The ‘broken housing market’ must be the biggest issue not only for the Chancellor but for the government and for the Country at large. There is much talk about reducing Stamp Duty, at the lowest level, which could further stimulate the market and in doing so, exacerbate the interests of the already moribund first time buyer who would be in a greater parlous state than at present, if Help-to-Buy is not significantly expanded at the same time. Continue reading
Glentree Blog
Yearly Archives: 2017
Interest rates up, for the first time in 10 years!
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.
The new wave of Russian buyers descending on our shores
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.
Continue reading