Archive for November, 2008

Safe as houses – Your risk of flooding!

Posted: November 4th, 2008

The Minister for Agriculture and Rural Development, Michelle Gildernew and Environment Minister Sammy Wilson have launched a strategic Flood Map for Northern Ireland.  The map which is the culmination of work undertaken by the Rivers Agency and the Department for the Environment allows the general public unhindered access to flood map information.

The map has been designed to increase awareness amongst the general public, local authorities, utilities and other organisations of the probability of flooding and to encourage them to be better prepared and take appropriate action.

There are many considerations to factor in when moving to a new area or home.  With the noticeable changes in climate over recent years home owners are becoming increasingly aware that flood risk is another factor to consider when purchasing property.  Minister Gildernew said “In recent times we have seen the damage which flooding can do and the major disruption and distress that it can cause.  Flooding is a natural phenomenon and these experiences highlight the need for better management of flood risk.”

The number of properties within Northern Irelands river and coastal flood plaines is around 45,000, however many of these have a minimal likelihood of flooding due to their elevation or position in relation to flood defences.   For further information on the Flood Map, or to view it, visit the Rivers Agency’s website or click the following link. www.riversagencyni.gov.uk

SOURCE: NORTHERN IRELAND GOVERNMENT NEWS

Save our greenfield land

Posted: November 3rd, 2008

A committee of MP’s have recently met and called for the government to review its target to build 3 million new homes by 2020.  The report from the environmental audit committee calls on ministers to recognise that the slowing of the housing market means that greenfield sites could be developed unnecessarily.

The Chairman of the EAC, Tim Yeo has called for a review of government targets, stating that they were set in a time of ‘economic optimism and easy credit’.  Last year Gordon Brown announced that he wanted to build 2 million new homes by 2016 and a further million by 2020.  In light of the current economic conditions the EAC has called for a radical review of these targets.

Mr Yeo has added “The government needs to ensure that in the current market downturn, an excess of land is not made available to developers which could lead to greenfield land being developed in preference to brownfield.  Once greenfield land is released for development, this land will be lost forever.”

Senior campaigners are calling for targets to be revised to ensure that we recycle brownfield land and bring back into use empty buildings before building on green fields.

Margaret Beckett, Housing Minister has responded to calls to revised the targets by saying “We have shown we can build the homes that are needed whilst protecting the environment and preventing urban spraw.  Now is not the time to scale back on long term ambitions because of economic difficulties”

Source: The Guardian

Tenants Win!

Posted: November 2nd, 2008

With all the talk of recession and focus on the economic downturn its hard to believe anyone can be benefiting from the difficulties in the property market.

However figures published show an increase in the number of properties for rent but a decrease in the average rent.  With many sellers unable to sell their properties, it appears they are being forced to join the increasing number of landlords.   This increase in rental properties has resulted in a reduction in rents despite the fact that the number of prospective tenants has also increased.

Although Landlords generally look for the costs of buy to let properties to be covered by rent, the effects of supply and demand on the market place means that this may not be possible in the current climate.  

Whilst industry experts claim the largest drops in rental prices are at the top end of the market place, figures for the last quarter reflect a 4.2% drop in the market overall.   Experts have expressed concern at the effects this will have on an already dwindling property market.  Demand for purchasing is generally stimulated when the cost of a mortgage is more financially beneficial than the cost of renting.  With the difficulties in obtaining mortgages and affordability issues, the benefits of renting may be higher for the foreseeable future.

Source: The Guardian