Week commencing 26 September 2016

In today's bulletin

• New international measurement standard for residential property markets
• Bubble trouble for London, according to UBS

• Survey launched to examine highways industry skills shortage
• Energy sector must address cyber security risks

Property, Planning and Regeneration

New international measurement standard for residential property markets

A new international measurement is needed to provide a uniform method to judge the size and dimensions of floor space, according to the International Property Measurement Standards (IPMS) coalition, which represents more than 80 property organisations around the world.
The IPMS coalition highlighted that the new tool would add clarity to a market where the way residential property is measured can vary significantly, leading to confusion or disputes.

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Good landlords make more money

Landlords who build good, collaborative relationships with their tenants will see an increase in financial returns, according to research conducted by the School of Real Estate and Planning at the University of Reading.
The research showed that a rise in occupier satisfaction by one level (on a five point scale) would see average returns increase by 1.9 per cent a year.

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Bubble trouble for London, according to UBS

Swiss bank UBS has branded London’s property market one of the most overvalued in the world.
The UBS Global Real Estate Bubble Index placed London behind only Vancouver, blaming low interest rates.

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Many ignoring potential property flood risk

Insurers are calling for a new traffic-light warning system on property adverts to warn buyers of potential flood risks at properties. The move follows a
survey from the Association of British Insurers, which found that fewer than one in three people investigate flood risks when looking for a new home.

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Nationwide urges house builders to crack on

The Nationwide Building Society says the number of homes on the market is close to a record low, largely due to a lack of construction activity. Figures released on Friday 30 September show that annual house price inflation
fell from 5.6 per cent in August to 5.3 per cent in September. The building society’s chief economist Robert Gardner urged house builders to increase their output.

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Tax system is unfavourable, says property industry

A survey published by accountancy firm Crowe Clark Whitehill on Thursday 29 September reveals that over 70 per cent of UK property and construction companies believe the tax system is unfavourable to their industry.
The firm’s report, 2016 Property and Construction Outlook Survey, also provides a 12-month market outlook for the industry.

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Transport

Survey launched to examine highways industry skills shortage

Highways UK – the conference and exhibition taking place at the NEC in November – is encouraging highways industry professionals to take part in research that will try to examine the extent of the skills shortage in the sector.
The research is part of a joint initiative by organisations in the sector including Aecom, Machtech, the Chartered Institution of Highways and Transportation, the Institution of Civil Engineers, the Construction Industry Training Board, and Highways England.

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Khan could ban dangerous lorries from capital’s roads

The Mayor of London, Sadiq Khan, announced plans on Friday 30 September to rid the most dangerous HGVs from London’s roads by 2020. Using Transport for London’s Direct Vision Standard, which will rate HGVs will be
rated on the level of vision the driver has from the cab using a ‘star rating’. Vehicles with a rating of ‘0 stars’ will be prevented from driving in London. The scheme is due to be consulted on shortly.

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Transport Committee urges minsters not to proceed with ‘all lane running’ motorways

The government is being urged by the Transport Select Committee not to ignore safety concerns highlighted in its June 2016 report into ‘all lane running’ schemes on the country’s motorways.
Minsters’ are eager for the plans to go ahead but, Louis Ellman, chair of the committee has accused the Department for Transport of “blatantly ignoring the safety concerns set out in our report”.

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Energy and environment

Low carbon is a good investment

Spending on low-carbon power represents a prudent and popular investment for the future, says Richard Black, director of the Energy and Climate Intelligence Unit (ECIU). Mr Black was responding to a report from the Centre
for Policy Studies (CPS), which argues that policies supporting renewable energy represent poor value for money and that phasing out coal power is increasing the risk of power cuts.

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Energy sector must address cyber security risks

Addressing cyber risks in the energy sector is critical to energy security and is vital for a resilient state and economy, says the World Energy Council.
Its new report, The road to resilience: managing cyber risks’, aims to respond to a massive increase in the number of successful cyber-attacks over the past year.

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