E.ON are quoted as saying that "Around 1.9 million residential gas customers will benefit from this gas price decrease of around £42 equivalent to 6%" Effectively what appears to be happening is that monthly direct debit customers are being offered a discount of £42 per annum. At this stage however E.ON have not provided any additional information to any broker and are unable to provide revised pricing schedules. E.ON have stated that these should be distributed to all parties within the next few days. Until we have these revised schedules we cannot comment on the direct benefit to the consumer other than to acknowledge the fact of their statement. E.ON FACTS • E.ON is one of the UK’s leading power and gas companies – generating and distributing electricity, and retailing power and gas – and is part of the E.ON group, one of the world's largest investor-owned power and gas companies; • E.ON has around 5.5 million customers in the UK; • E.ON previously reduced their energy prices by 9% for electricity on 31st March 2009 and by 3.3% for gas on 4th July 2009.

The Conservative Planning Green Paper was published earlier this week and RICS has been able to respond. RICS submitted a response to the draft paper in July 2009, and has met Bob Neill MP, Shadow Planning Minister to discuss this. RICS response: As a professional body established in the public interest, RICS welcomes in principle any steps towards greater involvement of communities in local development and in shaping their neighbourhoods. RICS fully supports the move towards improving and increasing sustainable development. We are concerned, however, that the policy framework, as set out currently in the Green Paper, merely places control into a different set of hands and will not produce any improvements in certainty, process and the prospects for attracting much needed investment into new development infrastructure. RICS does not believe that the stated policy aims, many of which we support, will be realised under these proposals for control shift. RICS is consulting with its members on the specific components of the Conservatives' Open Source Planning Green Paper and will respond in detail shortly. Our general views are: The overall principles of a well-functioning property market are a planning system which is evidence-based in measuring and planning for current and future local needs and which involves local people in shaping their emerging communities. RICS supports predictability and consistency, based on a long-term plan led system. This aids both investment and forward planning, and this is essential in delivering long-term infrastructure needed to support local communities. There are many ways to deliver national planning frameworks with varying levels of devolution. While the Green Paper devolves more power than currently exists to the local level, it is important that local authorities' delivery is monitored and benchmarked. It is essential that housing, infrastructure and services are delivered to meet real local needs. Historically, the planning system has been predominantly a three tier relationship between national, above local (e.g. County or regional) and local. If the regional tier is removed completely, RICS would wish to see that clear responsibility and leadership is defined for regional and sub regional infrastructure projects. The redesigned Local Development Frameworks are likely to result in substantially more work for local planning authorities. RICS would like to see specific details on how the resourcing for LPAs will be increased to meet this need. RICS generally welcomes the proposed transition to a single tariff based system which replaces s.106 and the Community Infrastructure Levy. Setting locally-appropriate tariffs will deliver transparency and predictability for the property market and will encourage development. RICS continues to raise the need for greater accountability as to how and when local infrastructure gets built with this source of funding.

Gross mortgage lending declined to an estimated £9.1 billion in January, a 32% fall from £13.4 billion in December and a 21% fall from £11.5 billion in January 2009, according to the Council of Mortgage Lenders. A decline is typically experienced between December and January. However, this is the lowest monthly total since February 2000 (£7.9 billion) and the lowest January total since 2000 (£7.4 billion). The larger than average drop between December and January this year confirms our view that house purchase activity was boosted in December by a number of borrowers trying to complete their purchase before the end of the year to take advantage of the stamp duty holiday. In today’s market commentary, CML economist Paul Samter commented: “We remain in a period of uncertainty for the housing market and economy at large. The market certainly improved over the second half of last year and started 2010 in better shape than most would have predicted twelve months ago. More recent developments have been influenced by the end of the stamp duty holiday, and are likely to foreshadow a larger than usual seasonal drop off in activity in the early part of this year. “However, the Bank of England is likely to keep rates low which should continue to mitigate mortgage payment problems and help cushion borrowers from the worst of the recession.” Notes to editors 1. The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 94% of all residential mortgage lending in the UK. There are 11 million mortgages in the UK, with loans worth over £1.2 trillion. 2. The February gross lending estimate will be published on 18 March 2010.

The RICS report into Transparency in professional fees raises the following points, which the National Association of Estate Agents (NAEA) and Association of Residential Letting Agents (ARLA) is in firm agreement with: - RICS calls for further regulation of letting and managing agents in the PRS which we have strongly supported. - RICS is also in favour of the Property Standards Board as an independent regulatory body. We support the overarching principle of self-regulation which could potentially include the Property Standards Board. - We agree with RICS in stating that the national landlord register doesn’t go far enough, and doesn’t offer enough consumer protection, whilst supporting the concept of industry regulation of landlords as part of a regulated property sector. In response to the report Peter Bolton King, CEO of the NAEA and ARLA says: "The property sector has shown its willingness to offer more consumer protection and ensure that our practices are transparent and open to scrutiny. The RICS report is correct then in setting out an agenda to challenge the wider perception that property transactions are carried out under a cloak of secrecy. “In the past year, ARLA has demonstrated this by launching its licensing scheme. The large numbers of letting agents who have signed up to this scheme and now abide by its strictures demonstrate, very clearly, this determination to offer consumer assurance. “We expect all NAEA & ARLA members to abide by a Code of Practice, which binds them to ensure that all fees and charges are made clear. In addition, we expect the Government's proposals for the regulation of lettings and management agents to further augment our work in this area. “In the near future, we will launch a similar scheme for NAEA estate agents. Our members already follow the strict guidelines we have set out in regards to clear communication with consumers, but the formality of the scheme will offer house buyers and sellers even greater assurance.”

