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U.K. Must Decide Who Leads Bank of England in Life After Brexit

The Bank of England will need a new governor in 18 months, when Mark Carney steps down having guided the economy through Brexit so far. Though he’s been controversial at times, the U.K. will need a safe pair of hands to take over and ensure stability for banks, consumers and businesses as the nation deals works through its departure from the European Union.

If Carney’s own appointment is the blueprint, a successor could be announced late this year. A Treasury spokesman said recruitment will begin in “due course.” Speculation has already begun on who will take over, with Andrew Bailey, the head of Britain’s financial regulator, a unit of the BOE, seen by economists as one current favorite.

With the U.K. due to exit the EU just three months before Carney departs, the appointment will face extra scrutiny because he was frequently accused of promoting an anti-Brexit view. There’ll also still be a transition period to work through — unless the U.K. quits with no deal — and any number of issues that could hit confidence and the economy.

Brexit Football

The new chief, who will ultimately be appointed by Chancellor Philip Hammond, risks becoming a political football in the Conservative Party’s internal struggles over Brexit. They may also have to work with their potential successors from left-wing Jeremy Corbyn’s Labour Party, who have suggested the BOE is out of touch and that some of its functions should move to Birmingham.

“It takes immense talent to juggle all the elements of the role,” said James Rossiter, an economist at TD Securities in London and a former BOE official. “There’s not a lot of people with that. It will be a challenge.”

Carney’s experience gives a foretaste of what is to come. The Canadian steered the three-century old institution through choppy waters both before and after the vote, first cutting, then hiking, rates and repeatedly clashing with pro-Brexit lawmakers over his views on the likely impact of leaving the EU.

The bank, which has never had a female governor, has also come under fire for a lack of diversity in its in top roles, particularly in gender. Nicky Morgan, who oversees the committee that will confirm the appointment, said that when a shortlist is eventually drawn up, there “should be a diverse field.”

Safe Hands

So while a woman who was in favor of, or at least neutral on, Brexit would seem the most politically expedient choice, the current list of apparent candidates seems to err more toward continuity than revolution.

Bailey, the BOE’s former chief cashier and current head of the Financial Conduct Authority, is seen as a leading replacement for Carney, while Dave Ramsden, a former Treasury official who joined the MPC last year, is another favorite. Deputy governors Ben Broadbent and Jon Cunliffe are also seen as contenders.

The front-runner tag hasn’t always been an advantage for contenders for the governorship. As Mervyn King approached the end of his tenure in 2013, then-Deputy Governor Paul Tucker had been widely seen as the natural successor, before the Libor scandal knocked him out of the running.

This time round, one possible candidate has already fallen by the wayside. Charlotte Hogg, newly appointed to the MPC and seen by some as a potential favorite for the role, resigned last year after the Treasury Committee criticized her for failing to disclose a potential conflict of interest.

For all the speculation that will mount in coming months, the likely winner may be hard to identify.

Last time round, Carney kept himself out of the early betting, signaling that he wasn’t a candidate. Asked on the BBC in August 2012 whether he would be interested, he said he was “very focused” on his current posts and would be “interested in who they pick” to replace King.

Asked whether his answers meant “a no or a never consider the job?” he said: “It’s both. How’s that?”

Source: Investing

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First time landlords’ appetite for property proves buy-to-let remains popular

Seven percent of a mortgage lender’s new business in 2017 came from first time landlords – despite regulatory and tax changes that may have acted as a deterrent.

The stream of new landlords peaked in November when 11 per cent of the lender’s applications came from first timers, says buy-to-let lender Accord Mortgages.

The figures are proof that buy-to-let remains a popular option for people who are looking to safeguard their financial future, despite recent moves from government to suppress the market.

And 57 per cent of Accord’s buy-to-let applications received last year were from landlords affected by new changes, with one third (32 per cent) of that cohort, coming from those with four or more properties.

Another 18 per cent were from landlords classed as consumers – that is, single property landlords where they or their relatives have previously lived.

Chris Maggs, commercial manager at Accord, said: “2017 was a year of remortgaging for landlords who reaped the benefit of some exceptional mortgage rates, and 2018 is likely to be no different.

“Last year Accord, like many other lenders, adapted its mortgage offerings to meet the changing needs of the market.

“Equally, as new regulation was implemented landlords have begun to adapt to ensure their business withstands the changes.

