Retailers in 11 out of 14 cities around the UK should expect to see their average rateable values decrease in the 2017 business rates review, according to a leading real estate firm. Analysis from CBRE has indicated Aberdeen, Leeds, Cardiff and Bristol will all see their average values decrease by over 30 per cent. While this may be welcome news, as well as an incentive to buy in these cities with reduced occupancy costs, the rateable value decrease won’t be felt across the board, as some retailers are still likely to have an increase from April 1 next year. In Central London, rateable values could increase by a whopping 170 per cent. CBRE’s analysis comes shortly after the government established a consultation for the regulations that will underpin the business rates appeals process. The regulations state that the Valuation Tribunal will only order an alteration to the rateable value of a business if it considers it to be [...]

The local real estate market proved to be just as hot in August as the weather. The London and St. Thomas Association of Realtors (LSTAR) reports that 999 homes were sold last month, making it the best August on record. According to LSTAR, 804 detached homes and 195 condos were sold in August. The average sale price was $277,660, $200,000 less than the national average of $478,954. "This has been an absolutely outstanding year for real estate in our area," says Stacey Evoy, LSTAR President in a news release. "We've seen the best April ever, the best June ever and now the best August ever – all in 2016."