Green shoots of recovery in the UK
 

Well it is a sign!

I have stayed in London in hotels over the past three years. There is a group of around 20 business hotels I use and each week I check who has the best rate and book one of them.

Over the past three years - as soon as the summer holidays finish rates jump and average £200 per night. That is over the past three years.

Within a month of Lehman collapsing this basket of hotels was averaging 90-140 for the same rooms. A huge drop.

Within the last month prices have risen again - not to prerecession levels but up to around £150-180.

At the same time house buying activity has increased.

At the same time the market in used exotic cars has also firmed up. I have just bought my 911 in time as the average price of used GT3s has risen £1000 in the past two weeks alone.

So at least three signs of increased economic activity.

Oh, and in terms of bank lending - I needed a short term loan of £15k to cover my car purchase and it took a two minute call to my bank at 8pm last night and when I woke up this morning it was in my current account. No shortage of lending there then :)

I have to admit, I noticed the GT3 prices jumping up suddenly as well. Just as I was starting to justify to the wife the merits of buying one so cheaply. Bugger.


R