property-markets

property-markets - LearnEnglish Professionals PROPERTY...

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Unformatted text preview: LearnEnglish Professionals PROPERTY MARKETS AUDIOSCRIPT Listen to this dialogue between David and his sister, Jackie. Optional exercise Read the f ollowing statements and decide whether they are TRUE or FALSE according to the listening. 1. 2. 3. 4. 5. David and Simon have bought a flat as an inv estment for their f uture. David and Simon were paying more for a rented flat than f or a mortgage. David’s sister thinks it might have been better to wait bef ore buying a flat. According to a report that David read, property prices will soon stop rising. Household rates rise when borrowing is high. (Answers below) Jackie So, David, you and Simon hav e finally bought a flat together. W hat a surprise! David Yes. It seemed like the best idea. W e aren’t getting any younger and neither of us hav e got a pension to speak of . Jackie W ell, property is a saf er bet than any f ormal pension. Property prices are always on the up. I suppose you can’t really go wrong. David Yeah, that’s what we thought. Then there’s the rent issue. Prices in south London are crazy. W e’v e been paying around a thousand pounds a month rent f or years. The mortgage repayments are just a little more. So we thought, why not inv est in our own f uture instead of the f uture of our landlady? (laughter) So we took the plunge. It’s only a small flat but it’s great to be home owners at last. W e’re on the first rung of the property ladder now. It f eels great ­ a bit scary though. Jackie W ell I’m glad you’re thinking about your f uture. I don’t know whether it’s a good time to buy, though. Surely property prices just can’t carry on going up and up? The bubble will have to burst at some point. W ouldn’t it hav e been better to wait a bit? David Jackie, stop worrying. You’re worse than Mum. W e have looked into this caref ully. Simon knows more than me because he works in banking. There’s no evidence that prices will f all. There was a report in The Economist the other day and it said that house prices are at an all time record high just about everywhere ­ the UK and the rest of Europe, the States, New Zealand ­ and there’s no sign that the trend is going to change. Jackie Yes, but ­ David (interrupts) ­ we do know what we’re doing you know. Rate increases are what we really need to worry about. Jackie Rates? David Yeah, apparently when household debt increases and more people borrow money to buy a home, there is a tendency f or rates to increase. But we’v e taken care of that. Our mortgage insurance protects us because it’s locked into a long­term low rates so we won’t be affected by a rise in rates. Jackie Sounds like you’v e thought of everything (laughing) David Yeah, well, you know what Simon is like. He’s got a good head f or figures and he isn’t one to take risks. Jackie And how is Simon? I thought he’d be with you today. David Oh he’s f ine ­ really excited in fact. He couldn’t make it today. He’s busy organising our flat warming party. He’s got all the recipe books out. W e were thinking of a week Saturday. Answer s: 1. True, 2. Fals e, 3. True, 4. Fals e, 5. True www.br itishc ouncil.or g/pr of essionals.htm © The British Council, 2007 The United Kingdom’s in ternational orga nisation for educational opportunities and cu ltural relations. W e are registered in England as a charity. ...
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