British farmland prices rising faster than prime London property – Telegraph.co.uk

Dry-stone walled field near Castletown, Dark Peak, The Peak District, Derbyshire
British farmland costs have elevated by means of 270pc over the ten years to 2012 Picture: ALAMY

Britain’s farmers – now not Mayfair property speculators – have been the giant monetary
winners of the remaining decade with new analysis exhibiting the worth of their land
nearly quadrupling.

Rising world meals demand, local weather alternate and overseas funding attracted by using
liberal British land possession rules have helped to make a hectare of British
farmland sold in 2002 one of the easiest performing investments in the
us of a, in accordance to new analysis from Savills.

Up to 2012, just right agricultural land in the UK had grown 270pc in price from 10
years past to $25,575 (£15,415), outstripping positive factors in high relevant
London, which rose by means of 135pc over the related length, in accordance to Savills.

Interactive chart: Moderate farmland values in 2012

“The common view is that increase is going to proceed in the UK, although values
are very excessive and how lengthy it can be sustained is uncertain,” stated James
Cairns, from Savills global land markets.

Britain’s inexperienced pastures are price three instances the worth of a hectare of
farmland in the US and extra than 15 occasions the value of an similar paddock
in Australia, two of the world’s biggest meals producers.

The excessive retained worth of farmland in the UK has additionally attracted the passion
of massive sovereign wealth cash looking for a steady funding in which to park
their capital, in accordance to Savills.

“The UK is considered as a stronghold of capital renovation and if they can put
their wealth into a UK farm, that’s very fascinating to them”, mentioned Mr
Cairns.

Alternatively, British farmland – which has delivered an annual 14pc boom price –
is nonetheless at the back of the moderate international development. World farmland values –
primarily based on 15 key markets – have elevated by way of an reasonable 20pc, in accordance to
Savills.

Demand in another country is being pushed by means of local weather alternate and rising demand for meals
from Asia’s swiftly rising rising economies.

“If local weather exchange is having an impression on manufacturing in locations like Australia
and The united states and harvests are affected via flooding or drought, then international
provides are affected, which manner it’s extra necessary to boost farming
task in new areas like the rising markets”, mentioned Mr Cairns.

The best possible boom charges are in international locations such as Romania, Hungary, Poland,
Zambia, Mozambique and Brazil. Romanian farmland values grew through 40pc per
yr over the decade to 2012, double the international reasonable and the quickest
increase of any usa due to the fact that its accession to the EU.

“As a basic rule, the rising markets like Romania and Zambia are rising
very speedy and taking a look at the subsequent ten years, they’re going to be the
international locations I would are expecting to have the most increase, each in phrases of earnings
and capital”, stated Mr Cairns.

Interactive chart: Annual exchange in worth of farmland 2012

Out of the country funding in UK arable land fell from 9pc in 2003 to 2pc in 2012, as
in a foreign country traders are looking for higher worth per acre on residence soil.

However the UK is nonetheless viewed as horny to world patrons, as the UK and
Eire are the best solely free markets for farmland out of these
surveyed through Savills. Just about each different us of a restricts international possession
of land.

Out of the country consumers of British farmland experience liberal land possession regulations and
industry property aid, with the capability to go down holdings to the subsequent
era with out incurring inheritance tax.

“Sovereign wealth money in the Heart East and Asia are taking a look to gather
massive cash and arable areas to develop meals for their personal meals safety.
There’s funding passion from The united states, Europe, Australia,”
stated Mr Cairn.

Hugh Coghill, director of land markets at Savills, stated that even if
funding in world farmland markets was once an increasing number of widespread, predictions
are unsure as there’s little lengthy time period knowledge on the space.

“Funding in international agriculture, and to a level in world forestry, has
handiest been on the agenda due to the fact that about 2005. The markets of the world are
immature”, he stated.

Remaining 12 months it was once published that the price of UK high arable land rose by using 10.7pc
to £7,594 an acre in 2012, with increase of 40pc to £10,631 forecast by means of 2018.

Unions: 'Name landlord who received £1m Torbay housing benefit' – Torquay Herald Express

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Torquay Herald Express
Unions: ‘Name landlord who received £1m Torbay housing benefit
Torquay Herald Specific
Torbay has the best possible share of individuals in the south west and seventh very best nationally of households receiving housing advantages. In the Bay 70 per cent of individuals residing in rented lodging obtain housing advantage, when compared to a nationwide

French landlord and letting agent fined over flat the size of a toilet – Property Wire

Image A landlord and a property agent in Paris have been ordered by way of a court docket to pay virtually €12,000 in damages to a tenant who lived in a 1.fifty six sq. meter condo described as a hovel for 15 years.

