also today gave a trading update for the eleven months to 31 August 2010. The Board expects operating profits (before exceptional and fair value items) for the year to 30 September 2010 to be above the current market consensus forecast (£58.2 million) and around the upper end of analysts’ current expectations, which range from £40.5 million to £65.0 million. In addition, as previously disclosed, pre-tax profits will include an exceptional profit of £5.7 million on the purchase of Group securitised bonds.

Commenting on today’s announcement, Nigel Terrington, Paragon Group’s Chief Executive says:
“Despite the difficult environment over the past three years, Paragon has remained steadfast in its commitment to return the business to new
lending when conditions permitted.

“We are delighted to have secured funding on acceptable and sustainable terms to enable us to return to new lending and to work with Macquarie on this significant transaction. They are an ambitious and innovative institution and this transaction demonstrates clear evidence of their intentions to develop a leading role in the UK debt and equity markets.

“This is not only a significant development for Paragon; it is also significant for the wholesale funding and specialist lending markets. Paragon is the first independent non-deposit taking mortgage lender to secure funding to enable it to return to new lending. This shows that investor confidence is returning and the wholesale funding markets are recovering.

“Competition in the mortgage market has been sorely lacking, particularly as specialist lenders have largely been unable to secure funding or Government support to enable them to compete against high street lenders. Nowhere is this more evident than in the private rented sector where tenant demand is strong and expected to grow.

This is an increasingly important part of the UK housing market and competition is vital for a healthy and vibrant buy-to-let market and we aim to provide that competition.”
ENDS

For further information contact:
Paragon: Nigel Terrington
Chief Executive
0121 712 2024
Fishburn Hedges Andy Berry 020 7544 3044 / 07767 374421
Jane Padgham 020 7544 3061
Michelle James 020 7544 3056

* seasonally adjusted

Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said:

“The price of a typical UK property rose by a seasonally adjusted 0.5% month-on-month (m/m) in May, following a 1.1% increase in April. The smoother 3 month on 3 month rate of increase rose from 1.1% in April to 1.7%, as February’s fall in house prices dropped out of the most recent three month average. The annual rate of house price inflation dropped from 10.5% to 9.8%, which reflects the weaker pace of increase in May 2010 relative to May 2009. Since reaching a trough in February 2009 – following a drop of 19.3% from their October 2007 peak – house prices have risen by 12.2% and are now just 9.5% below the October 2007 peak.

“Housing market conditions remain characterised by thin transaction volumes and a relative scarcity of properties for sale, despite a slow return of more sellers in recent months. The current supply-demand balance on the market is still consistent with relatively stable to modestly upward trending prices.”

Impact of capital gains tax changes on house prices depends on timing of implementation

“The coalition agreement between the Conservatives and Liberal Democrats contains plans to increase the rate of capital gains tax (CGT) charged on the disposal of non-business assets, potentially including second homes and buy-to-let investment properties. Currently the CGT rate on such assets is 18%, and the coalition plans are to raise the rate to a level “similar or close to those applied to income.” Precise details, however, will not be known until the Emergency Budget announcement on 22 June.

“With regard to what the short-term impact will be on the housing market and house prices, the key question is around the timing and implementation of any CGT increase. If there is a significant time lag between the announcement of the increase and its actual implementation, then some second home owners and buy-to-let landlords may decide to sell in advance of the higher rate being introduced. Such a development could lead the supply-demand balance to shift more in favour of buyers and relieve the current upward pressure on house prices. However, it is difficult to know with any precision how many people would bring forward a decision to sell.

“The incentive to try to beat the higher tax rate is most pressing for those who have owned their properties for a relatively long period of time and therefore have relatively large unrealised gains. Conversely, those who bought their second homes or investment property within the last five years have little incentive to sell early in order to beat the tax change. House prices have only risen back to their mid-2006 level and the first £10,100 of capital gains is currently tax free.

“If the new rate comes into effect immediately on 22 June, then supply conditions are unlikely to be affected materially as any potential sellers would not have time to react.

“There are some examples of where tax changes have had a significant short-term impact on the housing market. Most prominent was the March 1988 announcement to end double Mortgage Interest Relief At Source (MIRAS) for cohabiting couples. The implementation of the tax change was postponed until August of that year, which prompted a rush of buyers to try to beat the deadline. The result was a temporary surge in property values, with house prices increasing by 18% between Q1 1988 and Q3 1988 alone.

“However, the most recent change in CGT rates announced in the 2007 Pre-Budget Report did not have any discernable impact on the supply of property on the market. At the time, the existing CGT rates of 24-40% – depending on taper relief and income status – were cut to a flat rate of 18%. New instructions to sell property remained very low even after the tax changes were introduced, although this may also have been due to the very weak market conditions prevailing at the time.”

Monthly UK House Price Statistics

* seasonally adjusted

Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said:

The price of a typical UK property rose by a seasonally adjusted 1.0% month-on-month (m/m) in April, leaving house prices 10.5% higher than a year earlier. Over the lifetime of the last Parliament (May 2005 to April 2010), house prices have risen by 6.7%. This compares to a 13.5% increase in the consumer price index, the official target measure of inflation.

April’s figures show the first double-digit annual growth in UK house prices since June 2007. The year-on-year rate in this month’s figures, however, received an additional boost from the fact that April 2009 was one of the weaker months last year. Given the very strong performance of house prices from May 2009 onwards, it will take monthly increases in excess of 1% for the annual rate of inflation to be maintained in double digits going forward. The smoother three month on three month rate of inflation edged down further from 1.5% in March to 1.1% in April, which primarily reflects the impact of February’s 1.0% decline in house prices. April’s figures leave UK house prices exactly 10% below the October 2007 peak.

