PRS set to soar

first_imgThe private rented sector (PRS) is expected to increase by 700,000 households to 5.5 million by 2020, accounting for one-fifth of the total housing stock in this country, according to a new report.A fresh study on the buy-to-let sector by Kent Reliance finds that the PRS now accounts for 18 per cent of all housing stock, after almost 150,000 new households were added to the PRS in the year to March.A higher number of buy-to-let investors entering the market coupled with capital growth have led to an average rise of 11 per cent in the total value of PRS property, or £97.8 billion, to £990.7 billion, with gains led by London, at £406.5 billion, followed by the South East at £147.6 billion.Andy Golding, Chief executive, Kent Reliance, said, “Buy-to-let has come of age, moving from a niche asset class to one big enough to rival the stock market. Landlords are seeing the benefit of a structural change in Britain’s housing market, with tenant demand ever strengthening. Yes, house prices are showing signs of steadying somewhat, but growth remains brisk.”If recent growth continues, the whole sector is set to be worth in excess of £1 trillion by the end of next month and in the region of £1.45 trillion by 2020.Kent Reliance’s findings are supported by the latest Association of Residential Letting Agents (ARLA) monthly Private Rental Sector (PRS) Report, which shows that a third – 32 per cent – of letting agents saw rents increase in April, with many agents projecting further growth moving forward.In the last month, the number of landlords selling their buy-to-let properties has increased; particularly in London, with ARLA agents in the capital seeing the number of landlords selling their buy-to-let properties double between March and April – rising from three to six properties on average per branch. Scottish agents saw an increase from four to seven buy to let properties going up for sale in the last month, whilst the national average increased from three to four buy-to-let properties up for sale, on average, per branch.David Cox, Managing Director of ARLA, said, “It is interesting that we have seen an increase in the amount of landlords selling their buy to let properties in the last month, which is likely to have been a result of political uncertainty. We know that Labour’s plans within the PRS were unpopular for many landlords and agents, so this increase in those selling their buy to let properties may have been a knee jerk reaction to the possibility of Labour’s proposals coming in to practice.”Following the General Election result last month, nine in ten ARLA letting agents were happy with the outcome of a majority Conservative government – with almost all agents – 95 per cent – believing the result is good news for the PRS.Meanwhile, a new buy-to-let investor portal has been launched this week.Buy2Let.com will feature thousands of property investment listings, sourced from a selected list of some of the industry’s best-known agents, including the franchised branch network of Northwood UK; full-service agents Leaders; and East London specialists, Stirling Ackroyd. Chain-free instant purchase opportunities will also be listed, through the portal’s exclusive auction partner, Bamboo Auctions, offering live online auctions of investment property.Founder of Buy2Let.com, Martin Wilkinson (left), commented, “We are delighted to launch the first and only B2B property listings portal dedicated to the buy-to-let market. Buy2Let.com is designed to be the perfect marketing partner for agents to reach investors directly, and encouragingly, it seems our panel of forward-thinking early adopters already recognise us as such.“We appreciate that some agents and developers simply don’t have the time to dedicate to the investment market, and we know that the current property portals simply do not cut it when it comes to marketing to investors – they are designed to sell solely to the owner-occupier market.“Alternatively, Buy2Let.com provides the crucial pieces of information that investors need to make a purchasing decision – uniquely, the portal allows them to search for and identify opportunities by annual rental yield, as well as categorising each listing as vacant, instant rental – or tenanted, and HMOs. No other portal offers this level of insight or comparison, because they are not intended for the buy-to-let property investment market.”PRS private rented sector buy-to-let investors June 3, 2015The NegotiatorWhat’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 40% of tenants planning a move now that Covid has eased says Nationwide3rd May 2021 Letting agent fined £11,500 over unlicensed rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 Home » News » Housing Market » PRS set to soar previous nextHousing MarketPRS set to soarIt is estimated that the private rented sector (PRS) will account for 20 per cent of housing stock by 2020.PROPERTYdrum3rd June 20150533 Viewslast_img read more