“This doesn’t negate the fact that things are still tough for landlords, and hopefully 2018 will give them some breathing space to take stock of the changes.

“However, landlords have demonstrated resilience when presented with challenges in the past, and I’m sure that will continue into 2018.”

Source: Simple Landlords Insurance

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Moving home can add £144,600 to divorce bill

Aviva’s family finances report showed moving out of the marital home can add £144,600 to this bill on average for those 16% buying a new property, and more than £35,000 for those 51% renting.

Paul Brencher, Aviva UK health and protection director, said: “The breakdown of a marriage or long-term relationship is likely to be one of the most emotionally demanding life events for people who experience it. Such circumstances are made all the harder due to the lack of preparedness by many.

“Without taking away from the primary emotional strain, there are other significant costs which have the potential to cause further disruption to family units.

“Aside from the costs of a new home, separating couples across the UK spend £1.7bn getting back on their feet after the breakdown of a relationship on costs including legal fees, buying a car or paying for a newfound need for childcare.

“As a consequence, it is little surprise that they are drawn towards their savings for support or borrowing from friends and family. Many additionally find themselves priced out of the property market.”

The majority (68%) of couples who divorce or separate have financial issues to resolve, with the process taking on average 14 and a half months, three months longer than in 2014. Over a third (34%) stated they found the process worse than expected.

Nearly half (46%) of home-owning couples sell their property leading to both partners having to find a new home. This is in addition to those who move out while their partner stays in the former joint home.

One in six (16%) buy a new home after separation, with an average cost of £144,600 per person, rising from £94,100 in 2014. This is significantly lower than the average UK house price of £226,185, suggesting the likelihood that people are downsizing to a smaller property.

Brencher added: “While it may seem completely unnecessary to plan for such an unfortunate life event, it is important that both partners in a relationship take an active interest in their financial affairs, even if one tends to take the lead.

“Ensuring a better mutual understanding of household finances can make navigating the process more manageable if the relationship takes an unforeseen turn, while preventing long-term financial planning from going off course.”

More than half (51%) move to the rental market after their divorce or separation, spending an average of £7,519 each year on rent.

While individual circumstances will differ, the average time spent as a tenant post-separation is 4.7 years. Almost one in five (19%) rent for more than a decade after splitting with their former partner.

Of those currently renting as a result of their split, seven in ten (70%) feel that they will be unlikely to buy a property in the future.

And 16% of couples remain living together in the same house since they can’t afford to move.

This is more common in London (28%), where property prices are far higher than the national average, with two fifths (39%) having carried on this arrangement for longer than three months.

Nearly one in three (31%) of those who have split say they have dipped into their savings for financial support, while over a quarter (26%) admit using credit cards for this reason.

Moreover, 6% have resorted to cancelling or cutting back their protection cover. The same number cancelling or reducing their pension contributions to supplement income after they separate.

The findings come as the latest official data showed the number of divorces in England and Wales rose for the first time since 2009, increasing by 6% between 2015 and 2016 to 106,959.

Source: Mortgage Introducer

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The UK’s five most bang average areas for homeownership

The most average parts of the UK house price growth wise are East Renfrewshire in Scotland, St Albans in Hertfordshire, Thurrock in Essex, Bath and North East Somerset and Copeland in Cumbria.

Estate agent Emoov found these areas have seen the same 4.1% increase in UK house prices since January 2017, the same as the average UK house price increase according to the Land registry.

Russell Quirk, founder and chief executive of, eMoov, said: “There is a tendency to concentrate on the highest and lowest growth areas when looking at the UK market, but we thought we would take an alternate look at how things have played out over the last year.

“While being branded as average may not always be the best thing, in this case, it’s certainly no insult and in tougher market conditions these areas have remained steady in terms of a bricks and mortar investment.”

South Yorkshire, Tonbridge and Malling homeowners also had a rather average 2017 with prices up 4%.

Similarly so did those in Basildon, Redbridge, Daventry, East Dorset and Castle Point with a 4.2% increase.

Price wise, Northamptonshire is just over £500 lower than the national average with an average price tag of £223,265, the only part of the UK where the average price sits in the £223,000 bracket. However, this area has enjoyed a much higher annual increase at 8.6%, nearly double that of the UK.

