London lettings showing “green shoots” says Foxtons

first_imgHome » News » Agencies & People » London lettings showing “green shoots” says Foxtons previous nextHousing MarketLondon lettings showing “green shoots” says FoxtonsTransport Zones 1 & 2 of the Capital have seen increases in demand from tenants but many areas continue to see rent drops.Nigel Lewis18th August 201701,098 Views Foxtons says demand for rental properties in the London lettings market increased during the second quarter of the year, helping offset ongoing drops in rents.The company says in its latest lettings report that this is evidence of “stabilisation” within the market, which has witnessed decreasing average rents for six months now.“While this might not appear to be a significant increase, it comes against a backdrop of decline, suggesting that green shoots are starting to appear,” says Ed Phillips, Foxtons’ Managing Director of Lettings (pictured, below).The number of renters looking for property who are registered for each rental property offered by Foxtons’ branches increased by 3.3% during the second quarter of the year.But rents continue to decrease across many parts of the London lettings market, for several reasons.This includes the glut of properties created by the rush to buy properties before the extra Stamp Duty was introduced in April last year.Also, several large build-to-rent schemes have gone live in the capital this year, including the 1500-unit in the former Olympic Village.Zoned inFoxtons says the reason for this growth is an increase in demand for properties within London’s central Zone 1 and Zone 2 travel bands, lead by both domestic renters who make up 39% of tenants, and Asian and Middle Eastern ones, who increased to 13.1% of the rental market.The most significant fall in rents in the second quarter were in Zones 3-6.“We’ve spoken before about how the lettings market traditionally benefits from uncertainty in the sales market, as potential buyers turn to the flexibility offered by renting,” says Ed Phillips.“With the sales market in the capital still a long way from returning to consistently strong growth, an increasing number of Londoners are indeed being drawn to the rental sector.”London lettingsIn its gloomy half year report Foxtons’ lettings division was reported as its least-worst performing division.Revenue from tenants reduced by only 2% compared to sales where revenues dropped by a third. The company blamed the slight dip in rental revenues on dropping rents, which it says dipped by 4% in June, although volumes increased by 1%. August 18, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Whoopie pie first for M&S

first_imgMarks & Spencer is the first British supermarket to launch a range of whoopie pies the latest bakery craze from the US with over 20,000 products sold in the first weekend.Burgeoning interest in the treat, which is made from two discs of sponge filled with buttercream, prompted the retailer to bring forward the launch date of the range to coincide with the first May Bank Holiday.Over 50 M&S stores sold out of whoopie pies in the first two days, with emergency deliveries needed to meet demand on the Bank Holiday Monday.”Whoopie pies are to 2010 what the cupcake was to 2009,” said M&S product developer Chris Seaby. “We brought the launch forward two months, because we knew they would be popular, but the response has been phenomenal.”Four-packs of the pies retail for £1.99 and are available in three flavours: chocolate with vanilla; vanilla with chocolate; and toffee.last_img read more

Three New Cases Of COVID-19 Reported In Chautauqua County On Thursday

first_imgShare:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window) JAMESTOWN – Three new cases of COVID-19 were reported in Chautauqua County on Thursday.Health Department officials say the cases involves a woman in her 30s and two women in their 60s.There are now seven active cases that continue to recover in quarantine.A total of 36 people have been infected with Coronavirus, 26 have recovered and three have died in relation to the outbreak. Related Reporting: New Drive-thru COVID-19 Testing Site Set Up In Mayville MGN Imagelast_img

The power of Biz Kid$ financial education grants

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Biz Kid$ is a powerful youth financial literacy tool that is available for credit unions through the National Credit Union Foundation.  Biz Kid$ is a financial literacy initiative launched nationally in January 2008 that teaches kids about money and business.The initiative includes an award-winning TV series, free classroom curriculum, outreach activities, and a website (bizkids.com) targeting children 9 – 16 years old.  The number one goal of the Biz Kid$ financial literacy initiative is to teach kids from upper elementary through high school to understand and incorporate the skills they need to successfully manage their financial lives.For the past few years, the Foundation has distributed about $100,000 in grants annualy to credit union organizations provide the tools needed to implement the Biz Kid$ program into communities and encourage kids to save and manage their money. One goal of the Foundation’s Biz Kid$ Financial Education Grants is to extend the reach of the series beyond broadcast into the community. This is the fourth year these grants are distributed, and so far the results have been amazing. continue reading »last_img read more

