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Daily Record
a day ago
- General
- Daily Record
Gardeners warned of 'ticking time bomb' and told to act now
Householder should be aware of the issue before it's too late. Householders are being warned of a 'ticking time bomb' which may be growing in your garden. According to experts at PropertyMarket, if you have Japanese Knotweed near your home, you should act now. The pesky plant has a deceivingly harmless appearance, but if left undetected, it can have costly impacts on your property. During the summer months, the East Asian plant grows rapidly, usually by around 10cm per day, causing some serious damage along the way. It is easy to mistake this plant as a pleasant addition to your garden, but it is important to address its presence as a priority. As well as growing rapidly, it can reach heights of around three metres and burrows deep underground. Japanese Knotweed can force its way through expansion joints in concrete, cavity walls, weaknesses in the damaged mortar between paving slabs or bricks, and it can also hinder drains and sewers. If left unaddressed, it can also potentially cause substantial structural damage, especially to properties that are more vulnerable, such as character homes. The plant, described by the PropertyMarket experts as a "ticking time bomb", reportedly causes over £170million in damages to properties each year. It can be helpful to seek expert advice to help plan an effective treatment regime for Japanese Knotweed and to help minimise any potential return. If you haven't heard about Japanese Knotweed or don't know what it looks like, then it is very easy to miss it in your garden. "This plant has various growth stages throughout the year, which can make it hard to identify. In the spring, it will have red or purple asparagus-type shoots, quickly transforming into green or bamboo-like stems, but then in the early summer, it is usually fully grown at three metres high. By this time of year, the plant flowers will produce clusters of spiky stems in tiny creamy-white flowers. The leaves are luscious green and show their unique flat, shovel, or heart-shaped appearance. During the late autumn and winter, the leaves drop, and the canes become dark brown. The Japanese knotweed then remains dormant during the winter months before coming back to life in spring. The correct treatment will depend on a variety of factors. However, there are normally two methods to beat the issue: herbicide treatment or physical removal through excavation. A severe Japanese Knotweed infestation can make your home significantly harder to sell and can lower the value of your property. Buyers may look to renegotiate the initial offer for any property, if they know they will need to spend time and money eradicating any of the plant. Homewares deal of the week Looking to beat the heat as temperatures continue to rise? Then look no further than Dunelm's White Rechargeable USB Desk Fan that has an almost perfect five star rating for its small, yet mighty, design that means it works "even on the lowest setting." Easy to connect via a USB cable that can be connected to laptops and computers, this desk fan is perfect for those who find themselves working from home on these sweaty, humid summer days. However, it doesn't need to remain plugged-in, as the rechargeable element and compact six-inch design means it can be taken anywhere, even placed on a bedside table overnight on summer nights thanks to its "quiet" operation. It's finished with four speed settings to choose from and an adjustable angle that can help direct the cool breeze where it is needed, unlike other models that can sometimes be stuck in one place. As for Dunelm's own mini desk fan, it has received an impressive 4.8 rating from impressed shoppers who say that, despite its size, it is "surprisingly powerful" and "a literal life-saver" during this kind of weather. One five-star review read: "Fantastic fan, surprisingly powerful, quiet, lasts for quite a long time when charged, very hard to find a decent small rechargeable fan but this is it, will be buying more!" Beat the heat with Dunelm's White Rechargeable USB Desk Fan that costs just £25. However, most UK lenders will still potentially lend to consumers if they can feel assured that the problem can be treated effectively. Michael Holden, a former NAEA Propertymark president, said: 'When buying a home, the key issue is to make sure that you ask the vendor and the estate agent as to whether the property has had any present or historic issues with Japanese Knotweed or invasive plant species generally. "Bamboo, for example is now becoming more of a concern. Where there are potential issues, it is advisable that a specialist survey is undertaken to identify invasive plants in the property's garden and any other matters that would require further investigation.'