Opatija American Gardens opened after renovation

first_imgThe opening was also attended by Margit Grassinger, director of the Vienna Parks, who donated about thirty bushes of original Viennese roses to Opatija. From the Hungarian city of Balatonfured, they provided young pepper seedlings to American gardens. The city of Opatija has decided to restore the gardens after years of neglect, and yesterday marked the completion of the first phase of restoration. The second phase involves the renovation of the upper entrance to the gardens, the arrangement of the garden house and the cactus bar with herbal drinks. Opatija’s American Gardens, in the renovation of which almost four million kuna was invested, were officially opened yesterday. These are historic gardens that cover over nine thousand square meters, and whose first phase of restoration has been officially completed, reports HRT. The City of Opatija points out that the American Gardens are another content in a series that agencies and hoteliers can offer to guests and that they are suitable for holding various events such as cultural evenings, fashion shows, weddings and similar celebrations. Kuczor married Hilda von Hortenau, daughter of the Viennese ballerina Maria Schleizer and Archduke Otto of Habsburg, nephew of Emperor Francis Joseph. The couple planted gardenia, camellias, magnolias and various Mediterranean plants in the gardens.center_img American gardens are also botanical, and were built by Hungarian entrepreneur Mihaly Kuczor. After visiting Opatija in 1926, a merchant who made a fortune selling Hungarian peppers decided to buy land and build a terraced garden with a monumental entrance and a colonnade of fifteen pillars and fifteen cypresses to delight in the view from the park. “We are obliged to take care of the rich park heritage we have, but also to revitalize it and convert it for tourist purposes so that everyone can enjoy the beauty of the landscape. That is why we started arranging this area, for which in the first phase we provided about two million kuna with the funds of the Ministry of Tourism and the city budget and another 600 kuna for the construction of a pedestrian bridge in accordance with the requirements of the conservator.”, Said the mayor of Opatija, Ivo Dujmić. Source / photo: HRTlast_img read more

Reddan blow for Ireland

first_imgIreland’s substitute scrum-half Eoin Reddan has been ruled out for three months after suffering a broken leg in the 13-13 RBS 6 Nations draw with France. Reddan fell awkwardly beneath a tackle in the final minute of a compelling match at the Aviva Stadium and was administered oxygen before being carried off. Ireland’s injury-depleted ranks were swelled even further by a number of other casualties with lock Donnacha Ryan damaging his shoulder and centre Luke Marshall sustaining concussion. Both are doubts to face Italy next Saturday, while flanker Peter O’Mahony, scrum-half Conor Murray, centre Brian O’Driscoll and wing Fergus McFadden also picked up a variety of knocks. Already missing were lock Paul O’Connell, wings Tommy Bowe and Craig Gilroy, centre Gordon D’Arcy, flanker Stephen Ferris and fly-half Jonathan Sexton. Head coach Declan Kidney, however, refused to complain about Ireland’s misfortune. “We took a conscious decision that we wouldn’t complain about things. Other people are worse off than we are, plus it’s such an insult to the lads coming on and having a huge go,” Kidney said. “We’re frustrated, but there are lads coming in who have no experience at this level under their belts and are doing such a good job for us. “On any given day Paul O’Connell, Tommy Bowe, Stephen Ferris and Jonathan Sexton would be in the running for a Lions spot. “I’ve never experienced an injury run like this, but you work your way through and I spoke to (captain) Jamie Heaslip about it and we agreed not complain.” center_img Press Associationlast_img read more

Fortuna downs Del Norte, wins H-DNL ‘chip

first_imgAfter a coaching change, the Fortuna Huskies boys soccer team’s standout sophomore midfielder Fernando Atilano scored two goals within a minute in the Humboldt-Del Norte League tournament championship to beat the Del Norte Warriors 3-1, Saturday afternoon in Fortuna.“I started off at center-mid and I wasn’t feeling too comfortable,” Atilano said. “Once our coach made that switch that’s when the goals started coming in. I just did a quick move and once I drove down the line I knew I was gonna …last_img read more

