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Time is money and hence, another skill to provide Enact Conveyancing Sydney. Cincinnati, Columbus and Indianapolis all have populations in the range of 1.5 to 2 million, while Louisville has just over 1 million residents. We have already established a dialogue with the Office of the Deputy Prime Minister and our sector remains ready and willing to be formally represented on the new structures being created, such as the proposed UDCs. We welcome the additional funding being earmarked for improving the performance of planning authorities. The first objective should be to get all authorities doing their jobs effectively.



In mid-2000, the U.S. manufacturing sector entered a cyclical downturn from which it has yet to fully emerge, and in 2001 the rest of the economy followed the manufacturing sector into recession. To build landlords' support for its objectives it is important that the Government offers carrots as well as sticks, and its support for accreditation is welcome in that respect. We would like to see even more emphasis on other incentives that could help raise standards, such as tax relief and training. Perhaps the most important aspect of the Government's legislative proposals will be how it defines an HMO. Indianapolis and Cincinnati have industrial inventories in excess of 200 million square feet, while Louisville and Columbus have around 100 million square feet of industrial space.

The Deputy Prime Minister has made some constructive proposals for improving the private rented sector in his announcement today. We would now like to see these built upon, so that the Government has a cross-departmental strategy for encouraging investment in the sector and an overall vision for it as an attractive housing choice.At best result in higher priced homes and, in turn, further need for affordable homes. At worst, it will shift a greater proportion of investment to other forms of commercial property or investment asset class.

Of the four metropolitan areas, Columbus and Indianapolis are perhaps the most similar. The outlook for all four markets, and for the U.S. economy, hinges to some extent on the recovery of the manufacturing sector. Columbus has a Lucent manufacturing facility; Louisville has a General Electric appliance factory; Cincinnati has a GE Aircraft Engines plant; and numerous vehicle and parts manufacturers are spread throughout Ohio, Kentucky and Indiana. Growth will be sluggish, and will remain below the norm, but conditions should gradually improve by the second half of 2003, with momentum building into 2004.

To encourage institutional investment, however, will require central Government to improve some of its rules on funding and tax relief, and a greater degree of flexibility on the part of local authorities, for example, to consider time limited use-classes.