News.com.au
15-07-2025
- Business
- News.com.au
‘Back to square one': Problem with First Home Guarantee Scheme
Alexandra Prenc-Sadler moved back in with her parents and out of Sydney's eastern suburbs to save up to buy a home, and she's already faced a defeating setback. The 31-year-old is planning to take advantage of the First Home Guarantee Scheme, which allows first home buyers to buy with a deposit of as little as 5 per cent. She has also given up on the Sydney market, where the median apartment price is now over a staggering $1 million, and is planning to relocate to Wollongong to buy. Ms Prenc-Sadler, who works as a fundraising specialist for the Flying Doctors, has been actively looking for property, but she's already hit a significant snag that feels unfair. 'I am looking to buy with the five per cent deposit scheme, which is directly linked to your tax returns,' she told To qualify for the scheme, Ms Prenc-Sadler needs to show that she is earning at or below the $125,000 income cap. She also needs to produce her most recent notice of assessment (NOA), which is a statement issued by the Australian Taxation Office (ATO) that explains how your tax assessment is calculated. 'I was told I can't put through my tax return because of certain shares that I have. The estimate for when those statements would come through wasn't until September,' she said. Ms Prenc-Sadler is crushed; she's worried that rates will continue to trend down, properties will surge and, by the time she can get her notice and qualify for the scheme, she won't be able to afford anything. 'Initially, I was excited about the scheme because it meant, as a solo first homebuyer, I finally had a chance at entering the property market, and you get your hopes up because you think it is possible,' she said. 'Then you hit this roadblock because of the tax, and you miss out on the property you wanted because of it, and that is disheartening.' She feels like she's 'back to square one' and even before this news she already felt like she was 'struggling' to get into the property market. 'I was born and raised in Sydney but can't afford there,' she said. 'I'm a solo buyer and I can't afford a house. I'm looking at units because that is going to be cheaper, but then you get the strata bills and fees, and strata alone is what my rent used to be.' She is also beyond frustrated with people telling her to spend an extra $100,000 and get something bigger. 'I need to service this loan by myself,' she said. Ultimately, Ms Prenc-Sadler will have to wait until she can get her tax return done before she can buy. She's worked hard to save $40,000 but that isn't more than a 5 per cent deposit, even for a small place in a regional area. 'If I had to go in at 20 per cent, there was no-way I could do it by myself. When you save, you're saving, but the property market is going up,' she said. 'Your saving rate can't keep up with the property rate. It is a vicious cycle.' Accountant Coco Hou said that first home buyers really need to complete their taxes before trying to take advantage of the scheme. 'To qualify for the First Home Guarantee Scheme, buyers must provide their latest Notice of Assessment from the ATO to confirm their income is below the threshold. $125,000 for singles, $200,000 for couples' she told 'While lenders can begin processing applications from July 1, they cannot finalise the guarantee until the tax return has been lodged and assessed.' Ms Hou said it can leave people stuck in a 'timing trap' where they can't buy even though they're ready to. 'Many buyers find a property in July or August, only to realise they can't complete their application until they receive the ATO paperwork,' she said. 'Lenders might progress the application to pre-approval, but the guarantee itself remains on hold until documentation is complete. 'This creates a conflict between securing the property and accessing the scheme, particularly for buyers trying to enter the market early in the financial year.' The accountant said it is forcing buyers to make tough and quick choices in an already hard market. 'Buyers are often forced to make a choice, either go ahead without the scheme and come up with a larger deposit or pay Lenders Mortgage Insurance, or wait for the tax return to process and risk losing the property,' she said. 'Some miss out entirely, either because the property goes off the market or because they can't afford to proceed without the support of the scheme.' Ultimately, the tax stipulation can end up 'disadvantaging buyers who are proactive and often in the lower to middle-income bracket' who rely on the scheme the most, Ms Hou said. Craig McDonald, director of CBM Mortgages, told that he is dealing with a lot of clients at the moment who want to use the scheme but can't until they finalise their tax returns. 'It is a bit catch-22,' he said. Mr McDonald said that, for some people, doing their tax return isn't simple; they might be waiting on shares, or be self-employed and waiting on invoices to come. The regulations around the scheme mean that once a new financial year starts, people need to provide their latest notice of assessments, and therefore, it can hold buyers up. 'I've got a client who lodged their tax return as soon as they could. Now they're waiting on their notice of assessment to arrive and that can take over 10 days,' he said. It can leave first home buyers waiting around and feeling fretful because everyone is keen to buy. 'People want to jump because they see property prices going up. They want to get in sooner rather later,' he said. 'It is that fear of missing out.' Mr McDonald argued that the scheme needs more 'leeway' because it is currently causing undue inconvenience. 'The scheme helps many first home buyers enter the property market without having to pay the mortgage insurance, but the process could be improved. 'An option could be to allow clients to use the previous year's notice of assessment up until October.'