For further information please see  April 2010 report (PDF 64KB).

The NAEA has long campaigned for a major rethink on stamp duty – which it believes to be a tax on aspiration. Today in the final Budget before the election, Mr Darling listened and raised the threshold to £250,000 from midnight tonight.

Peter Bolton King, chief executive of the NAEA, said: “For thousands of first time buyers the dream of getting onto the property ladder was slipping out of reach.

“This announcement has added a new rung to the property ladder, one within reach of thousands of young families.

“We have long argued that stamp duty is a tax on aspiration that smothered the natural demand of the market. We still believe that more reform is needed and there is more work to be done, but this is a good first step – a major victory for first time buyers.”

The NAEA has for years called for a major reform of stamp duty land tax, beginning with the threshold being raised. Most recently in the run up to this Budget the association led a coalition of property organisations in calling for reform, under the banner of the 1808 campaign. More information on the 1808 campaign can be found at http://www.nfopp.co.uk/1808/

ENDS

24 February 2010

Conference time: 0845hrs – 1630hrs

Background

The CML compile and publish a range of statistics on the UK housing and mortgage markets including key data on mortgage lending, arrears and possessions and market segments such as buy-to-let. This unparalleled knowledge and insight into the important role housing plays in the economy is the basis on which this conference programme is built.

The detailed content will help all organisations, not just lenders, operating within the world of housing. The content discussed will be crucial to understanding current and future housing market conditions.

Chaired by Sue Anderson, head of external affairs, Council of Mortgage Lenders

Expert speakers will include:

• Michael Coogan, Director General, Council of Mortgage Lenders
• Rt. Hon John Healey MP, Minister for Housing and Planning
• Peter Williams, housing consultant and Chairman, IMLA
• Steven Hall, director, KPMG
• Bob Pannell, head of research, Council of Mortgage Lenders
• John Stewart, director of economic affairs, Home Builders Federation
• Rob Thomas, senior policy adviser, Council of Mortgage Lenders

Delegates currently booked on include:

• Technical director, Allied Surveyors
• Head of sales, Halifax Intermediaries
• Head of product delivery, HBOS plc
• Team leader, housing regeneration and third sector team, HM Treasury
• Business project manager, Legal and General Assurance Society

Cost:

£275 for members (VAT exempt)
£325 for non-members (VAT exempt)

Our event fees remain highly competitive with prices for members and associates not having increased since January 2007

Location:

The Westbury Hotel, Bond Street, Mayfair, London, W1S 2YF

This event is open to press

The latest Bank of England mortgage data published today confirms the likelihood that there may have been a “bunching” of house purchase transactions in December to beat the stamp duty concession deadline.The gross lending total of £13.4 bn in December 2009 was in line with the CML’s estimate (£13.5 bn) and seems to confirm the CML’s view that much activity was “rushed through” to beat the stamp duty deadline. Gross lending totalled £143.5 bn in 2009.

Net lending remains up from the near stagnation in the middle of the year. For 2009 as a whole net lending totalled £11.5 bn. This was the lowest level on record (back to 1987), but higher than the CML forecast of £8 bn. It was largely driven by the relative strength of house purchase activity, which picked up over the latter part of the year, and weak levels of repayments. The CML sees little if any evidence that households, in aggregate, are using low interest rates to pay down mortgage debt more quickly.

CML economist Paul Samter said:

“These figures confirm that the mortgage market ended 2009 in much better shape than it started, but it still looks like a slow haul back to meaningful levels of activity. It should be no surprise if January and February this year appear particularly slow, if we are correct in our view that many buyers rushed to beat the stamp duty concession deadline in December.”

Notes to editors

1. The December lending data is available from the Bank of England website.

Contact details

Name: Sue Anderson

Tel: 020 7438 8924

Email: sue.anderson@cml.org.uk

Name: Bernard Clarke

Tel: 020 7438 8923

Email: bernard.clarke@cml.org.uk

Name: Jayne Chichester

Tel: 020 7438 8922

Email: jayne.chichester@cml.org.uk

Surveyors in the West Midlands, East Midlands, Wales and Scotland predict that the end of the holiday will have a “detrimental effect” in areas that are yet to see a recovery from the recession, and widely expect to see a drop in market activity when the threshold reverts back to its previous ways. The temporary stamp duty holiday was implemented in September 2008 and will finish at the end of the year.

The 1% tax will be reintroduced for properties sold over £125,000 compared with the £175,000 currently in operation, with The Royal Institution of Chartered Surveyors calling for the tax to be restructured. The Council of Mortgage Lenders calculates that 132,500 houses that were bought funded with a mortgage had escaped paying stamp duty in the past year.

“This is one of those situations where we will have to wait and see what the long term affects are to the housing market, but there can be no doubt that the stamp duty holiday has been a huge help to various regions in the UK,” says Laurence Smith of Decision Homebuyers. “People looking to sell a house quick or who are looking to buy a property are now working under different market conditions, and will have to cater their budgets accordingly as a result.”

To find out more about Decision Homebuyers and their services:
Please call 08456 341 456
or visit: http://www.decisionhomebuyers.co.uk/

About Decision Homebuyers:
Established in 2006 and specialising in fast property purchase, Decision Homebuyers are experts in their field. Decision Homebuyers can buy your house fast and guarantee to make cash offers on all types of residential and commercial property, no matter what the condition.

