On this week’s show we take a look at possible interest rate rises, the continuing rental boom, some good news for Buy to Let mortgages, and London’s emerging ghost towns. Our quirky news piece shows that some estate agents really do have a heart!
This week’s news
Bank rate to rise this year, say experts

This is a good article with plenty of data regarding potential interest rate rises. A number of sources make their predictions, and on average a rise seems likely from early 2015 onward. But will the looming election have an influence?

When interest rates do rise the 'new normal' could be 3%, not 5%

Another article worth reading regarding the rate rises.

National rental prices up across the UK, latest index shows

The rental boom seems to be continuing for now, but the rate of growth is slowing. Common sense suggests it can’t continue, but we’ll have to wait and see.

Global safe haven for property 'creating ghost towns in London’

Perhaps slightly unsurprising when you consider 75% of new builds in London are bought by overseas investors, but a really interesting article that discusses the emerging ghost streets and towns emerging in some of the top end areas of Central London.

Quirky News: Ex-addict estate agent helps homeless man

Estate agents don’t get much good press, but here’s a good news story for a change! This is a heart-warming piece about a former heroin and crack cocaine addict who has turned her life around and been clean for over 10 years. She now works as an estate agent, finding landlords who will take on recovering drug addicts who are leaving prison. Well worth a read.

 
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Full transcript
Welcome to Property News Radio, your weekly dose of property news and information. Stay informed in just 15 minutes every week. Here’s your host, Rob Bence from RMP Property!

Rob Bence:         Hello and welcome to Property News Radio. I’m Rob Bence from RMP Property and the Property Hub. I hope you’re very well.  Thanks for joining me this today.  Let’s have a look at what’s coming up.

First of all, we’re going to look at will interest rates rise this year, a look at the continuing rental boom, good news for buy-to-let mortgages, London ghost towns and finally, our quirky news piece shows that estate agents do have a heart, at least some of them.

First of all, thank you for everyone listening. If you are enjoying the show, please go to iTunes and leave a review. They are much appreciated, and I’ll read yours out next week. The listener numbers are picking up every single week so I know there’s a lot of you out there so thank you very, very much.

Let’s look at our first news piece. It’s looking at interest rates and a potential of them rising this year or next. The piece I’ve taken most of this data from is the Sunday Times, but I’ll link you to this and others so you can have a read for yourself. You’ll find all the show notes at PropertyNewsRadio.com or RMPProperty/PropertyNewsRadio. You can find them all there. The Times is still doing a round-robin of some leading lights of the economic world and I’ve asked them when they feel interest rates will rise. There are some interesting data out there. The Centre for Economics and Business Research predicts that interest rates will rise in the final quarter of this year. Citibank also believes interest rates will rise by the final quarter of this year. Coutts, the private bank, believes it’s going to be 2015 – quarter three in 2015...