You can tell, can’t you, that Mr. Balls has had his ears ‘chewed off’ by the anxious Labour MPs in the south, particularly in London (Tessa Jowell and Glenda Jackson), by the fearsome backlash from the Mansion Tax proposals that is now the main plank of their manifesto policies.

Having ‘stolen’ another policy from the Lib Dems, in the absence of any other more worthy and imaginative proposal, they are now back-tracking in order to prevent potential Labour supporters in London ‘biting them on the butt’.  Do you sense a wafting of the reflux caused by the dropping of the 10p tax rate by Mr. ‘Inglorious’ Brown? Continue reading →

I despair. Not three months ago, Vince Cable and Mark Carney were worried about ‘a run away’ residential property bubble and I commented, at the time, that they seem to be detached from what was going on in ‘the trenches’.

Again, as I predicted, the London property market was cooling down significantly, even in the lower price ranges.  The high price range properties have shown no price growth whatsoever recently and the market outside of the villages of Central London, at the higher end, is 10-15% below its peak two years ago. Continue reading →