Six individuals have been charged with offences in connection with a series of high value commercial mortgage frauds.  Following a hearing at City of London Magistrates’ Court the case has been sent to Southwark Crown Court for a preliminary hearing on 4 January 2010.

The investigation was referred to the Serious Fraud Office in March 2006 by West Midlands Police following a complaint from the Cheshire Building Society.

It is alleged that the defendants participated in a series of frauds whereby they dishonestly obtained loans from banks or building societies that were secured on six commercial investment properties. Each property was transferred between companies controlled by one of the defendants and his associates at highly inflated prices in a series of back to back transactions. On the basis of the grossly inflated prices, fraudulent valuations and forged leases, the defendants applied for and obtained mortgage advances totalling nearly £50 million.  The mortgages were quickly defaulted on and the lenders suffered significant losses.

Five individuals, Ian McGarry (d.o.b 10/05/69), Hardeep Sodhi (d.o.b 05/10/76), Fatema Patwa (d.o.b 20/02/62), Saghir Afzal (d.o.b 01/01/62) and Laurence Ferrigan (d.o.b 20/11/61) have been charged with offences of conspiracy to obtain a money transfer by deception and dishonestly obtaining a money transfer. Simon Lawrence (d.o.b 07/04/61) has been charged with conspiracy to obtain a money transfer by deception.

Notes

At the relevant time:

• Ian McGarry was a chartered surveyor at Dunlop Haywards Lorenz;
• Fatema Patwa was the sole principal of her own firm, Patwa Solicitors, based in Birmingham.
• Hardeep Sodhi was a solicitor employed at Patwa Solicitors in Birmingham.
• Laurence Ferrigan was a partner at The CFB Partnership, Wanstead, East London.
• Saghir Afzal was a company director and property owner.
• Simon Lawrence was a partner of Darlingtons Solicitors in, Edgware

Serious Fraud Office, Elm House, 10-16 Elm Street, London, WC1X 0BJ

Press Office tel: 020 7239 7001/7004 or mobile: 0781 807 6688

Main switchboard tel: 020 7239 7272

press.office@sfo.gsi.gov.uk – or via – www.sfo.gov.uk

A recent study of more than 3,000 potential first time buyers reveals that 28 per cent feel they will need to save for at least five years before finally getting the keys to their own home.

One in 10 respondents have been saving for more than five years and still do not have enough deposit, while 30 per cent have no savings to put towards a deposit at all.

However, there is still help at hand, with new homes builder Stamford Homes offering its own incentives as well as Government shared equity schemes to get first time buyers onto the housing ladder.

These include;
Easystart where customers can own 100 per cent of a brand-new home for 80 per cent of the price with just five per deposit required.

HomeBuy Direct a Government home purchase scheme to help first time buyers onto the property ladder where you own 100 per cent of your home for just 70 per cent of the price, and just five per cent deposit required. This offer was to come to an end in March 2010 but has now been extended until September 2010 and has limited availability.

Stamp duty exemption on homes under £175,000. However, the Government’s exemption holiday ends on December 31.
Stamford Homes regional sales and marketing director Peter Bond said: “While the statistics by themselves do make fairly depressing reading, it is still encouraging that so many people are thinking about buying a home.

“There is evidence that many of our first time buyers have been able to afford their dream home through one of our many incentives schemes available across our developments.

“We recognise that raising a deposit does have its difficulties, but there are other scheme which can take away that pressure of the house buying process.”

For details of new homes around the region, visit www.stamford-homes.co.uk

- ENDS -

Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk

Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk

For further information please contact:

Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk

However, for potential buyers who are putting off moving until after Christmas, buying a brand new dream home is now easier, and less expensive, than you think.

Stamford Homes can help curb the cost of moving to many of its developments in and around the region – with savings and incentives to help customers make their money travel further.

Among the most popular are Stamford Homes’ own EasyStart scheme, and the Government’s shared equity HomeBuy Direct incentive.

Both of these are currently available on selected homes across the Midlands’ developments. However, as the HomeBuy Direct initiative – which has already helped numbers Stamford Homes customers to afford their dream home – comes to and end next September but has limited availability, so now is the time to act.

These include;
- Easystart where customers can own 100 per cent of a brand-new home for 80 per cent of the price with just five per deposit required.

- HomeBuy Direct a Government home purchase scheme to help first time buyers onto the property ladder where you own 100 per cent of your home for just 70 per cent of the price, and just five per cent deposit required. This offer has limited availability.

Stamford Homes regional sales and marketing director Peter Bond said: “The housing market doesn’t seem to be following tradition of late – whereby all goes quite at the start of December until the New Year.

“We are experiencing high levels of interest and sustained reservations as serious buyers who recognise just what amazing incentives are on offer to help them move efficiently and cost-effectively.”

For details of new homes around the region, visit www.stamford-homes.co.uk

Pic cap
There is still time to put a Stamford home on your Christmas wish list.

- ENDS -

Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk

Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk

For further information please contact:

Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk

A serious debate is which one will give them the best value for money – a new or second-hand home?

Re-decorating, installing a new bathroom or kitchen and laying new carpets are just some of the DIY jobs many of us plan when we move into a ‘used’ home.

However, buying a new home can cut down the cost and also put customers in the driving seat when it comes to those finishing touches – and save them a small fortune in domestic repairs.

And there is no better place to buy a brand new home that in rural Lincolnshire, particularly in the market towns of Wragby and Horncastle – where prices for a three-bedroom terraced home start from just £149,995.

