Monthly Archives: August 2023

We’re out – and we’re staying out

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If you were mugged for £350, then given half of it back on the condition you could only spend it on what your assailant wanted, would you go back to them the next day for a repeat performance? Probably not. Why then, are the Remainiac contingent doing all they can to hamper a clean break from the EU? Remainers are not only talking down our freedom, but they’d have us believe that everything that is wrong with the country is due to Brexit from environmental catastrophes to airport waiting times and even to the price of organic flaxseed.

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Exclusive Living at its Finest – Properties for sale in the UK’s Bishops Avenue

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Not just in the UK but across the world, Bishops Avenue is hailed as one of the wealthiest streets. Nicknamed Billionaires’ Row, this sought-after location is renowned for its luxurious properties and extravagant lifestyles.

Bishops Avenue is nestled comfortably between Kenwood, Hampstead Heath and East Finchley. From elegant mansions to contemporary penthouses, each residence boasts stunning architectural design, premium amenities, and sprawling grounds. It goes without saying that owning property there would be incredibly exclusive and prestigious in the UK.

A quick glance at the properties for sale in Bishops Avenue.

Allingham Court, N2, Bishops Avenue

This spectacular lateral garden apartment is upscale and is ideal for those looking for a high-end lifestyle. Each apartment has been designed with a blend of modern and contemporary finishes. It is fully air-conditioned and has been interior decorated to a high standard including rare marble in the bathrooms. Rooms are generously sized and include a reception room, dining room, separate utility room and reception hallway, in addition to a master bedroom with a large bathroom. The terrace leads to beautiful landscaped gardens. Common amenities include concierge service, security, swimming pool, sauna, gym, underground parking and storage in the basement.

Crossways, N2, Bishops Avenue

This 1592 sq ft apartment is a stunner with luxurious and well-appointed apartments amidst elegantly manicured communal gardens. The gated entrance adds to the regal element of the property that offers lateral spaces with opulent apartments and stunning penthouses. The apartments have the highest standard internal finish, in addition to their elegant and classic façade. Residents will have access to secure underground parking, hotel-style concierge service and extra private storage. The property is in close proximity to the Market Place, Hampstead Heath, East Finchley Tube Station and Highgate villages.

N2, Bishops Avenue

This 700 sq m fine mansion is the perfect family residence, double fronted and detached, spread across three floors. In addition to seven bedrooms and eight bathrooms, there is a kitchen, four reception rooms, a gym and quarters for staff. On the outside, there is a luxurious terrace facing a rear garden and a summer house with a sauna, gym and shower. It is close to Highgate, Hampstead, Kenwood and Hampstead Heath.

With the Bank of England raising interest rates is the medicine worse than the ailment?

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Ok, the BoE were not the quickest off the mark to crank interest rates upwards in 2021/22 when the early warning signs of inflation were apparent, as demand rapidly picked up unexpectedly after Covid. But I think it is folly to increase them this week without giving the last thirteen increases a chance to make their full effect felt.

Fixed rate mortgages were first offered in 1989, in the middle of the then recession, and they have become very popular ever since. Particularly as interest rates had rock bottomed in 2020.

This effectively means that the effect of high interest rates will be less immediate and will probably take 12-18 months to fulfil their efficacy.

Relentlessly increasing them before this has had a chance to work, is like double dosing a patient with medicine that could exacerbate the harm done from the ailment.

Me thinks that the committee of the BoE have a twitchy finger on the tiller of the ‘good ship, UK Economy’ and maybe a more sanguine approach to the outlook would be well advised.

Undoubtedly, we are going to see more and more casualties that emanate from the effect of the credit crunch, and this will continue unabated until inflation and rates come down over the next few years.

Already, the direction of movement of the inflation rate is southwards albeit a little too slowly for some observers however, I think that time, the great healer, needs to play its part before we become too ‘trigger happy’.

The lenders are trotting out some interesting fixed rate mortgages which anticipate the downward trend in interest rates in a year or twos time and this will take the pressure off house owners and buy-to-let landlords, who are struggling at the moment with a high cost of borrowing not assisted by the cost-of-living crisis.

I personally, don’t believe that there will be a cataclysmic drop in values of residential property, as I think that they will probably ease by 5-10% over the next year to eighteen months, but not more than this.

What may underpin the market is a noticeable and persistent limited supply of properties available to buy, which should certainly serve to stabilise values.

Prior to any recession, in the past, there has been a noticeable increase in homes for sale accompanied by shrinking demand, and that is where values have subsequently fallen, precipitously. There are no signs of this trend at the moment.

The middle classes are considering selling their homes before the full negative effect of a change of government next year is felt, as they don’t want to be trampled in the stampede which could take place if the electoral polls continue to point towards a Labour Party victory in 2024.