The tenant, names best as Dominique, paid €300 a month for the flat and used to be unaware that it violated Paris metropolis with the aid of rules which set a minimal dimension for a apartment property of 9 sq. meters.

However in this case the condominium, in the eleventh arrondissement which is one of the most densely populated elements of Paris, was once the measurement of an moderate rest room with room best simply for a mattress, sink and a single hob for cooking. There used to be no rest room and no bathe.

The landlord and the Riberoux property sellers who managed the flat had been ordered to pay a complete of €10,000 in damages for violation of property rights, €1,000 in ethical damages and €815 to duvet relocation bills.

The tenant’s case used to be championed via French housing charity the Fondation Abbé Pierre, which marketing campaign in opposition to the letting of minuscule flats, many of which are being rented out in Paris illegally.

‘Unless then the smallest flat I’d ever viewed used to be three sq. metres, however Dominique broke that unhappy file. Some landlords are unscrupulous. The legislation is there however it desires to be enforced,’ stated Samuel Mouchard from the group.

‘Tenants want to be aware of that it’s forbidden. If they have doubts they can go to their native City Corridor the place measures can be taken to give protection to them or to rehouse them,’ he delivered.

The court docket ruling comes at a time of yr in France which is recognized as the eviction season with the finish of a rule that prevents landlords from kicking tenants out all the way through the wintry weather months. Below the so-known as ‘wintry weather truce’ from 01 November to 01 April it is unlawful for landlords to kick out tenants for any motive, even if they haven’t paid their employ for months.

In accordance to the most latest records to be had, one hundred fifteen,000 households have been topic in 2012 to courtroom ordered evictions, an elevate of 37% in the final 10 years.

The president of the nationwide landlords union, Union Nationale de la Propriété Immobilière, mentioned the moratorium will have to be stopped.

There has been speak of growing a fund to subsidise tenants who are in hassle, however the thought has long past nowhere. A legislation that is to take impact in 2016 may have served this function, however its necessities will be not obligatory. 

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Unions: 'Name landlord who received £1m Torbay housing benefit' – Torquay Herald Express

[unable to retrieve full-text content]


Torquay Herald Express
Unions: ‘Name landlord who received £1m Torbay housing benefit
Torquay Herald Specific
Torbay has the easiest share of folks in the south west and seventh absolute best nationally of households receiving housing advantages. In the Bay 70 per cent of folks residing in rented lodging obtain housing merit, when put next to a nationwide

French landlord and letting agent fined over flat the size of a toilet – Property Wire

Image A landlord and a property agent in Paris have been ordered by using a courtroom to pay virtually €12,000 in damages to a tenant who lived in a 1.fifty six sq. meter condo described as a hovel for 15 years.

The tenant, names simplest as Dominique, paid €300 a month for the flat and was once unaware that it violated Paris metropolis via rules which set a minimal measurement for a condominium property of 9 sq. meters.

However in this case the condominium, in the eleventh arrondissement which is one of the most densely populated elements of Paris, used to be the measurement of an reasonable bathroom with room simplest simply for a mattress, sink and a single hob for cooking. There was once no bathroom and no bathe.

The landlord and the Riberoux property marketers who managed the flat had been ordered to pay a complete of €10,000 in damages for violation of property rights, €1,000 in ethical damages and €815 to duvet relocation bills.

The tenant’s case was once championed through French housing charity the Fondation Abbé Pierre, which marketing campaign in opposition to the letting of minuscule flats, many of which are being rented out in Paris illegally.

‘Unless then the smallest flat I’d ever viewed was once three sq. metres, however Dominique broke that unhappy file. Some landlords are unscrupulous. The regulation is there however it desires to be enforced,’ mentioned Samuel Mouchard from the group.

‘Tenants want to comprehend that it’s forbidden. If they have doubts they can go to their native City Corridor the place measures can be taken to offer protection to them or to rehouse them,’ he introduced.

