Wednesday, May 30, 2007
BBC hanging on by fingernails to housing boom spin
BBC "News": House prices 'still accelerating'
In desperation the BBC has resorted to trumpeting about areas where prices have gone up, Brighton and Hove being the latest. They are loathe to mention "the rest of the country" where prices are declining according to estate agents. Those journalism graduates at in Television Centre in White City must be getting desperate ...
Posted by paul @ 01:03 PM (42 views) Add Comment
12 Comments
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1. confused76 said...
Let the good news still flow in, we do not want to scare the MPC before next month IR rise
2. speculatorone said...
confused76 I agree. GB and his henchmen at BOE will be looking for any opportunity to hold rates.
3. David20040_0 said...
We need stories like this so the BoE raises rates again. I wonder if anyone from the BoE reads this site?
4. Randomkevlar said...
This is good news, the last thing in this boom & bust cycle is the speading of the HPI outside london and the south-east. As prices in london start to hold or even fall, VI will be able to support the market by pointing out other bits of the country having a high HPI causing more damage to the market, resulting in a bigger crash.
5. nearly30 said...
You have a point paul - the stories we get depend on the age of the journalist me thinks and of course whether they are corporate whores - nespa!!
6. tyrellcorporation said...
Please somebody park a lorry load of fertilizer outside the BBC?!?
7. mike said...
BBC, responsible journalism....
8. japanese uncle said...
This is a spin not to support the property market, but to prick the bubble, as this story will inevitably help to send IR still higher.
9. Msparks said...
The statistical release is here.
http://www.landreg.gov.uk/assets/library/documents/hpir0507.pdf
particularily interesting is the detail, which shows some counties prices are already falling or close to it (central england & south wales).
Cant find an earlier version of that report, but It would be nice to see how long there has been counties with falling ave price. (considering all annuals are still positive Id say not at all)
e.g. Neath Port Talbot has a monthly change of -2.8%
10. Ash4781 said...
Does anyone get the feeling there is a struggle between bulls and bears within the BBC ?
11. paul said...
Neath and Port Talbot? It's always been a slightly run down an area - It's not a wealthy county of Wales after all. Personally, I have a reminiscent fondness of the place but it's basically been living beyond its means in terms of property prices.
In support, I doubt that speculation has got as out of hand there as it has in other areas, MSparks.
12. Xpatjock said...
As far as I can see at the moment prices in the Cardiff area seem to be holding,. That being siad, I have noticed that proerty seems to be staying on the market longer. Also, the massive number of new build flats/apartments being built around the city centre and Cardiff Bay doesn't exactly help as afar as keeping prices up is concerned.