Now is a great time to buy a brand new dream home at these locations.

As well as prices being at their most affordable for years, customers can benefit from the last throes of the Stamp Duty exemption holiday on homes below £175,000 and many Stamford Homes money-saving incentives to help existing home owners and first time buyers.

New homes also offer fantastic value in terms of energy efficiency, security and design – both internal and external. They are a blank canvas allowing customers to stamp their own mark and personality on what is the most important purchase of their life.

Other benefits include:

- Less maintenance – old homes may have more character but they may also need more costly things doing to them, which could see the owner paying out for items such like new guttering, replacement windows or extra roof insulation.

- Energy efficiency. New homes are well insulated, and include double-glazing as standard, making them cheaper to run than older homes. All new homes are fitted with a water meter. Studies show that new homes, on average, are four times more energy efficient that older homes, so producing lower energy bills.

- A blank canvas – depending on build stage of the new home, you have an option of choosing kitchen units, worktops and wall tiles – you can even pick your own carpets with certain incentives!

- All of Stamford homes’ new homes come with an insurance-backed 10-year warranty from the National House Building Council, giving new owners real peace of mind. That’s something else you simply can’t get when buying second-hand.

Stamford Homes regional sales and marketing director Peter Bond said: “In today’s market place, with so many incentives available, the argument for buying new as opposed to old has never been greater. We have some amazing homes and incentives at our Lincolnshire developments – with reservations now being taken well into next year.”

For details on prices and availability at the Bell’s Yard development in Horncastle and Carpenter’s Lodge in Wragby, visit www.stamford-homes.co.uk

Pic cap
The benefits of buying a brand new home are endless – and there are plenty to choose from with Stamford Homes in Horncastle and Wragby.

- ENDS -

Notes to the Editor:
Stamford Homes operates throughout the East Midlands and Lincolnshire and forms a part of Galliford Try’s Housebuilding Division: Galliford Try Homes.
www.stamford-homes.co.uk

Galliford Try Homes operates through four strong regional brands: Linden Homes, Stamford Homes, Midas Homes, and Gerald Wood Homes specialising in brownfield development. The business is capable of developing over 3,000 homes per year, covering the entire region from the West Country to Lincolnshire and the South-East.
www.gallifordtryhomes.co.uk

For further information please contact:

Cetti Long
Media Matters PR
Stamford Homes
Tel: 01733 371363.
E-mail: cetti@mediamatters-pr.co.uk

LONDON, ENGLAND, December 02, 2009
Customers taking out Sainsbury’s Home Insurance qualify for Double Nectar points on their Sainsbury’s shopping for two years

Over the past year in order to save money, one in four people have cancelled or not renewed their home insurance. Sainsbury’s Home Insurance is warning people not to go without home insurance as it could have disastrous consequences leaving them in further financial dire straits. To help pay for their home insurance, Sainsbury’s Finance is urging people to spread the cost of cover over a year, something it does not charge customers for doing. However, its research reveals that 68% of policies do.

Ben Tyte, Sainsbury’s Home Insurance Manager, said:
“In the current economic environment many people are looking to dumb down on their insurance or do away with it completely in order to save money. However, this is a false economy because if disaster strikes they could be left in ruin. Rather than risk inadequate cover, they should shop around for better deals – it is possible to find quality cover at a competitive price – and find a policy that does not penalise them for paying on a monthly basis.”

However, when reviewing policies, Sainsbury’s home insurance warns that it is very important to look closely at the quality of cover being offered. For example, its research reveals that only 8% of home insurance policies offer unlimited buildings cover and only 12% offer a no claims discount of up to 30% or more. Furthermore, less than one in ten (8%) policies provide no claims discount protection. These are all features offered by Sainsbury’s Home Insurance.

Sainsbury’s shoppers are rewarded with double Nectar points on their shopping in store, online and in petrol filling stations for two years when taking out Sainsbury’s Home Insurance. For example, customers who spend GBP50 a week with Sainsbury’s and have Sainsbury’s Home Insurance as well as a Nectar card would receive GBP52 worth of Nectar points a year.

About Sainsbury’s Home Insurance:
As well as being competitively priced, the bank also offers an extensive range of cover and benefits. This includes:

Unlimited buildings cover
Unlike some home insurers, Sainsbury’s Bank does not apply charges for customers paying their premiums by direct debit
Maximum no-claims discount of up to 30%
No-claims discount protection
Cover for accidental damage – even by pets
Sainsbury’s provide a wide range of financial services including credit cards, loans, personal loans, savings account, pet insurance, life insurance, home insurance and car insurance, visit www.sainsburysbank.co.uk now to find out more

For further information, please contact:
Phil Anderson / Ian Morris
Citigate Dewe Rogerson
020 7282 1031/1037

Notes:
(1) Defaqto research commissioned by Sainsbury’s Finance, September 2009
(2) ABI, June 2009
(3) Dependent on the number of years you have remained claimed free
(4) Terms and conditions apply – additional premium required
Sainsbury’s Home Insurance is underwritten by St Andrews Insurance ltd.

Martin Gahbauer

Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said:
“The monthly rate of house price inflation was unchanged in November at a seasonally adjusted 0.5%, leaving the average price of a typical property 2.7% higher than a year earlier.

At £162,764, the average house price is at a similar level to where it was in early 2006. The 3 month on 3 month rate of change – generally a smoother indicator of the near term trend – dropped to 2.8% from 3.5% in October and 3.8% in September.
This suggests that house prices are now rising at a more moderate pace than in the spring and summer months, when they experienced a very strong bounce from the early 2009 lows.

