International property investors paradise

With the pound devalued we quickly think about our holidays and when to get our Euros.

Those in business look at how easy it would be to export given the perceived 10% discount to Europeans etc at the moment. Others in business cringe as they see the cost of their imports increase by 10%.

Property prices in London may have been kept high by foreign investment over the past 7 years and this is likely to continue with the pound losing its value. Russian, Saudia Arabian and Chinese have been the most popular sources of property investment as far as we can see.

Elsewhere in the country we see property values in the North struggling as interest from overseas appears to be restricted to the Capital.

Properties are still selling nationally though, but most of the houses we are seeing are either empty or the owners are downsizing or moving into rented accommodation.

We have lost our triple A rating and to be honest, would we really know what this meant 10 years ago? But we listen to the Press and we worry about something new. Just another excuse for lenders to increase interest rates maybe? RBS makes huge losses and pays out huge bonuses, but we accept this as we hope that banks making their money back will result eventually in them lending again. And that is what we need most of all. Not that small businesses want to borrow, but they want to know the option is there IF they need it.

So lets hope the new Canadian Bank of England Governor will make it all better. More to the point, lets hope he keeps interest rates low!