Property News Radio is Back!
It’s good to be back! Yes, after quite some time away, Property News Radio is once again gracing the airwaves!

It’s been a busy year at RMP HQ - hence the PNR hiatus - but with a bigger and better team behind me than ever before, I’m now able to bring you the latest property news every single week.

For many of you, this is a brand new concept - so, what is Property News Radio?

PNR is a weekly podcast bringing you the latest news in property and the economy - news that’s important to you as a property investor. It’s long been a valued resource, so I’m delighted to be back in the PNR recording seat!

This week’s episode features several big news stories, so let’s get started!

This week’s news:

Letting fees to be banned

A popular move for everyone; except for people who own archaic lettings agents! The decision to cut fees came through in the recent Queen’s speech, and will help prospective tenants into properties - which is a good thing. While lettings agents will try to shift these fees to landlords, we will simply see landlords shop around until they find one that doesn’t pass on the majority of the cost. Overall, not a huge or concerning change for you as an investor.

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Bank of England governor says it’s too early to raise interest rates

The Bank's governor, Mark Carney, has told how "now is not yet the time" to raise borrowing costs to combat Brexit-linked inflationary pressures. Carney voiced his concerns, and gave his strongest hints to date, that it’ll be some time until we see interest rates rise. Welcome news for those looking to take mortgages out.

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Buy-to-let UK property sales fall by almost 50% in a year

Quite a scary headline from the Council of Mortgage Lenders this week! A couple of things to remember: a lot of people are moving to limited company mortgages and away from traditional buy-to-let mortgages, and CML said house purchase activity was being driven predominantly by first-time buyers over the same period. A lot of people are still in the market, less so using traditional BTL methods which is to be expected, but limited company mortgages have increased dramatically in the last 12 months.

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Record low interest rates send house prices SOARING for homeowners

A sensationalist headline from the Express, stating that house prices have doubled in certain areas in 8 years. While low interest rates are a contributing factor, many others are in play, with supply and demand being the main one. When you consider the average UK property price doubles every 9 years anyway, it’s not really that sensational - there’s also many areas that have only seen increases of 20%. While this headline will understandably attract eyeballs, the data tells the true story. Don’t always take a sensational headline at face-value!

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Stoke-on-Trent is the UK’s leading buy-to-let hotspot!

An interesting one from the Mail Online. What’s important is the North-South divide, with no towns or cities based in the south or south-east entering the top-ten. All were in the north. Former hotspots such as London and Oxford are struggling, while places like Stoke-on-Trent, Liverpool and Leeds are doing very well. It’s not shocking news, and it doesn’t mean everyone should pile into Stoke-on-Trent, but do look at the wider region, check the fundamentals, and pick your location based on what will remain a hotspot throughout the lifetime of your property.

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