The courtroom ruling comes at a time of 12 months in France which is recognized as the eviction season with the finish of a rule that prevents landlords from kicking tenants out throughout the wintry weather months. Beneath the so-known as ‘iciness truce’ from 01 November to 01 April it is unlawful for landlords to kick out tenants for any cause, even if they haven’t paid their employ for months.

In accordance to the most latest facts to be had, a hundred and fifteen,000 households had been topic in 2012 to court docket ordered evictions, an raise of 37% in the final 10 years.

The president of the nationwide landlords union, Union Nationale de la Propriété Immobilière, stated the moratorium will have to be stopped.

There has been speak of growing a fund to subsidise tenants who are in hassle, however the thought has long past nowhere. A legislation that is to take impact in 2016 may have served this goal, however its necessities will be non-compulsory. 

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London Property Boom: How China's Investment Invasion Challenges Russian … – International Business Times UK

Chinatown London

China is investing extra than any different nation in London property value beneath £1m, in accordance to Knight FrankReuters

Russian oligarchs hoovered up London’s high property when they got here to the metropolis to purchase soccer golf equipment and media companies.

Oil-wealthy Arab states like Qatar are lining the English capital’s skyline with cloud-tickling towers as their moneyed electorate settle in the extremely-pricey components of west and critical London.

And rich Europeans from struggling states such as Greece have ploughed cash into London’s top property market to give protection to their money from the eurozone’s black gap economic system.

However now it’s China’s burgeoning billionaire type who are eyeing London’s high property, as the Asian powerhouse watches its financial system march in opposition to being the world’s biggest – probably via the finish of the decade.

In accordance to the property analysis agency Knight Frank, China changed Greece in the prime ten desk of teams of buyers in London throughout 2013, coming in to joint fourth position with Italy. Above them had been home UK buyers, Russia and the United Arab Emirates.

The Chinese language have been additionally granted the most tier one investor visas via the UK, which quick tracks the immigration course of for these who need to make investments extra than £1m (€1.2m, $1.66m) in the u . s ., on the grounds that the scheme’s 2008 launch. They overtook Russia.

Bumps in the street for China’s financial system, such as a slowdown in manufacturing job, have additionally pushed the united states’s rich in opposition to London property as an funding chance.

“Different components embody the increase of overseas commute and social media, the energy of the Chinese language Renminbi versus Sterling and a need to break out air air pollution in some areas of China,” stated Tom Invoice, an affiliate in Knight Frank’s residential analysis division.

“All of that comes in opposition to the unsure backdrop of a $10tn economic system that is moving its focal point away from heavy trade against consumerism.”

He persevered: “Chinese language patrons prize London for its heritage, colleges and universities, rising ranges of new-construct houses and the reality residents are no longer taxed on their world wealth, in contrast to the United States.

“The truth Canada scrapped its immigrant investor programme this yr will additionally advantage London as the North American u . s . a . had been a common vacation spot.”

Outer top London

Costs in some of the conventional high London markets, such as Mayfair and Belgravia, are barely rising.

Whereas these in outer high areas, such as Islington, Wandsworth and Clapham are rocketing.

And it’s in these areas, the place you can nonetheless decide up first rate-sized houses for below £1m with rather a lot of attainable for revenue-making, that the Chinese language are concentrated on.

Knight Frank stated the Chinese language sold extra sub-£1m properties in London right through 2013 than the earlier 5 years mixed.

Chinese language funding in this property bracket grew to a 7.5% element of all overseas funding in that 12 months, up from simply 2.7% in 2010.

“It is the easiest share of any international purchaser on the grounds that 2008 in a worth bracket that most often marks an entry level into the London market,” stated Knight Frank’s Invoice.

Capital controls

In 2003 there have been no buck billionaires in China. Through 2013, the Hurun Wealthy Checklist recorded 315. Furthermore, there used to be a four% raise in China’s greenback millionaires in 2013 – taking the whole to 2.eight million.

Some of this increasing wealth has already made its method to London. A Chinese language developer has signed a £1bn deal to construct a new monetary district in London’s Royal Albert Dock. It will characteristic workplaces, retail outlets, and houses all on a 35-acre website online in London’s Docklands.

The plans will have to be absolutely realised by means of 2021/22 and it is hoped the space will grow to be a gateway for Chinese language companies atmosphere up in the European market.

Moreoever, Chinese language and UK authorities have simply agreed on London getting its first Renminbi clearing financial institution, cementing its standing as a western hub for buying and selling in China’s limited foreign money.