Labour market has held up better than expected but uncertainties remain.

“The outlook for the housing market remains crucially dependent on labour market conditions, and here recent developments have been somewhat more encouraging than might have been expected. With the UK experiencing its longest and deepest recession since WWII, most economists expected unemployment to increase very sharply in 2009, perhaps breaching the psychologically important three million mark by
the end of the year.
While unemployment has indeed increased noticeably, the rise has not been as rapid and pronounced as previously feared.
Based on the latest labour market figures from September, it now looks unlikely that the jobless total will reach three million before the year is up.

“Part of the explanation for why unemployment has not risen to the levels implied by the recession’s depth is that in many cases employers have opted to reduce working hours and pay rather than make employees redundant. This is reflected in rising part-time employment at the expense of full-time employment , and record low growth in average earnings.

The strategy of cutting hours and pay rather than headcount probably reflects a fear among many employers that they could find themselves short of labour when the economy recovers, thus leaving them less competitive in the longer term. Whether this strategy is sustainable will depend on how quickly the economy recovers.
If output is too slow to recover, then firms may find it necessary to reduce their payrolls further in order to improve productivity and profitability.
Another reason to remain cautious about the future outlook for employment is that the public sector has not yet experienced any significant job losses, but presumably will begin to do so when fiscal policy is tightened from next year onwards.

“Despite continued uncertainties about the future, the better than expected performance of the labour market has probably contributed to the surprise rebound in house prices this year. Even though workers who have been forced from full-time employment into part-time work will have experienced a reduction in income, the impact has been less severe than it would have been if they had lost their jobs completely.

Together with the fact that mortgage rates have fallen sharply as a result of base rate cuts, this has meant that far fewer borrowers have
fallen into arrears than would normally be the case in such a deep recession. In fact, the percentage of borrowers in arrears across the mortgage
industry has even edged down slightly in the most recent quarterly figures (chart 3). As such, the downward pressure on house prices from distressed sales has so far been significantly lower than expected.”

Martin Gahbauer,
Chief Economist
Tel: 01793 655434
martin.gahbauer@nationwide.co.uk

CFA Roy Beale
External Communications Officer
Tel: 01793 655689
roy.beale@nationwide.co.uk

More information

Notes:
Indices and average prices are produced using Nationwide’s updated mix adjusted House Price Methodology which was introduced with effect from the first quarter of 1995. The data are drawn from Nationwide’s house purchase mortgage lending at the post survey approvals stage. Price indices are seasonally adjusted using the US Bureau of the Census X12 method. Currently the calculations are based on a monthly data series starting from January 1991. Figures are recalculated each month which may result in revisions to historical data.

The Nationwide Monthly House Price Index is prepared from information which we believe is collated with care, but no representation is made as to its accuracy or completeness.
We reserve the right to vary our methodology and to edit or discontinue the whole or any part of the Index at any time, for regulatory or other reasons.
Persons seeking to place reliance on the Index for their own or third party commercial purposes do so entirely at their own risk. All changes are nominal and do not allow for inflation.

More information on the house price index methodology along with time series data and archives of housing research can be found at www.nationwide.co.uk/hpi

The country’s biggest property developers have welcomed government plans to introduce zero carbon commercial buildings from 2018, but have warned that carbon reduction targets will be missed unless existing buildings are tackled.

Property giants including British Land, Hammerson, Hermes, Land Securities, Legal and General. Prupim and SEGRO, who own and manage the country’s biggest shopping centres and offices, want to see display energy certificates (DECs) which clearly show the performance of building when in use, should be made mandatory for all buildings.

Patrick Brown, assistant director for sustainability at the British Property Federation, said:

“We really need clarity now given that the development process can start over a decade in advance of a brick being laid. This is a welcome consultation but the bottom line is that our 2050 target of reducing carbon emissions by 80pc will be missed unless a greater level of attention is given to existing buildings.

“The consultation prioritises energy efficiency which is a good thing since building regulations are readily understood by developers and the bar is raised over a gradual period of time. But the overwhelming focus on new buildings must be accompanied by a greater level of attention to existing stock. The majority of buildings with us now will still be in use in 50 years’ time and side-stepping the difficult questions will cause us more problems in the long term.”

Real estate is responsible for around half of the UK’s carbon emissions.

The industry however, believes government policy has ignored the fact that the majority of commercial property is rented out.

This means landlords cannot simply walk into a tenant’s shop, for example, and turn the lights off. Therefore, any incentives and responsibilities for improving energy performance are widely split between the two groups.

The BPF wants to see measurement based on actual energy use made obligatory for the private sector. This could happen by expanding display energy certificates (DECs) – which measure the operational performance of a building – so that they do not just cover public buildings. (See notes).

Property is responsible for a massive 50 per cent of the UK’s carbon emissions, but one of the easiest places to make savings if data is shared and landlords and tenants work together.

Energy use needs to be made transparent if the industry has any hope of meeting green energy targets, believes BPF chief executive Liz Peace. The BPF is pushing for EU law to be changed so that landlords and tenants will be obliged to share energy data. If this happens, then both sides can work together to support real change.

However, Peace admits there is a critical need for firms to change the way they view energy and reduce usage via more effective management before looking at refitting buildings with expensive new gadgets. It is also vital to ensure that any newly installed kit delivers the promised energy and carbon savings, as there is evidence that some developments employ it at planning stage but often don’t use it properly. Essentially, it comes down to effectively measuring what is used.

