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The Truth About UK Property – A Stretch Too Far

Housing-Market / UK Housing Oct 17, 2007 - 08:55 PM GMT

By: Sarah_Jones

Housing-Market Best Financial Markets Analysis ArticleUK House prices have trebled over the last 10 years and analysts are debating whether this is the top of the market and what will happen to the value of people's homes. Getting a foothold, and staying, on the property ladder has never been so difficult. Whether it's buying, selling, renting or simply keeping up with the mortgage payments, nobody seems to know the right thing to do. Now Andrew Verity, BBC Radio 5 Live's Business and Finance expert, travels around the UK to explore the issues surrounding the property market in a bid to tell The Truth About Property.

Andrew Verity searches for The Truth About Property
Andrew Verity searches for
The Truth About Property

In the first of three programmes, Andrew discovers what the options are for people trying to get on and stay on the property ladder. In this climate of uncertainty, where the volatility of the stock market makes it hard to predict which way the property market is headed, the outlook for first-time buyers is pretty grim. This is demonstrated by the stories in the series: Dawn decides to spend her summer camping in a queue for the chance to buy a house; and Cathie, who at 36 still lives with her parents, opts to go online in a bid to find a stranger to buy with.

As record house prices and increasing interest rates are pushing people out of the property market, Andrew assesses the economic factors which determine how much people pay for their mortgages. Andrew meets those who are feeling that they have totally overstretched themselves and, after borrowing seven times their salary, can they stay in the property market or is repossession round the corner? An increasing number of private companies now offer mortgage rescue schemes, promising to relieve homeowners of their financial burdens.

"The Truth About Property" - The first of a three part series is to be shown on Thursday 18th October on BBC 2 at 8pm

Sarah Jones

The Market Oracle is a FREE Daily Financial Markets Forecasting & Analysis online publication. We present in-depth analysis from over 100 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction.

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