However it’s simply that – China’s capital controls – that may just prevent Chinese language funding in London and its property.

“Regardless of sturdy demand, controls on outflows of capital from China recommend there gained’t be a unexpected step-alternate amongst patrons in the top London residential market,” mentioned Invoice.

“The reality Chinese language patrons are the fourth biggest staff in high vital London even with outflow restrictions in location suggests minor modifications in Beijing in future might neatly have a important sure impression in London.”

The UK may just additionally take steps that will put the brakes on international funding in London property.

Chancellor George Osborne has stated they will be topic to capital positive factors tax when they promote up, a levy in a foreign country traders have been no longer topic to in earlier years.

And there is the possibility of a new property tax on homes value over £2m if the opposition Labour birthday party wins the 2015 normal election.

This is anticipated to weigh on home value boom in London, in particular the high and outer top areas.

However as soon as the political uncertainty has been eliminated after Could 2015, funding in London property will almost certainly decide up percent as soon as once more – and it appears like the Chinese language will lead the manner.

Council paid housing benefits to "squatters" – Echo

Southend landlady had to inform council to cease paying advantages to domestic residing employ free in her property

Echo: Council paid housing benefits to "squatters"Council paid housing advantages to “squatters”

SOUTHEND Council paid housing advantage to a domestic allegedly residing in a home illegally and now not paying appoint.

The advantages division claimed it was once proper to pay the handouts in an instant to the domestic, even although they are stated to have no tenancy settlement for the three-bed room property in Exceptional Highway, Southend.

Landlady Rita Patel, forty five, who is attempting to evict the domestic, mentioned she had misplaced about £7,200 in unpaid appoint and felony charges.

Romuald Usowicz is residing in the residence with his prolonged domestic after he took on the property from his estranged spouse Teresa Usowicz, who was once evicted in the autumn.

Mrs Patel: “It is a nightmare.

They have no tenancy settlement.

Echo:

Employ free: The home in Fine Highway

Echo:

Evicted: Teresa Usowicz

“I am making an attempt to get them out via the courtroom and the council goes and begins paying housing advantage to them when they are no longer even paying me employ.’’ The household are believed to have bought £1,360 in housing advantage over two months earlier than the council stopped the funds.

Mrs Patel mentioned she hoped the household would be evicted quickly.

She delivered: “With misplaced employ and criminal prices, I am now significantly out of pocket.”

Joe Chesterton, the council’s head of finance and tools, mentioned: “We can not remark on particular person circumstances as a result of the events have a proper to confidentiality.

Echo:

Eyesore: Junk and steel in backyard

Echo:

Echo:

What a mess: Rita Patel surveys property throughout a discuss with

“Alternatively, the council takes each cheap step to be certain that housing merit is lawfully paid, and in this case, we are glad it has been. The related legislation permits us to recuperate any housing advantage the place it ought now not to have been paid, or the place there has been fraud. The council investigates circumstances of fraud, which can consequence in prosecution.

“Even if it is excellent follow to have a written tenancy settlement, there can be casual preparations, say in a case the place a companion continues to be in the property and the unique tenant leaves.

“If the landlord accepts the housing advantage funds, then these can be paid, even if the tenant has no formal tenancy settlement.”

The Echo spoke toMr Usowicz via his daughter, as he stated his English was once bad.

Echo:

Easy: bed room earlier than 

Echo:

Squalid: Similar room after occupation

Echo:

Damaged: broken kitchen drawer

He stated: “We had been paying the employ, however it was once stopped as a result of she (Mrs Patel) would no longer deal with issues like mice and a gasoline leak.

“She stated she may no longer do the rest. We have tried to pay the appoint once more, however she does no longer need it as a result of she simply needs us out. We have nowhere else to keep and the council is now not serving to us but.”

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Letting agents association announces redress service ahead of new law – Property Wire

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London's Brent borough leads Britain for rising house prices – The Guardian

Queen's Park
Queen’s Park, the trendiest section of Brent, has witnessed Britain’s quickest rising property costs. Photo: Linda Nylind for the Guardian

For years the London borough of Brent used to be synonymous with Wembley stadium and Ken Livingstone’s constituency when he used to be an MP. It integrated some of the capital’s most disadvantaged areas, and used to be as soon as dubbed the force-with the aid of-taking pictures capital of the UK.

