This week we continue with the new format, but with a different guest! We’re taking a look at mortgage approval rates, a housing shortage, and encouraging news for first time buyers. And finally, our quirky news piece this week comes from a listener!
This week’s news
Bank of England: Mortgage approvals fall for the first time in a year

This is an article that announces mortgage application approval rates are down for the first time in a year. It caught us by surprise here at RMP, but approval rates are still 33% higher than I February 2013 so it’s not all doom and gloom.

South of England faces shortfall of 160,000 homes

This is an interesting article from The Independent that suggests the South of England is facing a shortfall in new homes and the figures could be as high as 160,000 by 2018.

UK house price expectations fuelling first time buyer spending, new research says

This article shows strong numbers for first time buyers, with an increase of 42% year on year. This is a massive rise and also great news which shows confidence amongst first time buyers is increasing.

Luxury treehouse architect upscales to target billionaires

Thanks this week to Andy Norman, one of The Property Hub’s Plus members, for sharing a quirky news piece about treehouses for billionaires. Apparently the treehouses start at £400,000, but many seven figure treehouses have also been sold! Some serous money here! There’s also a great video to check out too.
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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:         Welcome to Property News Radio! I’m Rob Bence from RMP Property, The Property Podcast and The Property Hub. Thank you so much for joining us again this week. We continue in our new format that we set up last week and I’ve got a different guest with me. But before I introduce him, I would like to give you a rundown of what we got coming up this week.

So first of all I’ll introduce our new guest then we’ll get into the news. We’re going to look at mortgage approval is falling, which is really interesting. I didn’t expect that. We’ll then get a look at our housing shortage. We’ll then move on some encouraging trend for first time buyers and finally we have a quirky news piece that’s not from ourselves, so we’ve got our listener to thank for that one but stay tuned and we’ll run through it all.

Okay, before we get going, I first like to introduce one of the property consultants here at RMP, John. Hello John, how are you?

John:                     Hi there everybody. It’s John here, pleasure to be here.

Rob:                       Great, well John joined RMP not so long ago. He’s got great experience. He’s a property investor himself. He’s worked on mortgages. He’s worked as an estate agent. He’s worked as a letting agent. He’s got a great background, great knowledge and as I said he does it himself, so he’s talking from experience. It’s great to have him on this week’s episode. But let’s get straight into the news stories.

And the first story is mortgage approval fall for the first time in a year. Now, this really caught me by surprise. Everything has been so positive. Everything is moving up boom, boom, boom. Property price is going crazy. Everything, you know, property, property, property. Positive, positive, positive,