Experts believe a third of energy use can be cut without any major expenditure, but want research carried out into what financial incentives could spur landlords on to undertake higher cost improvements, looking at where costs and benefits currently do not add up, when all other factors are balanced.

Despite setting up the new Department for Energy and Climate Change there has been no clear policy direction in government with various other departments all covering the same ground. A staggering 70 national and 96 regional bodies currently offer energy efficiency advice. The BPF therefore wants greater clarity on grants and advice that could help green the nation’s buildings. An array of financial benefits already exist (see notes) but few people really know about them.

Peter Clarke, executive officer at British Land, said:

“We have found that simple improvements in energy use can be made by sharing data, which often reveals that changes to behaviour can yield big savings on energy and carbon. The key barrier is that, in many cases, landlords and tenants are unaware of where the opportunities lie. The BPF’s www.les-ter.org toolkit, developed with the Carbon Trust, provides a set of tools and a process to enable landlords and tenants to measure, understand and reduce their emissions.”

Dave Farebrother, environmental director at Land Securities, which has recently announced it will voluntarily introduce DECs across its London portfolio, said:

“At Land Securities we are finding a high degree of willingness among our clients to engage on matters of energy efficiency, and as existing buildings form the larger part of the ongoing carbon problem the quickest, cheapest and biggest wins for the sector come from changing attitudes and behaviours. DECs, which reflect how buildings actually operate, are much more helpful in this regard than a theoretical EPC.”

Bill Hughes, managing director at Legal and General Property, said:

“There is a clear desire at all levels for greener buildings, but this won’t be achieved by focusing exclusively on new build and it won’t be achieved unless the government begins to understand how the market in existing property actually works. Designing new efficient buildings is relatively easy, but without a government-backed initiative to manage down energy use in old stock, targets will remain aspirations.”

Martin Moore, chairman of the BPF’s sustainability committee and chief executive of Prupim, said:

“We need to focus on methods to improve our understanding of what energy we’re actually using. Expanding display energy certificates and providing support to firms to help them measure and reduce energy use is vital. If you cannot measure it, you cannot manage it and if you cannot manage it, you certainly cannot reduce it.”

Claudine Blamey, head of sustainability at SEGRO, said:

“The most significant amount of carbon used during the life of a building is in its use phase. At the moment there are no real drivers for occupiers to reduce their energy. We need incentives to change behaviour if we are going to become a low carbon economy.”

Notes for editors

General background

The government will fail to achieve an overall reduction in total UK carbon emissions by 80 per cent by 2050 compared to 1990s levels.

The government is due to produce a big policy paper later in the year on how it intends to deliver these savings. This will be based on consultations like this Heat and Energy Saving Strategy report and the advice of a body called the Committee on Climate Change, composed of independent experts and led by Adair Turner (at the moment).

As buildings account for around half of UK and European emissions, the property industry can most likely bank on having to make sizeable emissions reductions. Certainly the prevailing direction of policy would suggest it.

In its report, the Committee on Climate Change advised the Government to pretty much decarbonise the energy supply in this country. There are significant issues with that, not least the ones experienced by developers who are essentially having to build power stations next to developments. Many want to see a proper national energy strategy to manage the transition to such a low carbon energy supply. In any case it will take time – and so energy efficiency is important to manage energy demand and emissions until we make that transition to low carbon energy supplies.

The adoption of DECs in the private sector could:

• expose the benefits of better management and motivate users to make improvements;
• tackle existing as well as new non-domestic buildings;
• at relatively modest cost, offer recommendations for improvement;
• incentivise local generation or onsite renewable energy production;
• offer a comparison with the rating for the building’s EPC would act as a neat barometer of ‘potential’ versus ‘actual’ energy performance, promoting understanding of this issue; and
• assist in the generation of a database of true building energy performance, which would lead to better policy.

Awareness among possible beneficiaries of Government fiscal support is limited. A report by Element Energy detailed that the following percentages were previously aware of the fiscal support mechanisms listed below:

• Landlord’s Energy Savings Allowance (LESA) – 19%
• Enhanced Capital Allowances (ECA) – 22%
• 5% VAT on energy efficient purchases – 57%
• Grant from the Low Carbon Buildings Programme – 49%
• Climate Change Levy Exemption – 46%

Downloadable documents

Zero Carbon – 443kB.

CAMBRIDGE, ENGLAND, November,  2009 

Andrew thinks more business incubators are needed for start-up and fledgling companies rather than traditional office space. He warns that Cambridge will have to diversify in the future, and reduce its reliance on the R&D and professional services sectors.

Andrew said that the digital and media sectors are far more relevant, and they are going to require a different focus in terms of property. He feels that the market needs to develop its technology centres so that business can function successfully in the 21st Century.

Difficulties arise when smaller traditional office units are occupied by companies that experience rapid growth. It is these fast-growing companies that need flexibility rather than to be restricted by traditional lease structures. A solution needs to be found to enable such businesses to develop and change quickly.

Andrew said:
“Old fashioned lease structures, where tenants take on a lease for a lengthy period of time, have disappeared for good. It is now important to look at new flexible lease structures. However, this will present difficulties for developers and investors resulting from a lack of certainty of income.

“From my experience, most occupiers will pay more for flexibility and operational efficiency which will result in higher rents per square foot. It is a question of changing the mindset of landlords.”

Andrew sees diversity as the key to future economic growth, and believes there is now a pressing need for a new type of building to meet demand.

