For the first time in 10 years, Mark Carney and his ‘merry men’ at the Bank of England have decided to put Interest Rates up to ½%, which is where they were before the Referendum last year.
If you remember, they dropped the rates when the unexpected Brexit result was known, in order to stabilise the markets and also promised to support the Pound where necessary.
Three years ago there were more Russians that you could ‘shake a stick at’ hoovering up a plethora of prime properties in London, with gay abandon. We not only thought ‘the Russians are coming’, it was an avalanche.
Originally, after the Cold War collapsed in the 90s, the first Russian families started to set up homes in Highgate, since this was near to the Russian Trade Delegation Compound, in Highgate West Hill, and strangely enough, close to Highgate Cemetery where ironically, Karl Marx is buried. It was interesting to note that when former Soviet spy, Alexander Litvinenko, died (he was allegedly murdered by drinking tea laced with Polonium 210, whilst being entertained by the Russian agent called Lugovi at the Millennium Hotel in 2006), his lead lined coffin was buried in the same cemetery.
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It appears that Prime Minister May and The Secretary of State for Communities and Local Government, Sajid Javid, are clearly ‘on the march’ in trying to fix the ‘broken’ housing market. Continue reading