Tag Archives: latest
Latest RICS survey confirms UK price growth slowdown
UK house price growth, especially in London, is slowing after the historic vote to leave the European Union, according to the latest data from the Royal Institution of Chartered Surveyors. The monthly report from RICS posted the lowest survey reading in three years in July. Just 5% more respondents nationally saw a rise rather than fall in prices, down from 15% the previous month. This downward trend that is evident across the UK and the London price indicator remains more downbeat with net balance of -33% which is broadly consistent with an outright drop in prices in the capital but not quite as sharp as that reported in June. The report also says that as price growth slows for now, near term price expectations across the UK were negative for the third month in succession with 12% more respondents predicting a decline in house prices over the next three months. It is the longest stretch of negative readings since 2012. As activity falters, interest from new buyers in the UK also continues to wane, with the results showing a fourth consecutive month of falling demand to a net balance of -27. Notwithstanding the potential for near term weakness, respondents are slightly more optimistic about the 12 month outlook, upgrading their estimates for price growth relative to June. The latest data shows the net balance of those expecting prices to increase over the year ahead rising from zero to 23% but this still represents a significant softening compared to six months ago, when 66% more surveyors anticipated rising prices. For the second month running, the regional breakdown shows London and East Anglia are the only areas in which prices are expected to fall over the year ahead. Nonetheless, London exhibits amongst the strongest projections over the medium term three month average, with respondents pencilling in around 4% growth, per annum, over the next five years. On the same basis, prices are expected to rise by close to 3% nationally. The report also points out that the acute shortage of property for sale appears to be providing some underpinning for prices at present. Indeed, after staging a mild recovery through the early months of 2016, average stock levels on agents’ books have since started to fall again. In fact, the flow of new sales listings coming to the market has contracted at the fastest monthly pace on record in each of the last three reports. With supply at or around record lows in most parts of the UK, lack of choice may weigh further on activity going forward. New buyer enquiries declined markedly at the headline level during July, the fourth consecutive month of falling demand. This weakness was widespread, with virtually all areas of the UK experiencing a dip in demand during July. In keeping with the deteriorating demand backdrop, sales volumes declined sharply and at the national level, a net balance of 34% more respondents reported a fall in sales… Continue reading
The Treedom Group Showcases Latest Line Of ‘Dar al Oud’ Products At Dubai’s Global Village
Dr. Andrew Steel, Treedom Group’s Chief Executive Officer (CEO). Company’s participation at ME region’s largest seasonal theme park complements industry forecasts that UAE’s fragrance market to grow by AED1.13 billion in 2017 October 08, 2013: The Treedom Group a leading luxury aromatic oud oil manufacturer and supplier to the global fragrance and perfume market that produces high-grade oud oil focusing on having the competitive advantage of controlling a value chain from seedling to end products, is set to showcase its latest line of ‘Dar al Oud’ fragrances, the company’s prestigious premium brand of products that have been made from 100 per cent oud oil, at this year’s run of Dubai’s Global Village, the largest seasonal cultural shopping and entertainment theme park in the Middle East region. Participating for the first time, the company will also be throwing the spotlight on its unique range of Oud Oils, Oud Perfume, Oud Mist Body Spray, Oud Perfume Balm and Oud Soap Bar, at its stall, booth No. 122, which will be located at the Thailand Pavilion. Treedom’s participation complements recent industry forecasts showing that the UAE’s fragrance market is expected to reach AED 1.13 billion over the next five years. According to a recent report from Euromonitor International, a leading business research and intelligence firm, the country has demonstrated a continuing increase in consumption of fragrances. In fact, the report further predicts an increased per capita spending on fragrances–reaching AED 128 per capita spend in 2017, which is 90 per cent more of the expected per capita spend in the US over the same period. In line with the forecast, Chief Executive Officer of the Treedom Group is confident that the Middle East region in general and the UAE in particular, will offer the company strategic opportunities. Maintaining a key presence at a regional consumer fair like Global Village will allow the company to utilise Dubai as a gateway and merchandising hub to access various kinds of customers and distributers from all over the