The Pound Sterling has been rising against a weak Euro, whereas growth is down the relative impact of the downturn see’s the country in a stronger position than our European counterparts. The Bank Of England are pointing to their purchase of £200 billion pound bond stock purchase (quantitative-easing to you and me) as a prime reason why we have not been dragged into a Euro style meltdown in the wake of Iceland, Ireland, Spain and Greece needing bailouts.
Figures from a Knight Frank/Markit report has another view on the housing downturn. Its usually the low earners who lose the most, sometimes the big earners are caught but now it is the middle earners who seem to be paying the price of the economic problems. Due to tax changes and lack of confidence in rental market, paused wage rises etc people around the average wages £26k per year are feeling the pinch more than ever.
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Posted in General September 26th, 2011 by Kenny | No comments
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Posted in General September 19th, 2011 by Kenny | No comments
Mixed messages again, the average house price has risen by 0.3% in August 2011 compared to July 2011 but they are still over 2% down on the previous year. English builder Redrow has announced increased profits up to £25 million after making a pre-tax loss the previous year.
Certain areas of Central London and other cities are growing faster than ever with prices doubling in the last year or so, even Ireland has seen some stability returning to prices. Welsh prices are still down. Many cash in hand buyers are propping up prices with travel improvements quoted as one of the main reasons.
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Posted in General September 12th, 2011 by Kenny | No comments
In the week that Alistair Darling the ex Chancellor admitted that even the outgoing government couldn’t agree what to do about the financial mess that we are slowly dragging ourselves out from to the extent that the PM thought it would all blow over in a few months whereas everyone else saw a full on recession although in political lingo it was called a double dip back then. Or credit crunch.
Alistair Darling is obviously promoting his new book, the last pay-off ex politicians get, win, lose or draw. He also takes a swipe at
Sir Mervyn King, the governor of the the Bank of England governor saying he let the present government extend the crisis for their own ends. Of course thats cheap shot, imagine GW Bush blaming Omaba for the crisis over the pond! Anyway Labour devolved more powers to the BOE in the first place, so you cant blame them for using it!
From the book it seems like the last days of the Labour government were more like 1945 Berlin than a modern democracy. No communication between the top men while the country spiralled into chaos.
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Posted in General September 5th, 2011 by Kenny | No comments
