TheNews VALUES The age of the train


Following recent announcements for the £9.4 billion railway upgrades across England and Wales, property and land owners along the routes are being urged to consider how the proposals will affect them and what steps they should take.


Jonathan


Jonathan Perks


Perks of Fisher German in Banbury has worked extensively with landowners affected by similar projects such as HS2 and


Evergreen 3 and he warns that compulsory purchase may be enforced where re-opening and upgrading of lines leads to level


RESULTS


Rightmove announces 28% rise in profits


Rightmove’s first half figures show agents are spending more than ever on the portal. Rightmove has reported a 28 per cent rise in profits for the first six months ended 30th June 2012. With its 83 per cent market share, there wasn’t much room for growth in numbers of advertisers, which remains virtually unchanged since the start of the year at 18,299 (31 December 2011: 18,276), but the revenues have risen through increased take up of Rightmove’s additional advertising products, with 80 per cent of agents and new homes developers now taking out at least one extra advertising product. These products have helped


Rightmove increase revenues by 23 per cent to £57.9m (2011: £47.0m) with underlying operating profit up 28 per cent to £42.6m (2011: £33.4m). The strong performance has been supported by continuing growth on mobile platforms, including Rightmove’s suite of Apps (iPhone, iPad and Android) and optimised mobile website, which has


crossings being replaced by bridges – as already outlined in the plans for the Oxford to Bicester Evergreen 3 project. Compulsory purchase may


also be required for the raising of bridges for electrification and installation of overhead catenary masts where this is outside of existing railway ownership. There is also likely to be a


requirement for construction access from adjacent land. The key proposals, which


include an element of already announced improvements, are: Upgrading of the Oxford to Bedford railway, including a link to Aylesbury; Creation of an ‘Electric Spine’ from Southampton to The North; Electrification of the Bedford –


Nottingham, Derby – Sheffield and Kettering - Corby lines; Electrification of the London Paddington to Swansea main line; Creation of a new railway linking the Bristol – London Paddington line to Heathrow Airport; Electrification of Thames Valley lines; Electrification from Walsall to Rugeley; Electrification of Manchester to York; Electrification of Micklefield to Selby and electrification of the Welsh Valley line. Jonathan Perks said, “People who are living along


these routes should be sure to obtain professional advice as soon as possible if their land or property is likely to be affected so that they receive appropriate compensation.”


INTERNATIONAL Vive La Difference


It’s all change in Paris as the new regime settles in. In early July, the French


Government presented its revised 2012 French Finance Act Project to parliament. It contains several reforms


related to French Inheritance Tax and Social Charges which will have direct implications on Anglo French property investors and homeowners, according to Rosemont Consulting SARL. On the Capital Gains Tax


front, there is a proposed increase from 19 per cent to 34.5 per cent which would bring the charges in in-line with that paid by French residents. Capital Gains Tax is not


payable on primary residences but it is payable on holiday homes – the tax is levied on the profit made since purchase, minus the cost incurred on renovation and other relevant expenditures. The tax on rental income


will only affect those owners who let their properties out for commercial gain and not those who just use the property for their own enjoyment.


The changes have not yet


been of particular note in terms of rate of growth with the number of searches up 100 per cent year-on-year. Ed Williams, MD, comments, “By maintaining our investment in home hunting innovations, advertising and website performance, Rightmove is able to consistently connect its member advertisers with the UK’s largest online audience of home-movers. “Our high


Ed Williams


level of website traffic shows home movers


continue to choose Rightmove as one of their most popular UK online brands and underlines the fact that Britain Moves At Rightmove.” According to Experian


Hitwise, Rightmove is the 7th 6 l September 2012 l TheNegotiator


most-used website by the British public overall, with only Facebook, Google, eBay, YouTube, Amazon and Yahoo seeing more page views over the first half of 2012. Williams added, “We


continue to invest in new website features and mobile technologies to extend the reach of Rightmove member advertisers’ properties, brands and expertise, and enable advertisers to stand out in their local property market. “Ongoing enhancement of


Rightmove’s data and market intelligence services has allowed our reputation to go from strength to strength with agents, other property professionals, and our large audience of existing and potential landlords and vendors, choosing Rightmove to give them the best view of the market.”


been approved by the EU and concerns have been raised that that these two new laws breach European single market laws and anti- discrimination rules. Tim Swannie, Director of


Home Hunts, said, “France is widely regarded as a stable economy with a safe housing market, with house prices continuing to rise in prime. “Even though Capital Gains


Tax has increased, it still reduces over time and therefore for those who invest in France for the mid-term the rate will reduce on a sliding scale and in the long-term there will be no tax at all. “Compared to many of


the neighbouring countries, the fact that people have made a gain in such turbulent economic times is a huge plus.”


www.thenegotiator.co.uk


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