The Bank of England on Wednesday abandoned its six-month-old strategy of pledging to consider raising interest rates only when unemployment falls to 7 percent, saying it would now consider a range of factors.

Mark J. Carney, the governor of the Bank of England, also stressed that a rate increase was still some way off. Click to view story on NY Times

The Guardian is running a story on London’s magnetic pull for young people all over the UK, illustrated by the statistic that one in three 22-30 year olds leaving their UK hometowns end up in London. Click image to go to the story.

Net flows of people to London. Click image to go to Guardian story

Net flows of people to London. Click image to go to Guardian story

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If you have an emergency between 21 DEC and 04 JAN please call 0800 644 0200.

Interesting video from CBRE looking at new research on the effect Crossrail will have on house prices in London.

Click image to go to video:

Click image to view video

Click image to view video

Homeowners with the good fortune of having planted themselves along the Central, Piccadilly, Victoria or Jubilee lines or relevant sections of the Northern line can expect an effect on house prices and rents following news that these lines will shortly be operating right through the night. Click the image below to see the Night Tube Map

Click image to see night tube map

Click image to see night tube map

The Hackney Fashion Hub is a major regeneration project on the edge of Hackney Central town centre that will create a new focal point for UK fashion in the heart of London’s East End. The project is being pushed along by Harry Handelsman the brains and brawn behind the restoration of St Pancras.

Kudos for Hackney if this project gets the nod.

http://hackneyfashionhub.co.uk/

Crossrail has completed the construction of the first of its new train tunnels under London. It comes as Crossrail’s tunnelling machines reach the 13 mile point in their 26 mile marathon tunnel build.

Crossrail tunnelling machine Phyllis has finished the project’s first train tunnel, 17 months after commencing her 4.2 mile (6.8 km) journey from Royal Oak in west London and Farringdon in central London.

First Crossrail tunnel completed

More here

The Economist reports that LONDON is turning inside out. That, anyway, is roughly the argument of a couple of pieces they published recently. Just as affluent young professionals seem to be staying in the inner-city longer, turning places such as Dalston (in Hackney) and Peckham (in Southwark) into hipster enclaves, so too are the outer suburbs getting poorer, as people who cannot afford inner-London rents are pushed further out.

Click the image to read more:

Click image to go to story

Click image to go to story

Plans for a major housing development including a 19-storey tower next to Dalston Kingsland station have been submitted to Hackney Council.

One hundred and twenty five homes are proposed in a scheme ranging in height from four to 19 storeys with shops on the ground floor.

Click the image for the full story at Dalstonist.com

Click to go to story at Dalstonist.com

Click to go to story at Dalstonist.com