Source: Mortgage Introducer

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Why open banking creates a new landscape for asset finance

A new era in finance starts this weekend as the deadline passes for major banks to comply with new open banking legislation that promises to revolutionise consumer and business funding.

In truth, the revolution has started with a whimper rather than a bang, as many of the major banks have secured an extension beyond the January 13 deadline for the new regulations, but over the long-term, it has the potential to change how businesses and consumers source finance.

Open banking is a general term that describes two pieces of regulation: the Competition and Market Authority’s ‘Open Banking Remedy’ and the European Second Payment Services Directive (PSD2).

It requires banks to provide access to current account data to third-parties if customers give their consent.

Through open Application Programming Interfaces, banks can share data with third parties in a secure manner, without customers having to make their usernames and passwords public.

APIs are already commonly used in a range of business environments, such as insurance companies automatically retrieving vehicle data from government databases to speed up the quotation process.

Open banking carries more risks, as companies will be delving into financial data of consumers and businesses, so security is paramount, hence the request for more time from some banks.

Every company using open banking to deliver their services has to be authorised by the Financial Conduct Authority (FCA) or another European regulator.

Gavin Littlejohn, chair of fintech industry body The Financial Data and Technology Association (FDATA) and fintech representative to the UK’s Open Banking Implementation Entity (OBIE), said: “Our industry has offered services that let customers – around two million at the last count – give our member firms direct access to their accounts for several years.

“However, the method we have had to use, which literally ‘reads’ customers’ online banking screens, has never been what we would have chosen.

“We are enthusiastic about the potential of open banking, which provides a direct feed into and out of accounts using tried and tested and highly secure standardised communications technologies.

“There is a lot of work still to do to bring the full benefits of open banking to UK consumers and businesses, and we now need to work closely with colleagues in Europe to align this solution to the standards being worked on there, but this is a momentous milestone.”

Auto finance provides a good example of how APIs and open banking could change finance transactions.

Often requests for finance require substantial amounts of paperwork and scanned or printed documents from bank accounts, which all takes time to review and process.

Under open banking, APIs can make customer financial data available for immediate analysis by the finance provider, enabling in-depth reviews of their financial status to confirm affordability and support compliant sales processes in seconds.

In addition, aftersales functions such as a change of address, or a request to adjust the terms of a loan, can be carried out more quickly.

The use of APIs means that finance providers can plug this new data source into their existing systems to transform application processes.

Rob Haslingden, head of product marketing and propositions at Experian, said: “The additional data can be used on top of credit risk data to give an overall view of affordability.

“So, under open banking, the API can give up to 12 months of transactional data to reveal discretionary spending as well as regular bill payments. This can then be interrogated to iron out things like one-off payments or seasonal variations and you get an overall view of affordability rather than just credit risk – which is more for the lender than the customer.”

Therefore, APIs can take finance beyond credit scores and make the experience more personal to each customer, while also minimising risk by giving a clear picture of someone’s true financial position.

It is also important in a customer experience context too, as it potentially saves customers from being asked in-depth questions about their finances on a face-to-face basis – something that many find awkward.

Continual sharing of data will allow for better loan management.

Gareth Lodge, analyst at Celent, said: “Product providers can see how much an existing loan is, what the term left is, the rate of interest and penalties etc., and therefore potentially be able to intervene before a loan reaches term to start the conversation about renewal or other appropriate steps.

“Product manufacturers will be able to use data to hone their offering, assess affordability, improve their general service and add value via better and faster risk modelling technology at their own back-end.”

Richard Ryan, partner at Invigors, added: “Companies involved in asset finance and leasing are now seeking revenues that extend beyond just making a percentage on a loan. They are looking to use data to provide value-added services that can be effectively monetised and therefore add to the bottom line.”

While lenders will benefit because they can provide a more personal service and swift finance agreements, the use of open APIs is likely to increase competition as aggregation services step into the space between the customer and the finance company.

For example, rather than customers being offered a generic finance quote for their next car, they could receive personalised quotes from a panel of lenders in real-time.

However, this may be a key step in ensuring customers receive the service they have come to expect in many other industry sectors.

The flow of data via APIs makes for easier and better decision-making by asset finance providers.

Steve Taplin, global sales and marketing director at Alfa, said: “Allowing data to flow between customer, dealer and finance provider makes for better automation and therefore service – which leads to retention and loyalty.”

