| Buy-to-let flourishes in credit crunch
The CML forecast a 15pc drop in house sales next year, warning that first-time buyers and home movers would be the worst hit. However, their misfortune is likely to strengthen tenant demand and keep rents buoyant. Property in prime areas of central London, such as Notting Hill and Chelsea, are expected to see rents rise 14pc this year, and a further 9pc in 2008, according to Knight Frank. Overall, the agent sees UK rents rising by 7pc in 2007, and 6pc next year. The CML said it expects interest rates to fall by 5pc by the middle of next year, which would substantially improve rates of return for investors. It also pointed out that investor demand may be encouraged by the proposed changes to the capital gains tax rules - a cut in the rate from 40pc to 18pc from next April.
Kazaa settles for $100m
A new live shopping network, scheduled to launch in October 2006, will replace the existing Tel Sell network and air in over 4 million analogue and digital cable households. The network will feature a 'falling price' auction format, which promises to entertain the viewer whilst showcasing quality products at attractive prices, thereby delivering great value to the consumer. The new network will initially air 5 hours live per day and will eventually grow to 14 hours live per day over time, seven days a week. The new network will be truly interactive. TV viewers/shoppers will be able to buy from a broad range of products from homeware to electronics, jewellery to toys. In time all products that appear on TV will also be available online with TV viewers bidding by telephone alongside online shoppers on the web.
Home Front: Down in the trenches, pessimism on housing takes hold
The customary real estate experts have had their say about the state of the Sacramento-area housing market for 2008. In last week's column their consensus called for a rough first half of this year, a more stable second half and some sense of a turnaround and recovery in early 2009. But we asked, too, for your take on the market. The responses seemed a little more pessimistic than the authorities we quoted. Here's a sampling of fresh opinion from others in the real estate industry and some new views from street level. Dave W. Walker, general building contractor in Citrus Heights: .
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