Yahoo
14-07-2025
- Business
- Yahoo
Shard flats left empty after Reeves's non-dom tax raid
Luxury flats at the top of The Shard have been left empty after Rachel Reeves's non-dom tax raid drove away wealthy buyers, the property's Qatari backers say. Real Estate Management (Rem), which is owned by the State of Qatar, said that it was 'very disappointed' with lack of progress made on letting out 10 luxury flats on the 72-storey skyscraper's upper levels, which are priced at between £30m and £50m each. Rem said Ms Reeves's tax changes for wealthy individuals was 'driving many such investors away' from Britain and hammering demand for ultra-expensive property. 'The long-heralded change in UK tax rules applied to overseas residents, which were accelerated by the current UK administration to apply from April 2025, [has] had the feared impact of driving many such investors away from the UK to escape double taxation of their worldwide income,' it said in accounts. 'This group of wealthy overseas investors has been the core constituency for super-prime lettings in the UK.' Ms Reeves abolished the non-dom status in April this year, while also bringing in sweeping inheritance tax changes. Those changes have been blamed for driving some of Britain's wealthiest people away from the country. The flats, on floors 53 to 65 of The Shard, were thought to have been priced between £30m and £50m after the skyscraper opened in 2012. They have been empty ever since, amid speculation that Qatar's royal family kept the flats for their own use while visiting London. Rem is an investment adviser tasked with letting out the flats. The properties are owned by another Qatar-backed entity, LBQ Four. The flats were made available for occupation in late 2023 after undergoing construction works, but despite 'every effort' to let them their availability coincided with a 'severe contraction' in the ultra-prime property market, Rem said. Rem's portfolio includes the Shard Quarter, The News Building and Park House on Oxford Street. It also owns The Shard's viewing gallery, which has reported 'difficult trading'. Qatari Diar, the property division of the state's sovereign wealth fund, bought 80pc of the skyscraper in 2008 after the project ran into financial difficulties. It later increased its stake to 95pc, with developer Sellar Property Group owning the remainder. The difficulties at The Shard capped off a difficult period for Rem, with pre-tax profit falling from £8.1m to £7.5m in the year ending December 2024. Rem also said it was struggling with recruiting and keeping skilled managerial and building staff, as well as the workforces of business partners contracted to undertake services across its property portfolio. Wars in Ukraine and the Middle East, Donald Trump's tariffs and falling commercial property values had created a 'brew of uncertainty, investor hesitancy and a lack of stability', it said. The Treasury and Rem have both been contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
14-07-2025
- Business
- Telegraph
Shard flats left empty after Reeves's non-dom tax raid
Luxury flats at the top of The Shard have been left empty after Rachel Reeves's non-dom tax raid drove away wealthy buyers, the property's Qatari backers say. Real Estate Management (Rem), which is owned by the State of Qatar, said that it was 'very disappointed' with lack of progress made on letting out 10 luxury flats on the 72-storey skyscraper's upper levels, which are priced at between £30m and £50m each. Rem said Ms Reeves's tax changes for wealthy individuals was 'driving many such investors away' from Britain and hammering demand for ultra-expensive property. 'The long-heralded change in UK tax rules applied to overseas residents, which were accelerated by the current UK administration to apply from April 2025, [has] had the feared impact of driving many such investors away from the UK to escape double taxation of their worldwide income,' it said in accounts. 