Safta nominees named: best in South Africa film and TV

first_img23 February 2016See 2016 SAFTAs nominations list: https://t.co/BIJkOHSEEL pic.twitter.com/aCrZ6o2lYG— SundayWorld (@SundayWorldZA) February 18, 2016The Safta celebration, run by the National Film and Video Foundation (NFVF), is in its tenth year, and this year the event’s theme is a call for a “commitment to growth and development of the industry”.NFVF chief executive Zama Nkosi said at the announcement of the nominees that the tenth Saftas would be the best yet. “It is a great honour (for) the NFVF to have been the custodians of these awards from the very beginning. We have seen how much it has grown, we have seen it grow from 50 entries to over 400 entries.”Winners will be announced during two star-studded events on 18 and 20 March 2016, at Gallagher Estate and broadcast live on SABC 2. Strictly Come Dancingand Expresso presenter Katlego Maboe will be the ceremony host, along with TV personality Minnie Dlamini. Maboe is also nominated for Best TV Presenter.Nataniel was at the #SONA last week to suss what what matters: what everyone was wearing. https://t.co/SHyiaRa3Lz pic.twitter.com/FUaAs5bqHc— ZANEWS (@zanews) February 15, 2016The Emmy-nominated satirical comedy show, ZA News: Puppet Nation, leads the list with 11 nominations, while acclaimed SABC 3 sitcom Those Who Can’t received nine nominations.Puppet Nation director Alex Fynn, who earned a Best Director nomination, calls the nominations the fruits of a team effort. “I think most people don’t really know what it takes to produce this kind of show. (and) 11 nominations is exactly what this team needs to just keep on pushing and doing what we do.” The show is broadcast on the StarSat network, as well as through its online platforms.Other highlights include nominations for the SABC 1 soap opera, Generations: The Legacy, which missed out on recognition at the 2015 awards, and a Best TV Drama nomination – one of seven nominations – for the innovative interactive series Saints and Sinners, which begins its second season this year. The unique narrative of the show uses viewer polling to determine the outcome of each episode.The local television institution, Isidingo, and e-tv’s popular funeral business drama, Ashes to Ashes, each earned six nominations for acting and production.Ayanda, a movie produced by @TerryPheto has received five nominations at South African Film and Television Awards. pic.twitter.com/Pr7DQrzRWd— TransAfricaRadio (@TransAfrica872) February 19, 2016This year’s Safta film nominations feature some quality productions vying for top honours during a year in which a host of local films were released to critical acclaim and box office success.Nominations for Best Film include indie festival darling Ayanda, which got five nominations; Afrikaans drama Dis Ek, Anna; and the Mzansi Magic channel’s township drama, For Love and Broken Bones.The film, While You Weren’t Looking, that deals with the everyday lives of South Africa gay and lesbian society, features heavily in the acting categories with nominations for veterans Lionel Newton and Tina Jaxa.For a full list of TV and film nominations, visit the NFVF website’s Saftas page.Source: News24last_img read more

Justice Ministry and NIA Enter New Phase of Partnership

first_img “We shall be supporting the implementation of the Child Diversion Act to include training of police officers and other agents in the justice system,” said the NIA’s Executive Director, Professor Trevor Munroe. The Ministry of Justice and National Integrity Action (NIA) has entered a new phase of collaboration. The Ministry of Justice and National Integrity Action (NIA) has entered a new phase of collaboration.“We shall be supporting the implementation of the Child Diversion Act to include training of police officers and other agents in the justice system,” said the NIA’s Executive Director, Professor Trevor Munroe.He said that the NIA will also continue its drive for legislative reforms to strengthen the justice system framework.He was speaking at a press conference at the Ministry’s Constant Spring Road headquarters on Friday (Feb.15).Professor Munroe noted that the NIA will continue to support the sensitisation of Justices of the Peace (JP) and will facilitate a series of island-wide two-day training seminars to strengthen the capacity of JPs to properly administer justice through legislation and alternative dispute resolution.He said that over 1000 JPs will be targeted.The NIA will be integrating restorative justice practices in its integrity clubs, which are being implemented in schools across the island in conjunction with the Ministry of Education, Youth and Information.“We shall be expecting to produce awareness-building communication products, commercial advertisements so that the public becomes more aware of new developments particularly in the area of alternative dispute resolution,” Professor Monroe noted further.The NIA Executive Director said that the mandate of the entity, since its launch in December 2011 remains to combat corruption in all its forms, to strengthen integrity at all levels and to enhance good governance in all sectors particularly in the areas of transparency and accountability.“Fundamental to the advancement of this mission is the justice sector and therefore, part of our responsibility has been and remains to assist in making that sector more efficient and equitable in the service of the Jamaican people,” he noted.“We are excited by this new phase of our longstanding partnership and our expectation is that the collaboration will contribute to greater levels of integrity in the justice system,” Professor Monroe said. Story Highlights He said that the NIA will also continue its drive for legislative reforms to strengthen the justice system framework.last_img read more