region. The company has also revealed plans to set up a regional office in Dubai in order to be able to keep up with the demands of the local market. “We are excited to be participating at this year’s edition of Dubai’s Global Village. Our presence will give us the strategic opportunity to leverage our latest ‘Dar al Oud’ products while at the same time meet new customers and discover what kind of scents they prefer,” Dr. Andrew Steel, CEO, the Treedom Group. “The UAE’s fragrance market is booming and vibrant, with analysts saying growth will be continuous over the next five years. One niche market that we are confident to capture is the demand for oud products–from oils to its unique scent. Our products, particularly the ‘Dar al Oud’ line, have been produced utilising 100 per cent extracts from the valuable Agarwood trees, which come from our sustainably managed plantations in Thailand combined with the latest distillation technology according to our strict quality standards.” Dubai’s Global Village is open from October 5, 2013 and will run until March 1, 2014. Park organizers have already announced an amazing array of festivals, concerts, exhibitions and other fun filled activities for this year’s edition of Global Village. -Ends- About The Treedom Group The Treedom Group is composed of both commercial and charity entities guided with the chief objective of being the number one deliverer of socially responsible and sustainable forestry related projects and products in Asia. The group offers expertise in forestry consultancy, plantation management, forestry product sales, forestry asset management and environmental welfare through forest restoration projects. The group is recognised as one of Southeast Asia’s leading plantation management companies The plantations are solely populated by the Agarwood tree which is the source of the luxury aromatic oil – Oud. Distributed by PR Communigate On behalf of the Treedom Group For more information, please contact: Sarunya Hansarikit PR Executive Sarunya.h@treedom.com www.treedom.com , www.daraloud.com © Press Release 2013 Continue reading
Agriculture Funds Ponder The 14 Billion Bushel Question
By: Jonathan Boyd 05 Aug 2013 Latest projections that the US will have its first ever 14 billion bushel harvest of corn in 2013 has helped drive prices on the Chicago Board of Trade exchange to their lowest since November 2010. The price fall comes as organisations such as the International Grains Council confirm that this year will see a sharp rebound in output of crops such as corn and wheat in the Northern Hemisphere, following a poor harvest in 2012. Globally, this recovery means that the world’s overall corn harvest should be high this year, ensuring a level of supply that is currently pushing down prices for forward delivery. One bushel of corn is 56lbs, or 25.4kg. According to the International Grains Council: – With record crops expected in the US, China, and Ukraine, world production is forecast to increase by 10% y/y in 2013/14 – As consumption is seen rising by 5% y/y, world stocks will be rebuilt in 2013/14, with inventories in the four main exporters forecast at a nine-year high – Global trade is forecast at a six-year high, with China a much larger buyer, but is unlikely to match the 2007/08 record as good crop prospects in some countries will cap overall import needs. Reviewing data from FE for products that invest in agriculture, some 281 funds are identified. Stripping out specialist products that invest in hogs, wheat, soybeans, sugar or other non-corn soft commodities, leaves some 219 funds. Reviewing these over a three-year period it is clear that corn has delivered some solid positive returns through products such as UBS CMCI Corn (up about 52%), ETFS Daily Leveraged Corn (50%), Source S&P GSCI Corn Total Return (43%), and ETFS Corn (40%). However, in the short term it is clear that the asset has lost pace: their respective 3-month returns are -15%, -33%, -17% and -17%. Leveraged corn has, in other words, done worst in the past few months, reflecting the downward price trend. Corn versus broader agriculture 1m 3m 6m 1yr 3yr 5yr 10yr UBS CMCI Corn USD in US -6.78 -15.47 -23.00 -28.35 52.60 ETFS Daily Leveraged Corn in EU -18.32 -33.46 -42.80 -58.87 45.90 -76.64 Source S&P GSCI Corn Total Return in US -8.71 -17.25 -23.87 -30.61 43.40 ETFS Corn USD in US -8.62 -17.09 -23.73 -30.35 40.14 -28.40 ETFS Leveraged Corn USD in US -17.20 -32.37 -46.86 -55.55 38.29 -74.93 Robeco SAM Sustainable Agribusiness Equities D EUR in EU 1.29 -1.29 2.36 8.10 28.31 CFS Wholesale Global Soft Commodity Share TR in AU 3.19 9.17 8.14 27.31 28.29 First State Global Agribusiness A GBP Acc in GB 0.75 -2.19 -2.69 10.18 28.25 KBI Inst Agri A EUR in EU -2.49 -8.63 -6.32 -1.70 28.17 34.11 Allianz Global Agricultural Trends AT USD in US 3.93 -0.75 -9.73 1.44 24.62 -3.29 Birla Sun Life Commodities Equities Global Agri Ret Gth in IN 0.23 2.41 -4.05 3.91 23.61 BlackRock Global Funds World Agriculture A2 USD in US 0.25 -1.32 -6.57 4.92 23.07 Skandia USD Allianz Global Agricultural Trends USD in US 2.48 -4.07 -11.39 -1.67 22.77 Source: FE Continue reading