On the other hand, Brent residents, and extra specifically these in the trendiest section of the borough, Queen’s Park, woke on Wednesday to the reality that their small nook of north-west London remaining 12 months witnessed Britain quickest rising home costs. Properties right here outpaced the oligarch and banker hotspots of Chelsea, Westminster, and even Knightsbridge.

Builders, overseas consumers, and a massive quantity of households downshifting from the neighborhood and tremendous-pricey Notting Hill house, have, in accordance to marketers, despatched costs to hitherto inconceivable heights. Value will increase in Queen’s Park have made millionaires of heaps of residents.

Nazir Shah, of Lewis Estates, in Queen’s Park, stated: “It has been loopy in contemporary months, surprising. A couple of months in the past we offered a two-mattress flat that is due to full on Friday for £560,000. If we put it again on the market as of late it would make £625,000, if no longer extra.

“Properties that bought for £1.1m a few months in the past are already value £1.35m, and costs have been transferring up so quick it’s grow to be very troublesome to worth properties. We’ve been asking the providers what they hope to get, and until their valuation is loopy, placing it on for that quantity. Sealed bids are common, with the winner steadily paying £15,000 to £20,000 over the asking value.”

Throughout the highway at the retailers Queens Park Partnership, Alan Isaacs stated the house had increasingly more develop into the sizzling option for London’s smartly-off households spurred via its excellent transport hyperlinks, extensive tree-lined streets, park, and robust group. He stated homes that offered for £one hundred fifty five,000 in 1990 had been now fetching in extra of £1.4m. Renting a home in the house now value a minimal of £1,000 a week.

Value will increase in Queen’s Park have despatched a ripple via the borough, helped by way of the gentrification of neighborhood Kensal Upward thrust and Willesden Inexperienced. Even Harlesden, as soon as notorious for its shootings, is vastly on the up. “If you’re feeling courageous now’s the time to purchase in Harlesden. It’s most effective going one method,” mentioned one agent.

Unions: 'Name landlord who received £1m Torbay housing benefit' – Torquay Herald Express

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ONE personal landlord in Torbay got extra than £1million in public cash closing yr, a Freedom of Knowledge request has published.

Now calls have been made for the names to be launched of the personal landlords receiving the best ranges of housing advantages for tenants.

A Torbay Council inner overview has been launched. Union individuals in South Devon say native authorities in different places in the u . s . have launched landlords’ names in the public hobby.

The FOI remark displays the high 20 non-public landlords and letting firms whose tenants jointly bought extra than £6million in the closing monetary yr. Many of the funds are paid direct to landlords.

Torbay has the perfect share of individuals in the south west and seventh very best nationally of households receiving housing advantages. In the Bay 70 per cent of individuals dwelling in rented lodging obtain housing advantage, when put next to a nationwide reasonable of forty per cent.

The Freedom of Data request got here from union spokesman Paul Raybould (pictured), of Torbay Trades Union Council. He is sad the names of 14 non-public landlords are redacted and changed by means of six Xs and has known as for a overview of the choice no longer to make the full listing of names public.

“It’s public cash and folks are entitled to recognize who the cash is paid to,” Mr Raybould mentioned.

Council Freedom of Knowledge officers stated the data was once exempt as a result of it ‘does no longer invoke the public hobby take a look at’.

Cllr Darren Cowell, Labour, mentioned: “It’s disgusting. I am involved over £1million of public cash can be paid to an particular person with out any public scrutiny. I take note some authorities have launched all of the data.”

The Torbay TUC and the GMB union says different native authorities in different places in the united states of america have no longer redacted the names of landlords on the grounds the knowledge is in the public pastime. They are asking why Torbay Council is now not releasing the names.

The GMB has launched figures which displays Torbay has the best proportion of rented households on advantages in the south west and seventh perfect in the UK.

In Torbay there are thirteen,696 rented households and extra than seventy one per cent of these properties (9,776) are receiving housing merit.

The desk launched by using Torbay Council exhibiting the high 20 landlords whose tenants obtain the greatest quantities of housing merit in Torbay in the monetary 12 months 2012/thirteen, with the names of person landlords redacted, displays the prime earner got £1,060,449.sixty six remaining yr.

The 2nd best person got £301,429.sixty nine.

The subsequent 18 got sums ranging downwards from £202,158.forty five to £seventy nine,193.03.

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