Summary
The Newscast guide to housing. As the Bank of England issues warnings over the offer of no-deposit mortgages, we look at the state of the housing and rental market in the UK. Housing correspondent for the i newspaper, Vicky Spratt, tells Adam what to expect from a major shakeup of renting rules. Estate agent Megan Eighteen tells us how industry insiders are feeling. And Newsnight economics editor Ben Chu explains the finances behind owning vs renting, and whether housing is actually a good long term investment. Today’s Newscast was presented by Adam Fleming. It was made by Chris Flynn with George Dabby and Ivana Davidovic. The technical producer was Michael Regaard. The news editor was Damon Rose.
Transcript
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| 0:00.0 | BBC Sounds Music Radio Podcasts |
| 0:04.9 | Hello, I'm coming to you from a very small, quite hot, but otherwise quite comfortable |
| 0:09.6 | radio studio at BBC HQ in Liverpool, because I'm still here having gone to the Eurovision |
| 0:15.1 | semi-final, and there's a train strike on Friday by members of the ASLF Union, which means |
| 0:20.9 | there are no trains for me to get home, so I'm here for a day longer than planned, and |
| 0:25.6 | then there's an RMT strike on the realways on Saturday as well, and then there'll be |
| 0:31.0 | some more strikes towards the end of May, including the FA Cup final, so not just music that's |
| 0:36.3 | affected, but sport as well. Now in this episode of Newscastle, we're going to focus on one |
| 0:41.2 | subject. It is housing and the property market, because there's lots of things we could be |
| 0:46.7 | in the business of clearing up, and helping us out throughout is going to be Vicky Spratt, |
| 0:51.7 | who is housing correspondent at the I newspaper and author of the book, Tannins. Hi, Vicky. |
| 0:56.0 | Hi. Before we dive into the actual episode, should we just do a bit of a newscast property |
| 1:02.1 | market diction recoriner and define some of the terms we're going to use? |
| 1:05.3 | Yeah, let's do it, because housing is full of jargon, sometimes fellowcomers speaking |
| 1:09.6 | another language. Like Hannah Woodingham and their Eurovision. Okay, last |
| 1:13.4 | Eurovision reference. Equity, slash negative equity. |
| 1:17.6 | Oh, okay, equity is basically the amount of your home that you own, so it's how much theoretical |
| 1:24.3 | money you have in it. So it's the money you put in, and then how much you have if it's gone up in |
| 1:28.9 | value, so how much you own of your home. Negative equity, it's the opposite. So when your home is |
| 1:33.8 | less than you paid for it, and crucially, potentially worth less than you borrowed to pay for it, |
| 1:39.9 | meaning that you have a loan, which is greater than the value of your home. |
| 1:44.1 | Duespoir, very good. Rent control. Rent control or rent regulation, depending on who you talk to, |
... |
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