Research published by the VAT coalition, The Cut argues that reducing VAT to 5% on the repair and maintenance of homes could lead to £17bn of benefits to the UK economy by 2019. RICS is a member of the coalition along with a range of other bodies including the Federation of Master Builders, RIBA and the National Trust. The coalition has been working together for two years to campaign for a reduction in VAT but this is the first piece of research that has examined the impact on the construction sector and income to the Treasury. Although the changes would result in an annual loss of revenue to the Treasury, there would be widespread benefits that would be particularly felt in the construction sector. Benefits would include: An additional £373m in construction output in 2010 which would lead to multiplier benefits of £1.06 bn The creation of up to 24,200 extra full time equivalent jobs in the construction sector alone Knock on effects of an additional 31,000 jobs in the wider economy to address demand for related materials, products and services and as a result of the greater spending power of construction industry workers. As well as the benefits to the economy the reduction in VAT rates would benefit the social housing sector and also help improve the energy efficiency of UK homes. For instance, the lower rate of VAT could release an extra 450 million per year from housing improvement budgets which could bring and additional 19,000 homes up to Decent Homes standards per year. The VAT treatment of energy efficiency and microgeneration is inconsistent with 4.5 billion of energy efficiency work attracting the full VAT rate with other less effective measures attracting a reduced rate. A flat rate of 5% on all energy efficiency measures would produce a more coherent treatment of energy efficiency and would encourage people to undertake this work. RICS will be continuing to work as part of the coalition to persuade the UK Government to implement a reduced rate of VAT for repair and maintenance work.

In response to the Office of Fair Trading (OFT) Home Buying and Selling Report, published today, chief executive of the National Association of Estate Agents (NAEA), Peter Bolton King said: “We are very happy that the OFT’s study has shown the very high levels of consumer satisfaction with estate agents. “However, once again the OFT has categorically failed to see that better regulation of the home buying and selling market is required. Buying a home is often the largest single transaction of a person’s life and it is disappointing that the OFT has not thought it appropriate to acknowledge that a robust and appropriate level of consumer protection is needed. “This is in stark contrast to the views of the Department for Communities and Local Government who are proceeding with the full regulation of lettings agents. This inconsistency is very difficult to understand given that the same agents and firms often deal with both sales and lettings. “The NAEA would like to see a greater level of regulation to ensure that professional, qualified estate agents are not confused with agents that, all too often, fail to meet the basic professional standards we would expect from our members. “The need for consumer protection in the form of a more professional industry is the driving force behind our plans to introducing a licensing scheme for our members later this year.”

With the original EDF Energy Annual Fix Version 2 tariff coming to an end at the end of March. EDF has today launched a new version of Annual Fix Version 2 where the rates are fixed to March 2011. The key features of the tariff are: Direct Debit Electricity – 6% Direct Debit Gas – 6% Dual Fuel - £8.40 (inc VAT) Fixed to 31st March 2011 Early redemption fees apply of £25 per fuel if customer's join and leave before 31st March 2011. Available to dual fuel and electric only (although electric only is only available direct through EDF Energy.)

In response to the latest repossession statistics from the Council of Mortgage Lenders, Peter Bolton-King, Chief Executive of the National Association of Estate Agents (NAEA) comments: “The Stamp Duty Holiday has been a source of respite for beleaguered buyers who have been trying to achieve something that should be available to as many people as possible – to own their own homes. These new figures confirm what our agents have been telling us - the buyers are out there but they just cannot get that first foot on the property ladder because of the amount of money required up front. “Stamp Duty remains a persistent and pernicious barrier to entry for many first time buyers. The sums of capital demanded by the banks and the Government are simply too daunting to overcome. Making Britain’s most unpopular tax fairer and more manageable should be a primary goal for the Government both now and after the General Election. "The evidence from the U.S – Obama’s tax incentives for FTBs – and now the UK data is irrefutable. I hope the industry can now move forward to working with policy makers to create a more manageable solution that benefits buyers and helps to restore confidence to the residential property market.”

BRITAIN’S house hunters braved freezing weather and blizzard conditions to bag themselves a bargain in January, according to estate agents.

The National Association of Estate Agent’s market report for January suggests that despite some of the worst weather on record the number of houses sold by the average agent increased month on month.

The average agent sold six properties in January compared to five in December. The number of people registering with estate agents to buy property also increased, from 251 in December to 291 in January.

This also shows a 12-month improvement – the number of registered house hunters per agent in January 2009 was 242. In contrast the number of houses available for sale fell from 59 per branch in December to 55 per branch in January.

The percentage of sales made to first time buyers also increased from 19 per cent in December 2009 to 23 per cent last month.

President of the NAEA, Gary Smith, said: “Our figures suggest that concerns expressed about the prospects for the market in 2010 may prove unfounded.

“This appears to be confirmed by the increased level of sales, which given the awful weather conditions is quite amazing. The dwindling housing stock on our members’ books reflected the increase in sales month on month, but this is a worrying trend that if continued will result in further upward pressure on prices.

“More encouragingly, the very important first time buyer section of the market now makes up almost one in four purchases. This confirms their confidence in the market as well as their ability to obtain attractive mortgage deals.”

According to RICS January housing market survey.