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Property News Radio – Episode 5
This week’s news
On this week’s Property News Radio, we’re talking about interest rates being put on hold, properties getting smaller, regen beside the seaside, and much more!
Bank of England interest rates set to stay on hold
No huge surprise here! But let’s take a look in a little more detail to see what we can learn from this. Basically, interest rates have been maintained at 0.25% – a historic low – as voted by the MPC. It means that interest rates aren’t going anywhere, which won’t come as a shock to many. We don’t expect to see any changes for the remainder of this year and probably well into next year either. If we didn’t have Brexit in play, interest rates probably would have been raised by now in line with America, but we are where we are. Don’t expect to see any rate rises until we have a bit more certainty behind us.
To read more about this topic, click here.
The UK could be on the brink of a huge property shift as 5.7 million people consider moving to smaller homes
A really interesting story from the Independent this week, looking at the trends in property and the way we live – particularly the size of the homes we live in. New research suggests that 5.7 million people would consider moving into smaller homes – a huge number – with half of those 65-and-over tempted to downsize. This is likely to be a continuing trend. When you consider we’re building smaller homes nowadays due to a lack of land, this is quite a handy trend. We have a supply and demand issue in this country and it isn’t going away. With the over-65 population due to grow twice as fast as the working age population over the next ten years, this needs to be addressed sooner rather than later – we need to create effective, smaller homes for this group of people.
To read more about this topic, click here
Belfast’s first large scale “build-to-rent” housing scheme
Belfast has confirmed it’s first build-to-rent scheme, which means a block is built specifically for the rental market. We’ve seen this happen in London, Manchester and other cities across England, and now Northern Ireland is following suit with Belfast leading the way. Figures suggest almost a fifth of people in Northern Ireland live in private rented accommodation, so demand is strong. The article talks about the block being of a big size, but at 120 apartments – while a fair size – it’s a microscopic section of the market. However, the fact it’s happened means I see this trend continuing. I don’t see this as taking over the private rental market completely, but it will bring professionalism to the market and drive out rogue landlords.
To read more about this topic, click here
14,200 new homes and Poole town centre regeneration
I love this part of the world so this story caught my eye this week! This is a massive regeneration project in Poole on the South Coast. This blueprint has been drawn up to provide over 14,000 new homes. Affordability is an issue in this area – and we’ve already talked about the need for more homes in this episode – so this many new homes coming into Poole is a really positive step. With a project of this scale, the local community will benefit from new schools and infrastructure. It’s a big deal for an area this size, and it will absolutely revitalize the town. Areas like Liverpool and Manchester tend to get the stories like this, so it’s fantastic news for a town such as Poole to see a project like this being proposed.
To read more about this topic,
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By Rob Bence from RMP PropertyThis week’s news
On this week’s Property News Radio, we’re talking about interest rates being put on hold, properties getting smaller, regen beside the seaside, and much more!
Bank of England interest rates set to stay on hold
No huge surprise here! But let’s take a look in a little more detail to see what we can learn from this. Basically, interest rates have been maintained at 0.25% – a historic low – as voted by the MPC. It means that interest rates aren’t going anywhere, which won’t come as a shock to many. We don’t expect to see any changes for the remainder of this year and probably well into next year either. If we didn’t have Brexit in play, interest rates probably would have been raised by now in line with America, but we are where we are. Don’t expect to see any rate rises until we have a bit more certainty behind us.
To read more about this topic, click here.
The UK could be on the brink of a huge property shift as 5.7 million people consider moving to smaller homes
A really interesting story from the Independent this week, looking at the trends in property and the way we live – particularly the size of the homes we live in. New research suggests that 5.7 million people would consider moving into smaller homes – a huge number – with half of those 65-and-over tempted to downsize. This is likely to be a continuing trend. When you consider we’re building smaller homes nowadays due to a lack of land, this is quite a handy trend. We have a supply and demand issue in this country and it isn’t going away. With the over-65 population due to grow twice as fast as the working age population over the next ten years, this needs to be addressed sooner rather than later – we need to create effective, smaller homes for this group of people.
To read more about this topic, click here
Belfast’s first large scale “build-to-rent” housing scheme
Belfast has confirmed it’s first build-to-rent scheme, which means a block is built specifically for the rental market. We’ve seen this happen in London, Manchester and other cities across England, and now Northern Ireland is following suit with Belfast leading the way. Figures suggest almost a fifth of people in Northern Ireland live in private rented accommodation, so demand is strong. The article talks about the block being of a big size, but at 120 apartments – while a fair size – it’s a microscopic section of the market. However, the fact it’s happened means I see this trend continuing. I don’t see this as taking over the private rental market completely, but it will bring professionalism to the market and drive out rogue landlords.
To read more about this topic, click here
14,200 new homes and Poole town centre regeneration
I love this part of the world so this story caught my eye this week! This is a massive regeneration project in Poole on the South Coast. This blueprint has been drawn up to provide over 14,000 new homes. Affordability is an issue in this area – and we’ve already talked about the need for more homes in this episode – so this many new homes coming into Poole is a really positive step. With a project of this scale, the local community will benefit from new schools and infrastructure. It’s a big deal for an area this size, and it will absolutely revitalize the town. Areas like Liverpool and Manchester tend to get the stories like this, so it’s fantastic news for a town such as Poole to see a project like this being proposed.
To read more about this topic,