The next stage is to consider how to invest in property offering flexible terms, as many companies don’t wish to occupy traditional buildings. Fast growing companies need buildings that will evolve with product development, and following ongoing investment present a better whole life cost.

Andrew goes on to say:
“Developers have provided bespoke buildings in the past, but in these turbulent times investment and funding markets are going to have to get their heads around the implications before they appreciate the opportunities. That said, I don’t believe speculative building will return for at least 12 months. We will need to demonstrate that occupier demand has returned before that happens!

“The banks haven’t been doing any major lending in the commercial property sector recently, and, going forward, they will be looking for developers to take more risk and put more money into projects. A traditional approach, but one that is unlikely to facilitate the changing face of commercial property.”

Andrew Gordon
Director
Lambert Smith Hampton
Cambridge Office
Tel: 01223 276336
Email: agordon@lsh.co.uk

Lambert Smith Hampton (LSH)

LSH is a leading commercial property consultancy with an unrivalled national network focused on the UK and Ireland property markets. Its expert teams deliver a full spectrum of transactional and consultancy services and business-driven solutions for clients. LSH is the ‘UK’s most active national agent’ and ‘Top National Office and Industrial Agent’ (Estates Gazette’s ‘EGi Deals Competition’).

Lambert Smith Hampton’s (LSH) Cambridge office is a commercial property consultancy providing property services and advice in Cambridge, the surrounding area and nationally. With LSH clients have the added advantage of each office being backed by the strength of a national office network. For clients, this means 10 key divisions and over 850 professional staff working together to address the commercial property difficulties you may face, anywhere in the UK.

Lambert Smith Hampton is a founder member of the Elite Cambridge Business Circle.

6 Wellbrook Court
Girton Road
Cambridge
CB3 0NA
UK

Tel: + 44 (0) 122 327 6336
Fax: + 44 (0) 122 327 6226

http://www.lsh.co.uk

For more information contact:
Andrew McGahey
Director, Head of Cambridge Office
Lambert Smith Hampton

Tel: 01223 276336
Email: amcgahey@lsh.co.uk

Issued by:

Murdoch MacDonald
Fame Publicity Services
E-mail FamePublicity@gmail.com
Web: http://www.famepublicity.co.uk

http://www.CambridgeshireBusinessNews.com

Telephone: 01292 281498
Mobile: 07833 667322

“We have seen thousands of people in need of the best relocation services. People out there used to relocate because of many reasons which are good or bad. Either way, relocation is a common part of life that cannot be avoided in this modern planet” says Yossarian Smythe of Beemoved removals.
They said it right, relocation is an indispensable part of everyone’s life and there are many relocation service providers out there who take advantage of this demand. Some of the service providers demand huge cash for providing the service and some others just swindle the people’s money and provide very poor quality relocation services.
Thankfully there are at least a few professionals like Beemovedremovals to do the job right.

Speaking about the special offer provided at Beemovedremovals, Yossarian Smythe said,
“People around the planet are really having a hard time now because of the Global recession. People are looking for savings in anything and everything. The relocation services are no exemption. In fact people are in desperate need of the relocation services now because of the job cuts and the need to shift to new places to find a job. These people will be in need of temporary storage of there belongings till they settle down again. We understand that the financial condition of our clients won’t be good at this time and that is the reason why we offer extra discounts for the storage needs contracted for more than 6 months.”

Speaking on the move, Yossarian Smythe said,
“Though we have announced this offer, there will be no degradation in the quality of our service. The 24 hour package monitoring system and temperature control will still be provided for the storage solutions. We hope that there are many people out there who can get greatly benefited with this discount. ”

About Beemovedremovals

Beemoved Removals is a local removal firm catering for the south of England. They have been offering the state of the art storage solutions for the people on the move. For more information, visit http://www.beemovedremovals.com

Press Release Contact Details:

Contact:
BeeMoved
2-16 Coombe Road,
Brighton,
BN2 4EA
01273 20 40 98

###

As part of a commitment to the environment and the reduction of their carbon footprint, GardenSupplies.co.uk are offering customers the opportunity to claim five free tree seedlings worth £10.00 with every order placed over £40.00.

Running from 16th November 2009 to 31st March 2010, qualifying customers will have the option of selecting from 11 different species; including English Oak, Ash, Green Beech, Silver Birch, Field Maple and Norway Maple, with the trees supplied as bare-rooted seedlings, 2-3ft in height.

Andrew Henderson, Managing Director, keenly explains the reasoning behind the scheme:
“Since the launch of our business, we have always been acutely aware of our carbon footprint, and have worked hard to minimise such where possible. The free trees promotion is an extension to that commitment, and presents a tangible benefit to our customers.”
“The planting of trees not only takes in carbon dioxide, but creates oxygen – which is why trees are widely regarded as the lungs of the earth. Not only that, but trees can make a marked improvement to the look and feel of a garden, and our primary aim is to ensure that customers get the very best from their garden. The trees would also make a very thoughtful gift for the gardener who has everything,” he added.

Further information on the promotion can be found at the following address: http://www.gardensupplies.co.uk/content/free-trees.aspx

About GardenSupplies.co.uk:
Launched by husband and wife team Andrew and Zoe Henderson, GardenSupplies.co.uk has been developed to provide an extensive range of quality garden supplies for every gardener.
With the provision of first-rate customer service at the core of the e-commerce operation, GardenSupplies.co.uk dedicates itself to complete customer satisfaction.

The inclusion of a no quibble, free of charge return policy allows customers to purchase with abundant confidence, whilst the implementation of carefully selected secure technologies safeguard every transaction.

