Is the UK heading for a housing crash?
The Story
The Times
3.9 • 1.6K Ratings
🗓️ 25 October 2022
⏱️ 32 minutes
🧾️ Download transcript
Summary
Mortgage rates have risen sharply, hitting their highest levels in 14 years. We trace the ripple effect across the economy, as higher rates threaten to lay the foundations for another crash in the housing market.
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Guests:
- Hannah Al-Othman, news reporter, The Sunday Times.
- George Nixon, money reporter, The Times and The Sunday Times.
Host: Jenny Kleeman.
Clips: ITV, BBC News, Channel 4, Guardian, Sky News, Bloomberg.
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Transcript
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| 0:00.0 | Your humble postcode could do something extraordinary. |
| 0:03.5 | Every Saturday, your postcode could win you and your neighbours a share of £1 million. |
| 0:07.8 | It could mean that you'd never tire of enjoying a Michelin star. |
| 0:10.8 | And every month, local charities and good causes in the millionaire streets winning postcode areas |
| 0:15.4 | will also be awarded a share of £1 million. |
| 0:17.9 | Sign up before midnight on the 21st of September and see what your postcode could do. |
| 0:21.7 | People's postcode lottery. Good things come knocking. |
| 0:24.2 | People's postcode lottery manage lotteries on behalf of good causes, |
| 0:26.8 | 18-plus condition supply, play responsibly not available in Northern Ireland. |
| 0:30.0 | When you buy groceries, you can choose between the supermarket or a local store. |
| 0:34.4 | Why can't we have that choice when it comes to energy? |
| 0:36.8 | Power for people are campaigning for a change in the law that would enable you |
| 0:40.4 | to power your home with clean energy generated by local community owned scheme, |
| 0:45.5 | saving money on your energy bill and supporting local business. |
| 0:48.8 | Learn more at power4people.org.uk forward slash podcast. |
| 0:54.2 | While Westminster was absorbed in its own psychodrama, outside the bubble, |
| 1:08.5 | one topic has dominated the conversation. |
| 1:11.5 | Mortgage mortgages. Mortgage mortgages. |
| 1:14.2 | And worried there's a ticking time bomb on mortgages. |
| 1:17.2 | For many of us, the chaos of the mini budget means keeping a roof over our heads costs more |
| 1:22.1 | now than even a couple of months ago. That includes renters as well as homeowners. |
| 1:28.9 | This time last year, a typical £200,000 mortgage would have cost around 2%. |
... |
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