'This group of wealthy overseas investors has been the core constituency for super-prime lettings in the UK.' Ms Reeves abolished the non-dom status in April this year, while also bringing in sweeping inheritance tax changes. Those changes have been blamed for driving some of Britain's wealthiest people away from the country. The flats, on floors 53 to 65 of The Shard, were thought to have been priced between £30m and £50m after the skyscraper opened in 2012. They have been empty ever since, amid speculation that Qatar's royal family kept the flats for their own use while visiting London. Rem is an investment adviser tasked with letting out the flats. The properties are owned by another Qatar-backed entity, LBQ Four. The flats were made available for occupation in late 2023 after undergoing construction works, but despite 'every effort' to let them their availability coincided with a 'severe contraction' in the ultra-prime property market, Rem said. Rem's portfolio includes the Shard Quarter, The News Building and Park House on Oxford Street. It also owns The Shard's viewing gallery, which has reported 'difficult trading'. Qatari Diar, the property division of the state's sovereign wealth fund, bought 80pc of the skyscraper in 2008 after the project ran into financial difficulties. It later increased its stake to 95pc, with developer Sellar Property Group owning the remainder. The difficulties at The Shard capped off a difficult period for Rem, with pre-tax profit falling from £8.1m to £7.5m in the year ending December 2024. Rem also said it was struggling with recruiting and keeping skilled managerial and building staff, as well as the workforces of business partners contracted to undertake services across its property portfolio. Wars in Ukraine and the Middle East, Donald Trump's tariffs and falling commercial property values had created a 'brew of uncertainty, investor hesitancy and a lack of stability', it said.
Gulf Business
02-07-2025
- Business
- Gulf Business
Dubai: How DLD, DET's new initiative will help first-time homeowners
Image: Getty Images/ For illustrative purposes In a major move set to support the emirate's real estate sector and residents, the Dubai Land Department (DLD) and Dubai Department of Economy and Tourism ( The initiative offers first-time buyers priority access to new property launches, preferential pricing, and customised mortgage solutions, marking a significant step in making Dubai's property market more accessible. The programme aligns with key national and local frameworks, including the Dubai Economic Agenda (D33), the Dubai Real Estate Strategy 2033, and the UAE's Year of Community. Officials say the programme highlights the strength of public-private sector collaboration, with leading developers already on board. First-Time Home Buyer programme: Banks and Dubai developers Participating developers include Azizi Developments, Beyond Developments, Binghatti Holding, DAMAC Properties, Danube Properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl. These partners will support to first-time home buyers through priority access to units in new off-plan launches, and enhanced commercial terms, including preferential pricing on units up to Dhs5m. Participating banks include Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic and Mashreq bank will provide tailored mortgage products designed specifically for eligible buyers. The programme will continue to onboard new partners post the launch to increase the choice for first time home buyers. Created for all nationalities and income levels, the programme is open to applicants aged 18 and above who are residents of the UAE, and who do not currently own a freehold residential property in Dubai. Helal Saeed Almarri, director general of the Dubai Department of Economy and Tourism (DET), said: 'This initiative represents a powerful economic lever, stimulating long-term demand, driving liquidity into the real estate ecosystem, and accelerating the sector's contribution to GDP in line with the Dubai Economic Agenda, D33. 'By lowering entry barriers to homeownership for Emiratis and expatriates alike, we are enhancing investor confidence, increasing market absorption rates, and reinforcing Dubai's global positioning as a city where personal aspirations and business ambitions converge. 'In a global climate where housing accessibility is a structural challenge, Dubai is offering a model of sustainable urban development, one that supports talent retention, fosters community cohesion, and enhances the city's competitiveness as a place to live, work, and invest. Omar Bu Shehab, director general of Dubai Land Department (DLD), said: 'The First-Time Home Buyer programme embodies Dubai's strategic vision for a more inclusive, transparent, and accessible real estate market. By easing entry into homeownership, we empower individuals and families to invest in their futures while supporting the Dubai Real Estate Strategy 2033's broader objectives and Dubai Economic Agenda D33. This initiative is a key driver of market resilience and positions Dubai as a global benchmark for sustainable urban development.' Read:
