Senin, 08 November 2010

Tempat Wisata (Tugas Soft Skill Kepariwisataan) Labuan Bajo

Labuan Bajo – Place of Interest
Labuan Bajo Mainland
Batu Cermin Cave:
Batu Cermin is the Indonesian name for Mirror Rock. Shown is the limestone Mirror Rock that gives this outcrop its name. Depending on the time of year, between 9 a.m. and 10 a.m., the sun shines into the canyon and reflects off the walls creating a spectacular visual effect.
The main cave is located at the centre of Batu Cermin. A ladder walkway connects the central area where the main cave is located. The walkway leads through a series of chambers before opening into the main narrow canyon of “Mirror Rock.’’

Observe bats and spiders in the caves. While the bats are found in abundance, you have to be very lucky to see the local spiders who, when approached, quickly scamper out of sight.

Sano Ngoang Deepest Lake in the World
General information:
Located approximately 35 km east of Labuan Bajo
Thought to be one of the deepest volcanic crater lakes in the world, with recorded depths of 500 meter. Its waters are sulfuric and fed by numerous hot springs.
Surroundings:
Rural. Agricultural society.
Traditional villages, rich in local culture.

Activities:
No local guides operate from Sano Nggoang. Guide services should be organized before your departure from Labuan Bajo. Remarkably simple and untouched by modern life, the lake area offers the following experiences for eco tourism visitors:
* Hiking and trekking.
* Swimming.
* Therapeutic soaks in local hot springs.
* Bike tours (if you bring your own bike or rent one in Labuan Bajo).
*Local horse excursions along the shoreline.
*Nature tours:
- Bird watching.
- Flora and Fauna explorations.
* Agricultural insights:
- Traditional cultivation and irrigation systems
- Care and propagation of domesticated animals.
- Cultivation of cash crops in combination with traditional crops.
* Culture
- Local handcrafts
- Village traditions, dances and local traditional ceremonies.

How to get there:
Located approximately 35 km east of Labuan Bajo, in the direction of Ruteng
Best accessed by car or on a rented motorcycle
By local Ojek transport (motorcycle taxi) or Bemo (local public buses).
The recommended means of visiting the lake is in the company of a local driver and guide.

Directions:
Follow the main road from Labuan Bajo to Ruteng. After approximately 35 km, turn right at the road crossing in the direction of Werang. The distance from the intersection to Werang is approximately 10.5 km and it is a further 16.5 km from Werang to the actual lake shore. Please note that the road condition is poor beginning from the main road’s intersection and can be difficult to pass during the rainy season.

If you’re traveling by local transport, it is recommended that you disembark at Werang and take an Ojek (motorbike taxi) for the remainder of the distance to the lake. Please note that local buses do not operate to any fixed schedule.
Those seeking exercise should hike the 16.5 km from Werang to the lake. This is a picturesque trek taking about five hours from Werang to the village of Nunang at the lake, with the path passing small local communities along the way.

Cunca Rami Waterfall
General information:
Located approximately 35 km east of Labuan Bajo
A large waterfall offering a refreshing natural swimming reservoir.
A scenic 1.5 hour nature walk is required to reach the waterfall.

Local surroundings:
o Rural setting with agriculture plantations producing a wide range of crops.
o Traditional agriculture practice and unique architectural features used in local home construction.

Getting there can truly be half the fun! The walk to the waterfall transitions from settled areas to less-populated agricultural environs. On the way you, with the help of your local guide, you can converse with local farmers for directions or obtain insights on daily life in West Flores’ hinterlands.

Domesticated water buffalos, pigs and goats will be seen along the path. Rice fields, providing the opportunity to see rice cultivation at various stages of its growth cycle, are found along the scenic trek to the waterfall. Be sure to keep an eye out for the vanilla, avocado, bananas and cacao plantations located along the trail leading to the waterfall. A local guide will help identify the many plants, fruits and other plants that populate the walk through this Eden-like setting.

When fording the river leading to the waterfall you’ll pass by a popular swimming pool for local children. The river is fairly wide with water volumes that vary, depending on season.

Offshore Labuan Bajo( Indonesia Best Snorkeling )

Bidadari Island:
General Information:
* Excellent white sandy beach.
* Calm water, good swimming.
* Nice coral reef, good for snorkeling.
* Calm conditions make this an ideal spot for learning or beginning divers.
* Exclusive eco-friendly bungalows now being built on the island.
* Rock and coral protection undertake by an international company (Reefseekers).
How to get there:
* Distance readily from Labuan Bajo to Bidadari Island is 6 km. Local tour operators and boats readily available for the short 15-20 minute boat trip.
* Located north west of Labuan Bajo
* Local excursion boats

Seraya Island
Island Information:
* Excellent beach, calm water, outstanding swimming and snorkeling.
* Basic bungalow accommodation available.
* Beach restaurant serving local food and drinks.
* A small fishermen village is located on the southern tip of the island (see map) provides a chance to view the bagan style of traditional fishing from bamboo structures erected over the open sea.

How to get there:
* Distance from Labuan Bajo to Seraya Island is 10 km.
* Only 50 minutes by .local boat from Labuan Bajo
* Please note that for Seraya Hotel guests the boat transfer is not normally included in the accommodation package. Please check on sea transport arrangements when booking.
* Charter boats;

Kanawa Island
Island Information:
* Excellent beaches, calm water, good swimming and snorkeling.
* Basic bungalows available for overnight stay.
* Restaurant serving local food and drink.
* Excellent snorkeling opportunities near the Jetty and to the right of the Jetty area. Refer to map for snorkeling spots.

How to get there:
* Distance Labuan Bajo to Kanawa Island is 15 km..
* Traveling time about 2 hours by local excursion boat from Labuan Bajo.
* Local excursion by boats

Facilities on Seraya Island:
* Basic Bungalows set in a tropical island surrounding.
* Restaurant with local food and drinking water.
* Trails to lookout points (highest point is 97 m above sea level).

Source :
www.komodoflores.com

Kamis, 07 Oktober 2010

Tempat Wisata (Tugas Soft Skill Kepariwisataan)

Tempat Wisata di Lombok

NTB atau Bumi Gora merupakan provinsi yang memiliki dua pulau yaitu Sumbawa dan Lombok. Menurut sebagian orang yang pernah berwisata ke NTB, Lombok jauh dianggap lebih indah, eksotik dan menawarkan lebih banyak pilihan dibandingkan Sumbawa. Terutama dengan keindahan kawasan pantainya yang sudah dikenal hingga ke belahan Benua Eropa.

Pesona Lombok memang tak ada habisnya. Beragam tempat wisata dan atraksi budayanya yang dapat dinikmati. Wisatawan tinggal pilih, mau berwisata sejarah, berwisata pantai atau pun berwisata belanja.

Provinsi Nusa Tenggara Barat (NTB) selain daerah agraris juga dikenal dengan kepariwisataannya. Bahkan pemerintah daerah setempat pada tahun ini menargetkan peningkatan kunjungan wisatawan mancanegara dan nusantara, minimal 13 persen dibandingkan tahun lalu.

Pulau Lombok memiliki magnet tersendiri bagi para pelancong yang ingn menikmati nuansa wisata yang berbeda. Terutama gili-gili (pulau kecil) yang menjadi primadona bagi pecinta wisata bahari.

Lombok dengan luas sekitar 4.700 Km2 dihuni 2.625 jiwa yang mayoritas Suku Sasak. Alam dan budayanya menawarkan tempat-tempat wisata, yang bisa masuk daftar kunjungan wisatawan domestik dan mancanegara sekalipun.

Lombok dikenal memiliki kekayaan wisata pantai, sebut saja Senggigi yang sudah tersohor luas. Letaknya strategis hanya butuh perjalanan 15 menit dari kota Mataram dengan menggunakan kendaraan mobil. Kawasan pantai Senggigi sejak tahun 1980 sudah diperkenalkan kepariwisataannya, dan menjadi ikon pariwisata di NTB. Saat ini, puluhan hotel mulai dari kelas bintang 3 sampai 5 memadati kawasan ini dari selatan hingga utara.
Pantai Senggigi

Banyak wisatawan lebih memilih menghabiskan waktu sore hari dengan duduk di pantai berpasir putih sambil menikmati indahnya mentari tenggelam (sunset). Kalau Bali memiliki Pantai Kuta, Sanur, Legian, maka Lombok punya Pantai Senggigi yang asri dan nyaman. Kendati didapati hotel dan galeri, wisatawan masih bisa melihat nelayan dengan kapal cadiknya yang hendak melaut mencari ikan setiap hari.

Pantai Senggigi, yang terletak di sebelah utara Bangsal, merupakan pantai yang paling populer dan sudah terkenal akan keindahannya. Pantai yang terletak 12 kilometer dari sebelah barat laut Mataram, Nusa Tenggara Barat (NTB), Lombok ini, terbentang hampir sepanjang 10 km dengan hamparan pasir putih yang seolah menggoda Anda untuk duduk diatasnya dan untuk sejenak melupakan segala rutinitas hidup Anda, kepadatan lalu lintas kota, dan menghirup udara segar dengan menikmati pemandangan air laut yang berwarna biru gradasi hijau serta menikmati indahnya matahari terbenam di pantai Senggigi.

Umumnya wisatawan krtika berada di Senggigi menyempatkan diri untuk mengunjungi Pura Batu Bolong, 3 Km dari sentral keramaian Senggigi.

Batu Bolong merupakan pura bagian yang dimiliki umat Hindu di Lombok dan sudah cukup lama dibuka bagi wisatawan.
Selain menjadi pusat home stay wisatawan mancanegara dan nusantara, pantainya masih ali dan bisa dijadikan tempat rekreasi yang menyenangkan. Untuk itu, Pemda Kabupaten Lombok Barat setiap pertengahan tahunnya menjadwalkan penyelengaraan Festival Senggigi. Tidak jarang kekayaan atraksi budaya yang dipentaskan selama sepekan bisa membuat wisatawan ingin menikmatinya.

Selain keindahan alam pesisirnya. Pantai Senggigi juga menawarkan ciri khas lain dari Lombok melalui berbagai cendera matanya. Tepatnya di Jalan Raya Senggigi Km 7 terdapat pusat perbelanjaan berbagal cendera mata Lombok di Pasar Seni Senggigi (Art Market Senggigi).

Ikhwal awal didirikannya Pasar Seni Senggigi karena letaknya yang berdekatan dengan kawasan Pantai Senggigi. Karena itu Pemprov NTB berharap kedepannya tempat ini menjadi surga belanja bagi para wisatawan yang berwisata di Lombok.

Tempat Menginap
Di sekitar Pantai Senggigi banyak terdapat penginapan yang bisa dijadikan pilihan sesuai dengan kebutuhan Anda. Mulai dari hotel berbintang, resor, hotel melati hingga pemondokan. Beberapa tempat menginap yang dapat dijadikan alternative adalah Holiday Inn, the Oberoi, Sheraton Senggigi, Melati Dua Cottage, Pool Villa Club, Panorama Cottage, dan lain-lain.

Tempat Bersantap
Di sepanjang pinggir pantai, berjejer restoran-restoran yang menyediakan berbagai jenis hidangan khas Lombok dan jenis hidangan lainnya. Selama berada di Lombok, jangan lupa untuk mencicipi Ayam Taliwang dan Plecing Kangkung.

Berkeliling
Jika Anda ingin mengelilingi pantai Senggigi namun tidak ingin cepat lelah, Anda bisa menaiki cidomo ” angkutan khas NTB yang ditarik oleh seekor kuda. Atau Anda juga dapat mengelilingi pantai dengan berjalan kaki.

Buah Tangan
Di sepanjang jalur pantai Senggigi, banyak terdapat toko cinderamata yang menawarkan barang-barang kerajinan khas Lombok seperti lukisan, kerajinan tangan, kain tenun Lombok, perhiasan mutiara dan lain-lain.
Batu Bolong

Batu Bolong merupakan sebuah tempat wisata dekat pantai. Di sana terdapat sebuah batu yang berlubang cukup besar di bagian tengahnya. Di sini terdapat juga sebuah pura yang berdiri di atas batu karang. Pura ini berhadapan dengan selat Lombok dan Gunung Agung Bali. Upacara-upacara keagamaan diselenggarakan oleh masyarakat yang beragama Hindu dan dari tempat ini pengunjung dapat menikmati matahari terbenam.
Gili Trawangan

Gili Trawangan adalah yang terbesar dari ketiga pulau atau gili (Kepulauan Gili) yang terdapat di sebelah barat laut Lombok. Trawangan juga satu-satunya gili yang ketinggiannya di atas permukaan laut cukup signifikan. Dengan panjang 3 km dan lebar 2 km, Trawangan berpopulasi sekitar 800 jiwa. Diantara ketiga gili tersebut, Trawangan memiliki fasilitas untuk wisatawan yang paling beragam; kedai Tîr na Nôg mengklaim bahwa Trawangan adalah pulau terkecil di dunia yang ada bar Irlandia-nya. Bagian paling padat penduduk adalah sebelah timur pulau ini.

Trawangan punya nuansa “pesta” lebih daripada Gili Meno dan Gili Air, karena banyaknya pesta sepanjang malam yang setiap malamnya dirotasi acaranya oleh beberapa tempat keramaian. Aktivitas yang populer dilakukan para wisatawan di Trawangan adalah scuba diving (dengan sertifikasi PADI), snorkeling (di pantai sebelah timur laut), bermain kayak, dan berselancar. Ada juga beberapa tempat dimana para wisatawan bisa belajar berkuda mengelilingi pulau.

Di Gili Trawangan (begitu juga di dua gili yang lain), tidak terdapat kendaraan bermotor. Sarana transportasi yang lazim adalah sepeda (disewakan oleh masyarakat setempat untuk para wisatawan) dan cidomo, kereta kuda sederhana yang umum dijumpai di Lombok. Untuk bepergian ke- dan dari ketiga gili itu, penduduk biasanya menggunakan kapal bermotor dan speedboat.
Gili Meno

Gili Meno adalah salah satu dari 3 pulau kecil yang berada dikawasan wisata.Letaknya diantara gili trawangan dan gili air.Dari mataram sekitar 45 menit perjalanan menempuh kawasan wisata senggigi yang berlatarkan pemandangan pantai yang menakjubkan atau pun melalui kawasan wisata hutan monyet pusuk dengan ditemani hutan lindung yang lebat.Disini terdapat taman burung yang mempunyai koleksi burung-burung langka dari indonesia dan mancanegara.Pasirnya putih dan masih alami sangat cocok untuk dijadikan tempat berlibur keluarga.
Gili Air

Pulau Gili Air adalah pulau yg terdekat dengan daratan pulau Lombok, Pulau ini juga memiliki pantai yg sangat putih dan hamparan terumbu karangnya.

Diantara ketiga pulau pulau di bagian utara pulau Lombok, Gili Air lah yg memiliki kampung terbesar. Di pulau ini juga terdapat berbagai macam aneka hotel dari bintang hingga kelas melati juga restoran yg menyediakan berbagai macam makanan mulai dari makanan khas Lombok hingga makanan Eropa.
Taman Suranadi

Taman Suranadi merupakan salah satu pura suci di Pulau Lombok. Ada beberapa mata air serta ikan tuna yang hidup di kolam yang dianggap suci dan tidak boleh ditangkap. Di samping itu Suranadi merupakan hutan wisata, udaranya sejuk dan dihuni berbagai jenis burung yang dapat menjadi objek pengamatan. Taman Suranadi terletak 13 km sebelah timur Kota Mataram.

Kehidupan tradisional masyarakat Lombok dengan mengunjungi Desa Karang Bayan desa asli suku Sasak dan Desa Nyiur Baya yang merupakan desanya para pembuat kerajinan tangan. Serta melewati perkampungan para petani dan persawahan kita menuju Suranadi menikmati kehijauan dan rimbunya hutan lindung yang ada disini atau jelajahi keindahan hutan ini dengan mngendarai gajah.
Sesaot

Sekitar 5 Km di utara Suranadi terdapat Sesaot , merupakan kota pasar yang berada di tepi hutan. Di tempat ini terdapat sebuah lokasi wisata di mana pengunjung dapat berenang di sungai yang berada di dekatnya. Sungai ini dianggap sebagai salah satu sungai suci di Lombok karena airnya yang dingin berasal dari Gunung Rinjani yang dipercaya sebagai tempat bermukimnya para dewa. Untuk mencapai tempat ini pengunjung dapat menumpang angkutan umum dari Narmada.
Gunung Rinjani

Gunung yang berlokasi di Pulau Lombok, Nusa Tenggera Barat. Gunung yang merupakan gunung berapi kedua tertinggi di Indonesia dengan ketinggian 3.726 m dpl serta terletak pada lintang 8º25′ LS dan 116º28′ BT ini merupakan gunung favorit bagi pendaki Indonesia karena keindahan pemandangannya. Gunung ini merupakan bagian dari Taman Nasional Gunung Rinjani yang memiliki luas sekitar 41.330 ha dan ini akan diusulkan penambahannya sehingga menjadi 76.000 ha ke arah barat dan timur.

Secara administratif gunung ini berada dibawah tiga kabupaten yaitu: Lombok Timur , Lombok Tengah dan Lombok Barat. Di sebelah barat kerucut Rinjani terdapat Kaldera dengan luas sekitar 3.500 m × 4.800 m, memanjang kearah timur anda barat. Di kaldera ini terdapat Segara Anak (segara= laut, danau) seluas 11.000.000 m persegi dengan kedalaman 230 m.

Air yang mengalir dari danau ini membentuk air terjun yang sangat indah, mengalir melewati jurang yang curam. Di Segara Anak banyak terdapat ikan mas dan mujair sehingga sering digunakan untuk memancing. Dengan warna airnya yang membiru, danau ini bagaikan anak lautan, karena itulah disebut “Segara Anak”. Bagian selatan danau ini disebut dengan Segara Endut. Di sisi timur kaldera terdapat Gunung Baru (Gunung Baru Jari) yang memiliki kawah berukuran 170m×200 m dengan ketinggian 2.296 – 2376 m dpl. Gunung kecil ini terakhir meletus pada tahun 2004.
Danau Segara Anak

Danau Segara Anak dapat ditempuh melalui dua jalur, dari Senaru Lombok Barat dan Sembalun Lombok Timur. Jalan mendaki dapat diawali dari Pesugulan 78 km dari Mataram. Di sini juga terdapat tempat-tempat indah untuk berkemah terutama di tepi danau Segara Anak.
Sendang Gile

Sendang Gile ini terletak kurang lebih 80 km dari Mataram, merupakan tempat perhentian sebelum mendaki gunung Rinjani. Di kawasan ini terdapat air terjun yang sangat indah dengan pemandangan yang alami serta air yang dingin. Tak jauh dari tempat ini terdapat juga air terjun Tiu Pepe yang sangat indah dan di tempat ini bisa berendam dan berenang.
Tetebatu

Tetebatu yang terletak di kaki selatan Gunung Rinjani ini adalah tempat yang indah dengan suasana alam pegunungan yang sangat menyenangkan. Wisatawan yang ingin mengunjungi wilayah Lombok Tengah dapat menjadikan Tetebatu sebagai basis atau pangkalan sebelum melanjutkan perjalanan mengeksplorasi wilayah Lombok Tengah.

Dari Tetebatu wisatawan dapat menyewa kendaraan (motor/mobil) untuk mengelilingi wilayah di sekitarnya. Panorama di kawasan Tetebatu sangat indah; dari tempat ini terbentang pemandangan ke arah selatan Pulau Lombok, panorama Gunung Rinjani di utara dan pemandangan laut ke arah timur. Tetebatu merupakan tempat yang sempurna untuk beristirahat bagi mereka yang menyukai suasana alam pegunungan.

Kawasan Tetebatu juga menjadi titik awal untuk memulai kegiatan hiking mengunjungi dua air terjun yaitu Air Terjun Jukut yang terletak di timur laut dan Air Terjun Joben yang terletak di barat laut Tetebatu. Kedua air terjun ini berada di lereng selatan Gunung Rinjani. Tidak ada angkutan umum yang tersedia untuk mengunjungi kedua lokasi ini sehingga pengunjung harus membawa kendaraan sendiri atau berjalan kaki selama satu setengah jam dari Tetebatu.

Berada di bagian Timur Lombok, menghamparkan pemandangan alam yang begitu indah, dan pada Tour ini kita akan mengunjungi Desa Sukarara, sebuah desa yang menjadi pusat KerajinanTenun kain dan Double Ikat asli suku Sasak, dan mengunjungi Desa Beleka, desa yag terkenal dengan kerajinan anyaman Rotan dan Ketaq (sejenis ilalang sekelas rotan) serta tak lupa singgah di Desa loyok yang terkenal dengan kerajinan bambu khususnya berbentuk bakul dan keranjang.

Dan ahirnya kita akan langsung menuju Tete Batu yang berada dilereng Gunung Rinjani yang akan mempesona kita dengan pemandangan pegununganya.

Dan sebagai ahir kunjungan kita adalah Otak Kokok, sebuah Air terjun, yang oleh orang setempat dipercayai memiliki kekuatan therapis yang mampu menyembuhkan berbagai macam penyakit.
Pantai Kuta

Tempat wisata di Pulau Lombok Nusa Tenggara Barat. Pantai dengan pasir berwarna putih ini terletak sebuah desa bernama Desa Kuta. Desa Kuta mulai menjadi tempat tujuan wisata yang menarik di Indonesia sejak didirikannya banyak hotel-hotel baru. Selain keindahan alam yang dapat dinikmati di desa ini, satu kali dalam setahun diadakan upacara adapt sasak di desa ini. Ini adalah upacara Bau Nyale Dalam upacara ini para pelaut mencari cacing Nyale di laut.

Menurut legenda, dahulu ada seorang putri, bernama Putri Mandalika, yang sangat cantik, banyak pangeran dan pemuda yang ingin menikah dengannya. Karena ia tidak dapat mengambil keputusan, maka ia terjun ke air laut. Ia berjanji sebelumnya bahwa ia akan datang kembali satu kali dalam setahun. Rambutnya yang panjang kemudian menjadi cacing Nyale tersebut.

(berugak.com)

Kamis, 15 April 2010

Regulation in the UK

The UK business environment is consistently recognised as being amongst the best in the world.
The Government attaches particular importance to better regulation and is committed to reducing the burden of regulation on business by 25% by 2010.
The Department for Business Enterprise & Regulatory Reform (BERR), through the Better Regulation Executive, leads on better regulation across Government. Reviews and evaluation of legislation are of key importance to the Department in developing policy and legislation.
UK Trade & Investment’s role is a proactive one of facilitating overseas investment in the UK and enabling domestic business to expand confidently overseas. As the UK Government’s international business development organisation, we help companies internationalise. Our services bring together a network of business sector specialists and support teams in British Embassies and posts all around the world.

www.ukinv.com

UK economy

The UK’s diverse economy is the ideal location for companies to realise their international business potential.
The fifth largest economy in the world, the UK has a gross domestic product (GDP) of US$2,345 billion (Source: World Bank, 2007) and is forecast to have the strongest business environment of all major European economies for the period 2007 to 2011 (Source: EIU, 2007).
With a population of 60.6 million (Source: ONS, 2007) and unemployment well below the EU average, the UK has a strong workforce to support the economy.
It is a leading global trading nation, as the second largest exporter and third largest importer of commercial services, and the seventh largest exporter and fourth largest importer of merchandise
(Source: World Trade Organization, 2007).

Analytical Summary of UK Economic Context

As a result of the collapse of financial systems globally it is now very difficult for first time buyers to obtain mortgages, and many who are already on the property ladder have been pushed into negative equity. A sharp decrease in the demand for home ownership in the UK, as a result of a number of factors including the inability for many to arrange credit agreements, has pushed market values down significantly. This sharp decline in market values has seen many homeowners plunge into negative equity meaning that they are unable to sell their homes without first finding the capital to cover the shortfall in their mortgage debts. Increases in the cost of living, particularly price increases in essentials such as food and utility bills, have contributed to many homeowners being able unable to keep up repayments on their mortgages; this inflation has significantly reduced the amount of disposable income that households within the UK have, meaning that less money is spent on other goods and services in the economy and unemployment rises. Subsequently financial institutions are taking measures to repossess homes to recover some of their losses and selling them on at auction for prices far below market value, an action which only serves to further decrease the market values and plunge even more people into negative equity.
Massive devaluation of the Pound against other major currencies has seen imports rise in price, including food. Seventy percent of imported food is from Europe and therefore the fall in the exchange rate with the Euro means that the price that the public pay for this food has increased accordingly. In an attempt to combat the recession the Bank Of England has cut the interest rate to 2%, to encourage spending within the economy, a move that will hopefully minimise further rises in unemployment and see a rise in disposable income levels. A consolidation of the current unemployment rate, along with a decrease in the interest repayments of many buyers, would assist with slowing down the rate of repossessions and encourage some new buyers onto the market; and as a result slow down the declining market values. The slow down of the property market has seen developers’ profits fall significantly and they are switching to shared ownership or rental markets. With some experts predicting further falls in the value of property in 2009, building for the private housing market is likely to become even less profitable.

www.hubpages.com

Government Intervention and Policy

Recently the government has taken steps to try and boost the financial markets and the economy, which will hopefully have some direct effect on the property sector. A 'bail out' of the banking system, and the cut in interest rates from 4.5% to 3% and then even further to 2% will hopefully see more money available to lend to investors, it is however essential that this cut in interest rates is passed on to borrowers. The cut in the interest rate will hopefully see a fall in the number of repossessions by making mortgage repayments for many homeowners cheaper. This cut will automatically be passed on to those with tracker mortgages; however it is at the discretion of the banks whether or not they choose to pass this on to other customers, currently 51% of mortgages are on fixed rate terms. It has been suggested by media that many businesses are urging the government to cut interest rates even further in order to encourage spending.
Asides from the interest rate cuts, Gordon Brown has also hinted at possible tax cuts and recently cut the rate of VAT to 15%. Any cuts in tax’s means people having more money to spend, increasing the amount of disposable income and hopefully encouraging spending, this would also help in some way to cut repossessions and thus possibly stimulate the housing market. The NAEA has asked the government to use the pre-budget report to remove stamp duty and help thousands of young people currently priced out of the housing market. It is claimed that the raising of the stamp duty threshold to 175k has helped certain parts of the country, particularly the North, with the lowest house price falls being in the North East (0.7%) and Yorkshire and Humber (1.1%). This could suggest that the change in the threshold could have had more impact in places where property values are lower, with few properties in much of the south costing less than £175,000. There is also great potential for political change with there having to be a general election before 3rd June 2010. Although it is too early to try and speculate on the outcome, all three of the main parties have different ideas about how they would try and overcome the recession. One particular manifesto proposal is from the conservatives who would like to cut the amount that companies have to pay in National Insurance which they believe would create 350,000 jobs.

