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25th July, 2010.
INTEREST RATES AT 0.5% - THE
EFFECTS FOR PROPERTY
By Peter Wood, Director, Investment.
Interest rates in the UK are the responsibility of the Monetary Policy Committee of the Bank of England.
Interest rates are set and adjusted by the Bank as one of the means of managing the UK economy and trying to ensure the County’s best financial interests are served by setting of Bank base rate.
The Bank of England Base Rate was at a ‘historic high’ of 5.5% as far back as February 2008. I say historic on the basis this was 2½ years ago. Base rates then plummeted, given the timescales involved, to 0.5% at the beginning of March 2009.
The July meeting of the Bank of England again voted to keep the base rate at 0.5%, this for the 16th month in a row. With inflation (CPI and RPIX) consistently operating within a band of 1% up to 5.5% for the last two years and with RPIX inflation (excluding mortgage interest payments) still at 5% in June 2010, there is a real erosion of value for those with savings and cash based assets.
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Harris Lamb Blog - 6 July |
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6th July, 2010.
The Harris Lamb Cycling Adventure
By Gert Corfield, Director, Management Department.
Idle chat about ‘doing another cycle’ following a London to Paris cycle a couple of years ago can lead to some extreme ideas! And so four Directors of Harris Lamb set off for a long weekend in June to cycle from Holyhead to Chepstow, through Snowdonia and the Black Mountains, over a period of three and a half days.
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Harris Lamb Blog - 21st June |
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21st June, 2010.
‘Shall I start at the beginning?'
By Sukvinder Kaur Birdi, Planning Department.
Having started on reception, then moving to the agency department and now 6 years on I find myself in the planning department to say there has never been a dull moment for me at Harris Lamb is an understatement!
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Harris Lamb Blog - 8th June 2010 |
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8th June, 2010.
‘They think it’s all over, well it is now!’ (or is it!?!)
By John Williams MRTPI, Land and Development Department.
When the world of football gathers in South Africa in one weeks time there will be plenty of optimism around the England team and the prospect of repeating the success of 1966. But there is also cause for optimism within the residential land market if the latest market indices are to be believed.
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Harris Lamb Blog - 18 May |
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18th May, 2010.
Has the Residential Land Market Recovered?
By Marc Wilson MRICS, Residential Development Department.
Finally a good news story, the annual rate of UK house price inflation has hit double figures for the first time since June 2007, according to the Nationwide. But has the housing and development land markets really recovered?
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