Tag Archives: news
Latest data suggests slowing in residential markets in UAE
The residential property market in the United Arab Emirates seems to be going through a period of stabilisation with some locations seeing growth and others recording a slowdown. In the first quarter of 2016 sales and rental prices in upcoming, inland neighbourhoods across the UAE are rising while in prime areas they are falling, according to the latest property report from classified website Dubizzle. It records an increase of up to 13% in sales and rental prices in emerging locations such as Al Ghadeer, Al Reef and Al Furjan, when compared to the first quarter of 2015. For example, property sale prices in Abu Dhabi’s Al Ghadeer and Al Reef rose by 3% and 4% respectively when compared to the same quarter in 2015, while rental prices for one and two bed apartments in Al Reef rose by 9% while three bed apartments in Al Reef rose 11% and in Al Furjan in Dubai rents for one bedroom apartments increased by 13%. Meanwhile, prices in more established, central areas have dropped, for example rents dropped by 10% for one and three bedroom apartments in Abu Dhabi’s Corniche when compared to the first quarter of 2015. The same trend was seen in Dubai, where sales prices for properties in mature locations such as Business Bay, Dubai Marina, Downtown Dubai and Jumeirah Lakes Towers fell by between 8% and 10%. Business Bay saw rents for one bedroom apartments fall by 5% and two bedroom apartments were down by 4% while the rental price for three bedroom apartments remained unchanged. Data from property firm Bayut also records falls in some locations in Dubai in the first quarter of 2016. Rents were down by 3% year on year and sale prices down 6%. The firm believes that as more and more households move to the suburbs, investment opportunities in areas like Dubailand and Dubai Sports City could become more enticing. It suggests that the increased popularity of these localities coupled with low property prices has resulted in rental yields as high as 9%. ‘We think Dubai’s suburbs are ideal for both new home buyers who can still benefit from low prices and investors, who can enjoy impressive rental yields thanks to these areas’ rising popularity,’ the report says. Continue reading
Poll reveals how British people think their homes will be powered in the future
A wind turbine in the garden and electronic devices driven by exercise equipment are some of the revolutionary changes home owners in the UK can look forward to according to a new poll. Home owners certainly see homes being powered in a very different way from the current reliance on electricity from the national grid. A survey conducted by Gocompare Energy reveals that people think that in the future there will be wind turbines in gardens creating a personal power supply and little water turbines in gutter pipes and bathroom drains to harness further power. Other ideas that could become a reality include homes being roofed with tiles that have inbuilt solar technology while some of the more whacky ideas include floorboards that harvest energy as you walk across them. The poll asked if people thought that there would be changes in the way homes are powered in the future and the vast majority, 91%, stated that they thought there would. Of these, 84% believed power would come from ‘more sustainable sources’, with a further 61% believing that UK homes will become more ‘self-sufficient and independent’. Some 9% believed that homes will not be powered by any mains gas or electricity at all in the future. Some 55% thought appliances will be powered by exercise devices in the home, 51% believed that energy could be harnesses from water flowing through household drains and 43% thought gutters could generate power when it rains. Another 39% could believe that all roof tiles will automatically harness power from the sun and 22% could foresee a future with a wind turbine attached to every home while 14% thought flooring could be used to generate energy. In addition to these, 8% of respondents believed that certain modern gadgets that require a lot of energy would be banned in the future, including appliances such as kettles and washing machines and overall a third of respondents believed that these predictions could come into effect as soon as 2020. ‘It’s been fascinating to see what energy innovations people think we could see in our homes in the future. It’s no wonder that we are starting to see more people considering the sustainability of our power sources but that’s not to say that washing machines are going to be outlawed any time soon. If anything, they will just become more energy efficient,’ said Ben Wilson, an energy expert at Gocompare Energy. ‘What’s particularly interesting is that some of these predictions aren’t necessarily that farfetched. I could well envisage a workout station where you can charge your mobile phone while you work up a sweat, or the advance of solar technology to make it all a little more aesthetically pleasing for UK rooftops,’ he explained. ‘The industry is fast paced and alternative and renewable energy providers are constantly looking for new ways to generate power, so I could see some of these coming to British homes very soon,’ he… Continue reading
Research shows majority of UK parliamentarians support planning fees rise
Some 61% of MPs in the UK broadly agree that planning fees should increase and almost half 47%, say they should increase with stronger guarantees on planning performance. Indeed, MPS from all political parties support fees being changed, according to a new poll commissioned by the British Property Federation (BPF). Some 65% from the Labour party and 61% from the Conservative party support an increase in fees. The BPF says that the results show that Parliamentarians recognise that there is a problem, alongside the property industry and local authorities. The BPF and GL Hearn’s 2015 Annual Planning Survey revealed that 55% of local planning authorities perceived under resourcing to be a significant challenge, and that 65% of applicants are happy to pay more to shorten waiting times. The government has taken some steps to address this problem, proposing to allow local authorities to outsource the processing of planning applications and to reward well performing local authorities by allowing them to increase planning fees by an inflationary increase, but the BPF has warned that these steps will not go far enough. Responding to a government consultation on the technical planning changes set out in the Housing and Planning Bill, the BPF has welcomed the government’s recognition of the fact that local authorities ‘are struggling to provide the service required by applicants’, but cautions that the measures suggested will not be enough to plug the skills gap. ‘The public and private sectors have both been very clear about the need for more resourcing in local authority planning departments, and we now know that there is political understanding of this issue as well,’ said Melanie Leech, BPF chief executive. ‘We are supportive of the small steps that government is taking to address this, but are not holding out hope for any great impact. Some local authority planning departments are simply short staffed, putting those who remain under enormous strain,’ she explained. ‘Outsourcing the processing of planning applications is likely to relieve this burden to an extent, but it is not going to solve the chronic shortage of skills and resource that is the true problem,’ she added. Meanwhile, land broker Aston Mead is advising councils without up to date local housing plans in place to act quickly before the Government steps in to write their plans for them. Local authorities have been given until March 2017 to produce a local plan in accordance with the National Planning Policy Framework (NPPF), which was introduced in 2012. However, with less than a year to go, recent research suggests that fewer than a third of local planning authorities outside London have an up to date NPPF compliant plan. ‘It’s absolutely incredible that with the deadline looming large on the horizon, so few councils have got their act together. By next year they will have had five years since the introduction of the NPPF and yet the vast majority have still to… Continue reading
