As a proud owner of a Griffin Dictionary and as a previous employee of the bank who was there when the name changed I was pleased to hear that HSBC might bring back The Midland.
The actual name change happened in 1999 when the BBC News was reporting, ‘many economists and business leaders now forecast a spring recovery’. Employment was falling and confidence building. The only notable difference was that interest base rates had fallen to 5.25%.
So with the banking clock seeming to have wound back to the 90s what of the economy and the property market specifically? The economy seems to be in a similar green shoots but slightly uncertain mode. Things look good but there is nervousness. The low cost of borrowing takes much of the sting away. If we had put our money into property in 1999 we would have seen the price of that house, on average, double.
As a nation of homeowners and a lack of supply in the housing stock, this growth looks set to continue. Whether to the same level is open to conjecture but if you buy the right house at the right price today then that feels like a good bet.
So are we back at 1999? I have just checked my ipod and much of my music is that old, however the word ipod isn’t in my Grifffin Dictionary, not having been invented. So in part of my heart it feels like we are but the world has in fact moved on.