Thank You Note From Bbc

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

"This is just a note to let you know that yesterday we removed the story 'Homeowners expect rising prices' from our servers.

Once again thanks for your persistence and for pointing out the inconsistencies in the source material."

Mr Online Business News Editor

Just received the above from the BBC - the lesson in clear - if you see any suspect research being reported on the BBC, etc. check out the sources - they're often dodgy - and report them to the relevant journos. OK, the journalists should do it, but they're often pushed for time or being pushed in the wrong direction by PR people and VI editors, etc.

Gruff

[sp1]

Brilliant well done , Just forward details to the itc for thier reords

[Mushroom]

Well done.

Gold star awarded.

[Jason]

I amazed that the BBC removed that article! Can you let me know how you found "inconsistencies in the source material"? This article caused another debate at work...

Also, there are lots of other websites with that story...

Rgds

Jason

[Sledgehead]

"This is just a note to let you know that yesterday we removed the story 'Homeowners expect rising prices' from our servers.

Once again thanks for your persistence and for pointing out the inconsistencies in the source material."

Gruff

<{POST_SNAPBACK}>

Gruff my 'ole mucka,

It seems like you've been excelling yourself.

Please elaborate for those of us who aren't familar with the whole story.

I personally have Fidelity in my sights over an FSA authorised advert. They reckon they are gonna write me a letter to explain themselves. That should make interesting reading. then I'll be looking to the FSA for similar. Seems like you really can't trust anyone.

Edited June 15, 2005 by Sledgehead

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

I was dubious about the BBC story when it came out.

So - phoned BBC to find out if they'd checked their sources - they referred me to the bank's press release - the press release mentioned the period covered by the research, which the press release and BBC story was based on, as being Spring - this sounded suspicious - I contacted the market research company mentioned in the release - they referred me to the bank's media relations department - I approached the bank's media relations department as a freelance journalist - the bank's media relations boss mentioned that the first press release relating to the research findings had gone out 2 months ago as they always tried to get max publicity from research work - alarm bells - I asked him to e-mail me the research schedule details / dates - he did - March and April - I contacted the BBC and told them the article was based on old, out of date resarch, but they went on the defensive saying their article was based on very recent research carried out by the bank, etc. - I dropped the bombshell - he (news editor) sounded shocked - I sent him the e-mail from the bank's media relations department - I asked the BBC to pull their story as it might encourage people to make the wrong investment decisions at the wrong time - the BBC pulled the story.

I have only had time to contact the BBC about the out of date research.

Here's the offending BBC article -

Homeowners expect rising prices

Homeowners are more confident in Wales than anywhere else

A majority of homeowners think their properties will rise in value over the next year, showing fresh confidence in the market, research suggests.

According to Yorkshire Bank, 54% of property owners feel their assets will rise in value, with those in Wales most optimistic about future market trends.

The housing market has cooled markedly in the past year, with sales currently 30% lower than a year ago. But with interest rates seemingly stable, activity is slowly picking up.

Optimism returning

In its survey, Yorkshire Bank found that in nearly all areas of the country, a majority of homeowners thought prices would rise in the coming year.

Wales topped the optimism league with 63% of respondents thinking prices would rise, followed by the north-west of England (58%) and London (57%). The two exceptions were the East Midlands and East Anglia, where less than half those interviewed thought prices would rise.

More than 10% of those living in the East Midlands actually thought that prices would fall.

The longer interest rates remain static, the more likely it is confidence will continue to build

The survey revealed a growth in confidence in the past three months, a period in which many economists have concluded that further immediate rises in interest rates are unlikely.

The Bank of England has kept interest rates on hold at 4.75% for the past ten months, after successive rises in 2004 took the heat out of the property market.

"The longer interest rates remain static, the more likely it is confidence will continue to build and the market remain healthy," said Gary Lumby, head of retail at Yorkshire Bank.

Full price

Wales is the only area of the country in which homeowners are more confident of price rises than they were a year ago, the survey found.

However, one in four sellers nationwide is now sufficiently confident to hold out for the full asking price and not consider accepting lower offers.

"The fact that more buyers are prepared to offer the asking price are at least tentative signs that confidence is returning to the market," Mr Lumby added.

The number of new mortgages being approved has risen in each of the past three months, indicating an upturn in activity.

However, approval levels are about 40,000 below their peak last year.

Edited June 16, 2005 by gruffydd

[crash 2005]

WEBMASTER

PIN THIS EXCELLENT EFFORT

[The Glassman]

Excellent stuff, well done!

The Glassman

Edited June 16, 2005 by The Glassman

[Guest magnoliawalls]

Yes, well done and thank you.

[curious1]

BRAVO

[Jason]

BRAVO

<{POST_SNAPBACK}>

Nice one! Well done.

I was going to ask my journalist friend about this, but this suject is a no-go area, as he's just bought his first property! (I didn't want a debate on the phone).

- Jas

[DoubleBubbleTrouble]

Well done gruffyd but I don't think the BBC's response is satisfactory.

They should print a story retracting their earlier one to make people who may have read it realise they have been woefully mislead.

[justanewbie]

This is first class journalism and shows a real care and interest

in the effect of the media on people's lives.

Excellent.

[Marina]

I applaud you for your persistence and initiative. If only more of us could do the same - you never know what might happen. David v Goliath and David won again. Well done.

[ʎqɐqɹǝʞɐɥs]

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

I could take things further and push for a public retraction. However, I think I've established a good channel of communication with a pretty decent news editor at the BBC, so I think that I'll let things lie for the time being. This relationship will be of more value to us, in the long term, than a blaze of publicity criticising the BBC, which could be achieved quite easily, but might be counterproductive. Good suggestions Dr Bubb. I don't seem to be able to alter the title of this thread - if there's a way, please let me know.

Gruff

Edited June 18, 2005 by gruffydd

[patprimer74]

Well done Gruff; valuable work.

Llongyfarchiadau.

p

[hra]

By the same token, shouldn't the Independent withdraw their article "Things look brighter for first time buyers" ? That, too, is substantially based on a rehash of not particularly recent events: the stamp duty threshold increase, and the HomeBuy scheme.

[Vivaldo]

Isn't this kind of inaccurate BBC article illegal - like articles manipulating share prices, etc.?

[Catch22]

Yep well done Gruff