CFPB finalizes remittance rule raising threshold to 500

first_imgThe Consumer Financial Protection Bureau (CFPB) issued its final rule on remittancesMonday, which comes after strong CUNA engagement with the CFPB to finalize the rule. The rule raises the “normal course of business threshold” to 500 remittance transfers per year, up from the current 100.“The CFPB’s final remittances rule will help credit union members access safe and affordable remittance services from their credit union. We appreciate the CFPB for having given consideration to the concerns we expressed during the rulemaking process and making changes to the final rule. While we continue to believe an even higher exemption threshold is appropriate, this rule should result in more options for consumers which is always important, but even more so during the COVID-19 pandemic,” said CUNA President/CEO Jim Nussle.The final rule also includes a provision allowing depositories to continue providing estimates of exchange rates and certain fees in certain circumstances, language designed to mitigate the expiration of a statutory safe harbor involving fee estimates later this year. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Barcelona send warning to Arsenal over Samuel Umtiti transfer

first_imgBarcelona send warning to Arsenal over Samuel Umtiti transfer Advertisement Umtiti will stay at Barca, according to the club’s president (Getty Images)‘Now he has to recover from his injury as we want to have him in the best form possible.AdvertisementAdvertisement‘Having Umtiti and [Clement] Lenglet on the left [side of central defence] is a guarantee and I would like him to continue.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityOusmane Dembele has also been previously linked with a move to Arsenal but Bartomeu now considers the 21-year-old better than Neymar.‘It’s not possible for Neymar to come to Barcelona as we have another sporting project with Dembele and [Philippe] Coutinho,’ said Bartomeu.‘We are happy with what we have, as Dembele is better than Neymar and he is a good professional player.‘He is a young guy who arrived at a huge club and that’s not easy, but he has adapted and he is much better than Neymar.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Samuel Umtiti is on Arsenal’s radar (Getty Images)Barcelona president Josep Maria Bartomeu has told Arsenal that they do not plan to sell Samuel Umtiti this summer.Reports last month claimed that the Gunners have opened talks with the Spanish champions to discuss a potential deal for the France international.Unai Emery has also made it clear that he would be interested in a deal for Umtiti by claiming that the 25-year-old is a ‘very good player’ in an interview with French television earlier this month.But Bartomeu is adamant that Barca are planning to keep Umtiti.ADVERTISEMENT‘He renewed him before the World Cup, he has four years left on his contract and there is no Umtiti issue,’ Bartomeu told TVE. Metro Sport ReporterTuesday 16 Apr 2019 12:50 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Comment Advertisementlast_img read more

LAPFF trades blows with EU accounting adviser in IFRS 9 row

first_imgThe LAPFF first contacted the European Commission about the issue on 23 September.The local authority pension funds body warned that the EU Commission could in future face legal action were IFRS 9 to be endorsed.In that letter, the LAPFF also warned that, were the Commission to endorse IFRS 9, it could face a legal challenge through the courts.Despite the opposition to IFRS 9 from the LAPFF and other long-term investor interests in the UK, not all shareholder interest groups are opposed to IFRS 9.Eumedion, a corporate-governance lobbying forum, has lobbied both the European Commission and the European Parliament’s economic affairs committee in support of adoption.In a 30 November letter, obtained by IPE, Eumedion argued that any delay in clearing IFRS 9 “would increase the risk” that banks and insurance companies would be unable to convince investors to stump up fresh capital during any subsequent crisis.The LAPFF’s position on IFRS 9 endorsement is that Article 3(2) of the IAS Regulation 2002 requires IFRSs to comply with Article 4(3) of the Accounting Directive (2013/34/EU).Within Article 4(3), the LAPFF points to the requirement for accounts to “give a true and fair view of the undertaking’s assets, liabilities, financial position and profit or loss”.The true and fair view notion is at the heart of the argument the LAPFF and other investors have about IFRS accounts.They claim IFRS is defective and fails to meet this requirement.This shortcoming, they argue, caused what appeared to be well-capitalised banks with apparently healthy balance sheets to implode during the financial crisis.These investor groups point to current IFRS financial-instruments literature, together with the use of mark-to-model fair values, as one reason why IFRS fails to meet the true and fair criteria.They also complain about the lack of accounting prudence in the IASB’s conceptual framework.The IASB has responded to these and other criticisms with a project to replace its current financial-instruments standard with IFRS 9, Financial Instruments.It has also unveiled plans to reintroduce the concept of prudence to its conceptual framework.Meanwhile, in a separate development, the EFRAG hit back at the charge its IFRS 9 endorsement advice was legally flawed in a further letter to the Commission.In that letter, the EFRAG agreed with the LAPFF that Article 4(3) of the Accounting Directive refers to specific numbers in the accounts.However, the EFRAG went on to argue that this requirement must be read alongside Recital 9 of the IAS Regulation.In its latest response to this claim, the EFRAG said the EU should consider the true and fair view requirement “in the light of the said Council Directives without implying a strict conformity with each and every provision of this Directive”.The EFRAG added it had “concluded that IFRS 9 is not contrary to the true and fair principle”.An LAPFF spokesperson told IPE: “Recital 9 [of the IAS Regulation] is not undermining the core purpose of accounts per the Accounting Directive set out in Recital 3, which is member and creditor protection.“Quite the opposite, in fact. Recital 9 is allowing for the dropping of those things that are not essential in the light of that core purpose.”The statement concluded: “The EFRAG’s reading is back to front and wholly arbitrary because it drops the essential purpose and falls back onto extraneous matters instead. The EFRAG has no power to change the very purpose of legislation.”The row over prudence in accounting, the true and fair view requirement and, latterly, IFRS 9 has dominated the landscape between audit watchdog the Financial Reporting Council (FRC) and some investor parties.The increasingly bitter war of words between the FRC and these investors has seen both sides take specialist legal advice on the issues of prudence and the true and fair view in a bid to gain the initiative.Alongside its analysis of the legal test for adopting a new IFRS, the EFRAG said insurance industry concerns were insufficient reason to delay the adoption of IFRS 9.The IASB’s work on insurance liability accounting has yet to come to an end. In February 2014, the board voted to fix IFRS 9’s effective date at 1 January 2018.This move means insurers must apply the new insurance standard several years after they have applied IFRS 9 – even though the two standards are supposed to complement each other.The EFRAG said in its 1 December letter to the Commission that the benefits of applying IFRS 9 from 2018 outweighed any hardship the insurance sector might face.The advisers wrote: “[We] concluded that the efforts necessary to support financial statements presenting a true and fair view would not, in all circumstances, lead to an acceptable cost-benefit trade-off.” The war of words between the Local Authority Pension Fund Forum (LAPFF) and the European Union’s advisory body on accounting matters, the European Financial Reporting Advisory Group (EFRAG), shows no sign of letting up.In the latest development in the battle over the endorsement of the International Accounting Standards Board’s new financial instruments accounting literature, the LAPFF and the EFRAG have written to the EU’s internal market commissioner, Jonathan Hill, to clarify their position on IFRS 9.The LAPFF argued that the EFRAG process “is defective because it has used the wrong endorsement criteria”.The EFRAG, meanwhile, insisted its reading of the law was correct.last_img read more