James Tew, CEO of finance platform iVendi, added: “If a dealer can key in information once but then access a number of lenders, track the process and see the likelihood of a deal being accepted all via an app that sits on their website, then that adds value to them.”

In the US, Capital One has built an open API platform to enhance the auto financing experience, which is being used by Vroom, an online direct car retailer that allows customers to order a car on their computer and have it delivered to their home.

Shishir Singhania, from Capital One, said: “The API allows consumers to get the loan for the vehicle while sitting on the computer at their house, versus having to go offline and talk to someone. That is a unique experience.

“That provides a layer of transparency to our consumers that they never had before because they had to talk to an F&I manager in a store and work with them to find out what the terms of the loan would be.

“When the customer is buying a car, they are trying to figure out the rate they need to pay, what their monthly payments would be and they want to have the flexibility of changing certain things in the loan. The API can answer those questions in a pretty seamless way while they are on Vroom’s site.

“It is very sophisticated to give consumers the answers they need, but as a consumer, it is very simple.”

APIs are also being used by finance providers in other ways to help improve the customer experience.

Black Horse Finance is in the middle of a phased rollout of open APIs.

The first one, which is already in use, allows the customer to get a settlement figure.

Jim McCaffrey, director of customer propositions and business enablement at Black Horse Finance, said: “Getting a settlement figure is a high-volume request that is relatively straightforward to fulfil. It’s acted as a proof of concept but now the plan is to extend the range of services and partners so things like quotes, credit decisions, figures for future value as well as aftersales service will all be available.”

Whatever the platform, the success of the open banking system in delivering a better customer experience in auto and equipment finance will be reliant on the customer being willing to share their data in the first place.

Research from Accenture in October 2017 said that two-thirds of consumers in the UK would not share their financial data with third-party providers such as online retailers, tech firms and social media companies.

More than half (53%) said they will never change their existing banking habits and adopt open banking.

It is likely that patience will be required to give consumers time to assess the idea of data sharing in return for better service.

Taplin said: “Of course there is concern, but customers have already given their data to the asset finance provider in order to transact with them – there need to be clear rules that are understood and here standardisation does come into play.”

Haslingden added: “If consent is given then providers can build that data into their lending processes and make operational gains and provide a better customer experience. But they will need to position the advantages of data sharing to customers very well in the first place.”

Source: Asset Finance International

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Ambition set out for ‘dramatic increase’ in annual number of new homes built

Housing Secretary Sajid Javid said he wanted to see “a dramatic increase in annual numbers” of new homes built.

Housing Secretary Sajid Javid has set out an ambition for more than 300,000 new homes to be built each year by the mid-2020s.

The Secretary of State for Housing, Communities and Local Government was speaking on a visit to a new housing development in Cambridgeshire where he launched Homes England, the new government agency which is replacing the Homes and Communities Agency (HCA).

He said that housing affordability was the “biggest housing issue in this country”, and while increasing the number of homes built from round 217,000 per year to 300,000 was a “big ask” he believes it is achievable.

He described Homes England as “the new government agency which is part of our plan to make sure we’re building far more homes in this country”.

He continued: “What this agency will do, and today here where we are in Cambridgeshire is a fantastic example of it, is help to assemble land, especially brownfield land, that can be developed into homes and work with those developers, help them with infrastructure and particularly focus on what I call the small and medium-size developers to help them build the homes that we need.”

Asked how the launch of Homes England was more than a rebrand from its predecessor the HCA, he said: “One thing that’s very different from before is the new agency has a lot more power, including a lot more what I would call firepower, so a lot more financial resources for example.

“One good way of demonstrating that is investment in infrastructure and what we found is to bring more housing sites forward and to bring them forward more quickly it really helps if you can invest in the road and rail links and other types of infrastructure that you need.

“If you can do it upfront, so you can show the local community that that infrastructure will definitely be there, I think you will get a lot more interest and you can bring forward a lot more sites.”

He said he wanted to see “a dramatic increase in annual numbers” of new homes built.

“What I’ve set out is by the middle of the next decade I want to see the current, around 217,000, number rise to at least 300,000,” he said. “That’s a big ask but I’m sure we can do it if we continue to work in partnership with developers, with local councils and others to get this done.”