With an extensive and exciting range of over 900 products that cover all aspects of gardening – from Grow Your Own products from the likes of Burgon & Ball, Haxnicks, Garland and Stewart Garden Style, to organic compost from Vital Earth, and ranges of garden footwear and gloves from Town & Country and Laura Ashley – GardenSupplies.co.uk offers products that will allow customers to grow, decorate and maintain their outdoor space, but, above all, allow them to get the very best from their garden and contribute to the enjoyment of spending time within it.

With three fully functional warehouses and efficient order processing and stock management systems, all orders are picked, packed and dispatched without unnecessary delay.

Press Release Contact Details:

Garden Supplies Ltd.,
Norton Road, Snitterby, Gainsborough, Lincolnshire, DN21 4TZ
Telephone: 01673 818046
Fax: 01673 818444
E-mail: enquiries@gardensupplies.co.uk
Web: www.gardensupplies.co.uk

Benvaren is a superb family residence dating back to 1911. With delightful gardens, the villa has superb views set amid spectacular scenery. The accommodation includes 4 bedrooms, 3 reception rooms, kitchen, utility rooms, 2 bathrooms and 2 shower rooms. The beautiful wood panelling in the Reception Hall, together with feature fireplaces, cornicing and picture rails all show a style typical of Edwardian Houses.

A former laundry and toilet, together with former maid’s room have Planning Consent to convert to a one bedroom annex.

The mature and well kept gardens, which are a particular feature of the property, provide a wonderful backdrop slopping gently down towards the shore of the loch.

The village of Lochranza is truly stunning, lying snuggled in a sheltered valley along the edge of the loch, against an imposing backdrop of the surrounding hills. The nearby 17th century ruins of Lochranza Castle were once a royal hunting lodge and an earlier castle on the same site is believed to be where Robert Bruce stayed on his arrival from Ireland in 1306.

Often referred to as ‘Scotland in Miniature’, the Isle of Arran has the best of all the many characteristics of Scotland. From a rugged and mountainous interior in the north, green rolling hills and woodland in the south, the beautiful coastline with pretty villages and sandy bays benefits from the warm climate of The Gulf Stream. A ferry service from Lochranza provides a Summer link to the Kintyre peninsula, known as Arran’s “back door”, whilst a further regular service to the mainland operates from nearby Brodick.

Benvaren is probably one of the “hidden gems” of Lochranza and it is rare for such a property to come on the market.

Offers Over GBP485,000 are being sought for Benvaren. For further information please contact the selling agents.

CKD Galbraith
7 Killoch Place
Ayr KA7 2EA
Ayrshire, Scotland

Contact: R A Cherry BSc MRICS
Tel: 01292 268181
Fax: 01292 292300
E-mail: bob.cherry@ckdgalbraith.co.uk
Web: http://www.ckdgalbraith.co.uk/

CKD Galbraith is one of Scotland’s leading independent property consultancies, with expertise across a broad spectrum of property-related services.

CKD Galbraith operates from 12 offices across Scotland, bringing the firm’s clients a wealth of experience in:

* Residential property sales and lets
* Commercial property sales and management
* Estate, farm and forestry sales and purchases
* Estates, farming and land management
* Building surveying
* Forestry
* Sporting holidays
* Holiday homes

The annual change stands at minus 3.4 per cent. This is the sixth month in a row in which the fall in annual change has decreased. The average house price in England and Wales is now £159,546.

All regions in England and Wales experienced a decrease in their average property values over the last 12 months. The region with the most significant annual price fall was the West Midlands with a movement of  minus 6.3 per cent. The North West experienced the greatest monthly rise with a movement of 1.9 per cent. Wales was the region with the most significant monthly price fall with a movement of minus 2.3 per cent.

The most up-to-date figures available show that during August 2009 the number of completed house sales in England and Wales rose by 11 per cent to 53,236 from 48,109 in August 2008. Transaction volumes, while no longer falling at 2007 rates, remain relatively low.

For more information and to view the report in full, visit www1.landregistry.gov.uk/houseprices/

Notes

1. Since 2006, Land Registry’s House Price Index (HPI), which is available free at www1.landregistry.gov.uk/houseprices/ has gathered its own momentum to become a leading indicator of property movement within England and Wales. It is widely viewed as “the most accurate barometer of the housing market”.

2. The HPI is published on the twentieth working day of each month. The November index will be published at www1.landregistry.gov.uk/houseprices/ at 11:00 hours on Friday 30 December 2009.

3. The HPI uses a sample size that is larger than all other statistical measures available. It is calculated using Land Registry’s dataset of all residential property sales completed in England and Wales since January 1995.

4. Land Registry’s dataset contains details on 15 million residential transactions. Of these, over five million are identifiable matched pairs, providing the basis for the repeat sales regression analysis used to complete the index. This technique of quality adjustment ensures an “apples to apples” comparison between properties.

5. With the largest transactional database of its kind detailing over 22 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.

6. As a government department established in 1862, executive agency and trading fund responsible to the Lord Chancellor and Secretary of State for Justice, Land Registry keeps and maintains the Land Register for England and Wales. The Land Register has been an open document since 1990.

7. For further information about Land Registry visit www.landregistry.gov.uk

Contacts

Marion Shelley 020 7166 4543

marion.shelley@landregistry.gsi.gov.uk
Esther McWatters 020 7166 4487

esther.mcwatters@landregistry.gsi.gov.uk
Press Office 020 7166 4215