Batesville Battles Brookville In Legion Baseball

first_imgBatesville at Post 77 Brookville, 6/18/15.(Played just 6 innings due to rain)Batesville Post-271 300 011.   5 7 1Brookville Post 77-215 00x.   8 3 2For Batesville:Wyatt Schebler 1-1, 2 runs, 3 bb, sbLeo Enneking 1-3, run,Taylor Kopplin 1-3, run, bb, sbBrandt Ricketts 2-2, rbi, doubleKyle Siefert 0-0, run, bbMatt Kuebel 2-3, double, rbiBaker Howard 0-3, rbiLeo Enneking pitched 2 inningsBrandt Ricketts pitched 1 inning and took the lossWyatt Schebler pitched 2 inningsPost 271 record: 0-4Next game: Sunday, June 21 vs. Muncie American Legion.Courtesy of Batesville Legion Coach Doug Behlmer.last_img

Franklin County Auditor transforms to better comply

first_imgBy Nyttend [Public domain], from Wikimedia CommonsBrookville, In. — A report from the Franklin County Observer says new Franklin County Auditor has made changes to help the county comply with state regulations.Since January 2017, Bauman has been presenting claims for payment of social security and other withholding from employees’ paychecks. She explained the procedure should have been in place for the last 20-years. Bauman has also implemented new procedures and forms to track county-owned capital assets. However, commissioners tabled action on the issue because of pending changes to the depreciation schedules.In an unrelated issue, Bauman is working commissioners to properly define the difference between an improvement, renovation and repair and how to correctly determine the value of government buildings.Bauman was named auditor after embattled incumbent, Stephen Brack was arrested for felony theft charges.last_img read more

Aubameyang delivers his contract demands to Arsenal

first_img Aubameyang hit a brace in Arsenal’s victory over Norwich this week and has scored 22 goals in 36 games across all competitions this season. read also:Aubameyang Demands £250k-A-Week To Remain At Arsenal The Gabon international currently earns around £200,000-a-week, although his contract contains various add-ons. Aubameyang’s next contract is likely to be his last major deal and he is determined to benefit as much he can financially. FacebookTwitterWhatsAppEmail分享 Loading… Pierre-Emerick Aubameyang has delivered his personal demands to Arsenal in new contract talks. Aubameyang has less than a year remaining on his current contract, and head coach Mikel Arteta this week expressed hope that the 31-year-old will stay at the club. ESPN says he is demanding a three-year contract and wages of around £250,000-a-week to stay at the club.Advertisement Promoted ContentThe Models Of Paintings Whom The Artists Were Madly In Love WithYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeWho Is The Most Powerful Woman On Earth?Which Country Is The Most Romantic In The World?9 Facts You Should Know Before Getting A Tattoo11 Most Immersive Game To Play On Your Table TopBirds Enjoy Living In A Gallery Space Created For ThemTop 10 Most Romantic Nations In The WorldA Hurricane Can Be As Powerful As 10 Atomic BombsBest Car Manufacturers In The WorldMost Outstanding Female Racers Who Made History In Sports7 Black Hole Facts That Will Change Your View Of The Universelast_img read more