He continued: “Housing affordability I think is the biggest issue in housing in this country and there’s far too many people, particularly younger families, that feel that owning or even renting a decent home is out of their reach.

“Clearly that’s not acceptable, so in the long term what we’ve got to continue doing is to increase the number of homes built each year.

“We’re at almost a 10-year high at the moment but we need to do a lot more.”

He said that in the short term “more immediate” help on offer included schemes such as Help To Buy and the lowering of taxes such as the cut in Stamp Duty.

Source: BT.com

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Edinburgh housing market cools

Edinburgh’s housing market is showing signs of settling down after a whirlwind 18 months, says Warners Solicitors and Estate Agents.

There is likely to be more sellers in 2018, encouraged by a favourable 2017 which saw consistently rising house prices and more properties listed.

David Marshall, operations director at Warners Solicitors and Estate Agents, said: “This is long awaited good news for buyers who have been at the sharp end of Edinburgh’s price rises and its undersupply of homes.

“The cooling in the market can partly be attributed to seasonal factors, but, more importantly, there has been a rise in the number of properties coming onto the market.”

During the last three months of 2017, Warners recorded a 13% annual rise in the number of properties being brought to the market for sale.

The average selling price was 5.4% over their home report valuation during the final quarter of the year, down from 6.0% in the preceding three months.

Marshall added: “The increase in new listings is significant because the main factor driving the seller’s market over the last two years has been that lack of supply. Demand from buyers has consistently outstripped the supply of homes for sale.

“As a result the homes that were available for sale generally attracted a large number of buyers, resulting in the low selling times and high premiums that characterised the market.

“With more homes now coming onto the market, there is greater competition between sellers leading to the cooling in selling times and premiums that we have seen recently.”

It is predicted that the annual house price inflation in 2018 is to stand at around 2.5% in the local market, having been as high as 10% during 2017.

Source: Mortgage Introducer

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Buy-to-let: challenges and opportunities for landlords in 2018

Adapting to change has proved a valuable skill for many landlords over the past couple of years.

There has been an onslaught of legislation which has proved financially damaging for many landlords in recent times.

However, returns have remained healthy and many investors have reviewed their property ventures and made changes necessary to maintain profits.

Still life in the market

I expect to see more of the same enterprise and resilience as we progress through 2018.

Here are a few good reasons why I think buy to let remains a viable consideration for many landlords:

  • Demand for rental property remains sky-high, with Government plans to reverse the housing shortage likely to take decades to complete, meaning there is a willing market for investors to cater to;
  • Returns on buy-to-let continue to generate profits for landlords in most areas of the UK, with yields continuing to rise;
  • Lenders continue to offer a wide choice of products meaning there is healthy competition in the marketplace;
  • Despite the recent Bank of England Base Rate rise, which led to some mortgage rate increases, in the context of historical interest rates, we remain at the very low end of the scale. This has seen further investment in buy-to-let property and the remortgage market;
  • The Government appears to have acknowledged the role that the private rental sector has to play in the long-term resolution of the housing crisis – and forthcoming changes to Universal Credit, along with the proposal to incentivise landlords to offer longer tenancy agreements, underline that there may, at last, be scope to offer landlords a carrot rather than to beat them with a stick. 

Challenges to be aware of

Aside from the tumult expected from Brexit, below is a summary of issues for landlords to monitor in 2018:

  • The bedding-in of the PRA changes and how this impacts your remortgage and purchase plans;
  • The increasingly complex lending environment, born of legislative change and widening product choice;
  • Any Bank of England Base Rate changes, which may impact mortgage rates;
  • Changes to the letting industry in England, Scotland and Wales, including the likelihood of a ban on letting agent fees in England and Wales;
  • Any Government move to incentivise landlords to offer 12-month tenancies, currently under review;
  • Changes to the Universal Credit process, which in theory at least, should offer landlords greater reassurance that rent will be paid on time;
  • New Minimum Energy Efficiency Standards; by April 2018, landlords will not be able to provide new tenancies unless their property has a minimum Energy Performance Certificate (EPC) rating of ‘E’;
  • Potential new rules regarding the compulsory fitting of carbon monoxide alarms by landlords throughout England and Wales, something already in place in Scotland.

Staying on the right track in 2018

As mentioned earlier, landlords have had to show great resolution and a willingness to address the challenges put in front of them over the past couple of years.

