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| BBC ONE Unplaced Week 43 |
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The Truth About Property – Have You Got Rich? Ep 2/3
Unplaced
Day and time to be confirmed BBC TWO |
With house prices rocketing over the past 10 years, home-owners in the UK have made millions on property – but that's not the full picture. In episode two of the series exploring the issues surrounding the property market, Andrew Verity, BBC Radio 5 Live's Business and Finance expert, discovers that, while there are big winners, there are also big losers, and reveals some remarkable facts about the way the market works in his bid to tell The Truth About Property.
Whether potential buyers feel they've hit the jackpot or high prices stand between them and their dream home, they still need to ask themselves if the property is a good investment.
In Nicholina's situation, her two sons are forced to share a bedroom with their granny because she has been priced out of moving up the ladder. She bought a two-bedroom maisonette in London four years ago for £125,000. It's now worth £200,000, but it's not enough to buy a three- bedroom house. She has made money on paper, but not in reality.
Andrew looks at some success stories, too: George, who bought his council house in Hackney 14 years ago for £37,000 and, following a sale, has just made a profit of half a million pounds, leaving scope for more investment; and Maxine, a property investor who, over seven years, has built up a buy- to-let property portfolio of 27 properties which has allowed her to leave full-time employment.
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