Week commencing 8 August 2016

In today's bulletin

• Central London retail property market unaffected by Brexit vote
• LGA warns of drop in replacement council homes

• Analysis unveils infrastructure funding chasm between north and south
• Oil & Gas Authority to gain new powers

Property, Planning and Regeneration

Central London retail property market unaffected by Brexit vote

According to figures released by CBRE on 8 August, £1bn worth of Central London retail property was picked up by investors in the first 6 months of the year.
The real estate advisor found that acquisitions remained strong even after the vote to leave the EU, with overseas investors still leading the market.

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House price growth continues slowdown

Results from the latest Royal Institution of Chartered Surveyors’ (RICS) Residential Market Survey (released 11 August) have shown that growth has continued to slow for UK house prices in July.
The survey suggested that a lack of housing stock was partly responsible, with supply at a record low across the majority of the UK.

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LGA warns of drop in replacement council homes

The Local Government Association has warned that councils are struggling to replace council homes sold under Right to Buy in England. The latest figures suggest that the number of homes being replaced dropped by more than
a quarter last year, with national rules and restrictions cited as the main obstacles by local authorities.

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TPA calls on government to abolish stamp duty

A new report from the Tax Payers’ Alliance has called for the government
to tackle the UK housing shortage and to abolish the stamp duty on home purchases.

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Edinburgh top for student accommodation investment

Edinburgh is the best city to invest in student accommodation, according to research from estate agents Chestertons. Bristol, Brighton, Reading and
Oxford make up the rest of the top five, offering the best returns on investments.

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Bad neighbours reduce the value of houses

Research by Privilige Home Insurance found that the overwhelming majority of estate agents said that having a bad neighbour could have a serious impact on the value of property.
While a bad neighbour could devalue a house by over 8 per cent, a good neighbour could improve the value by nearly 10 per cent

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Great Britain’s construction output continues to fall

Recent figures released by the Office for National Statistics showed a 0.9 per cent drop in June output compared to May. It also showed a 1.4 per cent
drop in the second quarter of 2016 compared to the same period last year.

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Transport

Analysis unveils infrastructure funding chasm between north and south

New figures from the Institute for Public Policy Research North have revealed
that the north of England is six-times less funded than London on infrastructure.

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Three quarters of car parks to have electric charging points by 2025

JLL’s “Alternatives team”, have predicted that 75 per cent of car parks in the UK will have electric vehicle charging facilities by 2025 – reflecting the changing
make-up of British roads.

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£2 million fund for journey improvements launched

The Department for Transport has invited local authorities to bid on a share of the new £2 million fund. The fund has been developed to allow councils
to capitalise on emerging technologies to improve journeys for motorists.

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Energy and environment

Oil & Gas Authority to gain new powers

The Oil and Gas Authority will become an independent regulator as of 1 October, with new powers allowing it to act with more speed and flexibility to drive investment, support jobs and further the UK’s competitive edge in
the oil and gas industry, the Business and Energy Secretary, Greg Clark MP has announced.

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Air pollution warning signs to go up around London

The Mayor of London will introduce toxic air warnings at bus stops, tube
stations and road-sides across London due to air pollution.

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Nottingham meets 2020 climate change targets

Nottingham City Council has met its climate change targets four years ahead
of schedule as a result of energy saving initiatives and investments in renewables across the city.

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