I expect this to be put to the test once again in 2018, but by keeping on top of changes and having a clear investment strategy that takes into account how these might affect returns, I believe that buy to let has plenty to offer investors into 2018 and beyond.

Source: Love Money

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59 homes could be built across a Notts town

Up to 59 homes could be built on three vacant sites across a Nottinghamshire town.

If plans are given the go-ahead by Mansfield District Council’s planning committee, homes could be built on Westfield Lane, Colston Road and Sherwood Close.

Three separate planning applications were submitted to the council this month for a mix of houses, apartments and bungalows.

All sites are within a five-mile radius of each other.

Plans for the Westfield Lane site were submitted by Munkbridge Homes Ltd. The company wants to build 14 bungalows on the former care home site, which was demolished some months ago.

The planning application submitted by the developer states: “This development should have no detrimental impact on the existing neighbouring properties.

“More than adequate parking is provided within the site and it is hoped that this is satisfactory in terms of layout, scale and appearance and a satisfactory residential environment.”

The application for the site includes plans for 28 car parking spaces.

At the Colston Road site, which is described as a brownfield site, developer Urban Plus Ltd has applied for permission to build six one-bed and six two-bed apartments.

The planning application submitted to the council states: “The area currently suffers from new quality investment, this is evident in the existing housing stock in the locale.

“The development will provide area regeneration, employment from construction work during the development.

“The proposal will result in the delivery of high quality residential development in a sustainable brown field location.”

Gleeson Homes wants to build 33 two and three bedroom homes on land off Sherwood Close.

If it’s given the go-ahead, 11 of the homes would have two bedrooms, and the remaining 22 would have three bedrooms.

The site was used as allotment gardens up until 2016, and has now been stood empty for some months.

The developer said this area has become a “fly-tipping” hot spot, and believed the homes would get rid of this issue.

Forty car park spaces are also planned as part of this application.

Source: Nottingham Post

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House price growth more than halves as earnings are squeezed

House price growth fell sharply in 2017 compared with the year before, according to new figures from Halifax.

The December Halifax House Price Index recorded an annual 2.7% rise in 2017, down from 6.5% in 2016.

Prices in December 2017 actually fell 0.6% as compared to November 2017, making it the first monthly decline since June last year.

Average prices were £225,021 at the end of 2017, up 2.4% on the start of the year in January.

The December figures are in line with Nationwide, which last week reported annual growth of 2.6% for December.

Russell Galley, managing director at Halifax Community Bank, said: “As we’d anticipated, the housing market in 2017 followed a similar pattern to the previous year.

“House price growth slowed, whilst building activity, completed sales and mortgage approvals for house purchase all remained flat.

“This has been driven by a squeeze on real wage growth and continuing uncertainty over the economy.

“However, nationally house prices in 2018 are likely to be supported by the ongoing shortage of properties for sale, low levels of house building, high employment and a continuation of low interest rates making mortgage servicing affordable in relative terms.

“Overall we expect annual price growth to continue in the range of 0-3% at the end of 2018.”

Commenting on the index, Jonathan Hopper, managing director of Garrington Property Finders, said: “After ebbing and flowing throughout 2017, the annual rate of property price growth ended the year back at the modest level it hit during the chaotic weeks following the snap election.

“But despite the slowdown in price rises, Britain’s property market is far from seizing up. More than 100,000 homes were sold in every month of 2017, and many parts of the UK ended the year with a spring in their step – with brisk demand firing respectable, if not stellar, price growth.

“Yet it’s a different story in parts of London, where a flight of equity is sucking the momentum out of price rises. On the front line we’re seeing a split between domestic buyers who are increasingly looking beyond the capital for better value elsewhere, and astute international investors who are capitalising on softening prices and the weak pound to buy in some of the most prestigious postcodes.

“As we begin the new year, there are signs of a renewed sense of purpose among buyers, with those who have resolved to buy pressing ahead despite political and economic headwinds.

“As long as there are no unforeseen shocks – such as a change of government or the collapse of Brexit negotiations – we expect this gradual progress to continue.

“Nevertheless demand is accompanied by one overriding caveat – price sensitivity.

“With wages falling in real terms and rail commuters suffering inflation-busting ticket price rises, buyers face a balancing act when assessing value, and even the most determined are willing to walk away if the price isn’t right.”

Source: Property Industry Eye