www.ukinv.com

Effect on the UK Property Market

As a result of the inability of many borrowers to repay mortgages, massive increases in repossessions have been recorded with more than 45,000 repossessions expected by the end of this year, this equates to 6% of house sales. It has been suggested by many economists that the number of repossessions in 2009 will exceed 100,000, which is more than the record of 75,000 in 1991 during the last recession of the UK economy. According to the Council of Mortgage Lenders about 168,000 borrowers are said to be at least three months in arrears on their home loans. It could be argued that repossessions of homes only serves to further decrease the value of houses, as most of these properties will then be auctioned off at prices much lower than the ‘market value’, which in turn could help to drive down the market values.
A number of factors have contributed to the inability to repay mortgages, which has driven down prices. Inflation has increased to 5.2%, the highest rate for 16 years, meaning that the goods and services within this country have become more expensive. According to research the British have seen their disposable income levels fall by nearly 30% in the past two years, with the average household now having just 25% of their salary left after paying all essential outgoings including their mortgage and utility bills. Vocalink warns that people's incomes are being squeezed by a combination of rising living costs and falling take home pay.
The result of the unwillingness of financial institutions to lend money can be seen in the mortgage market, with mortgage approvals having slumped by 74% in the year to 1st December 2008, with just 32,000 mortgages approved in November. This contrasts with 115,000 in July 2007 and 88,000 in October 2007, it seems apparent that the ‘credit crunch’ had already begun to take effect. This appears to show that banks are increasingly less willing to lend money and that institutions are not willing to change their lending policies just yet. The value of mortgages loaned nationwide in the UK during October stood at just £458m, which equates to just 6% of the same month in 2007.
Property prices in the UK have fallen each month since autumn 2007, due to the decline in the availability of credit for those without a large deposit and high earnings. This has eradicated the first time buyer market, the majority of who are forced into the private rentals market. Surveys by Halifax and Nationwide suggest that house prices have fallen between 15-20% this year alone. Many industry experts are predicting further falls in house, including Jonathan Davis a chartered Financial Planner at Armstrong Davis who said "Next year prices will fall by 15-20% because unemployment is kicking in, house repossessions will rise rapidly and houses will go through auctions at silly prices - the banks aren’t lending." The IPD annual property index returns for 2007 for all property showed a capital growth of -7.7% and negative total return of -3.4%. Halifax announced on 2nd January 2009 that they believe property prices fell by 16.2% over the course of 2008 according to the their own dedicated Halifax house price index, after they previously speculated on a final a annual figure of around 15%.
The drastic falls in demand for housing have naturally seen negative effects on the development industries. Bovis, as an example, reported that profits were down to £11.7m in the first half of 2008 from £58.4m in the first half of 2007. This fall in profits was due to housing revenue being down by 40% as a result of the fall in demand for property. However completions of social and partnership homes grew by 38% in this period. This is a familiar pattern across the residential sector with Kier redesign ting land for social housing as a result of a 60% slump in its order book; it announced that it had made the decision as social housing is standing up better than private homes and that the homes would be a mix of rental and shared ownership. Another organisation, Bellway, announced in November that it was the first developer to be given funding towards affordable housing and then retain ownership of the development. Normally grant funding is given directly to housing associations.

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