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Papa Lazarou

Rightmove -2.4%

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Hi,

Rightmove released there HPI this morning, with it down -2.4%.

Is it me or are there literally hardly any reports on this?

http://www.rightmove.co.uk/news/house-price-index/november-2013

http://www.rightmove.co.uk/news/files/2013/11/november-2013.pdf

Apart from Reuters, the only MSM that Joe public would read are....

http://www.theguardian.com/business/2013/nov/18/rightmove-reports-dip-in-asking-prices

http://www.thisismoney.co.uk/money/mortgageshome/article-2509183/Property-asking-prices-rising-fastest-rate-years--Rightmove.html?ito=feeds-newsxml

With the Guardian using words like 'dip', and Daily Mail going with a headline that asking prices are rising at fastest rate, with the -2.4% mentioned in the article.

Surely the press have a responsibility to present the side of the argument that we shouldn't get carried away, and maybe it is over-hyped? To my mind, this clearly shows that either the writers of the articles are biased, stupid, are being lent on by their bosses who are in with the gov, or they themselves are mortgaged up to the eyeballs or have BTL?

Also, when there's a chance like this for the government to come out and say "see guys, calm down, don't rush, there's no bubble" they don't do it? (Because they want people to frenzy).

I guess I already know the answers to my own questions, but it is very disappointing that there aren't more decent journalists out there. Perhaps one day the guys writing the reports (or not writing them in today's case) will be the ones priced out.

It will be interesting to see which theme prevails at the end of today, with such an obvious bit of bear food available to be reported on. Will they spin it, will they use it to calm people down, or will they just not report it! You can bet if it was +2.4% it would be on front of Sky News, BBC websites.

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I think journos are simply innumerate - but with an innate tendency to cherry pick the better sounding numbers:

http://www.thisismoney.co.uk/money/mortgageshome/article-2509183/Property-asking-prices-rising-fastest-rate-years--Rightmove.html?ito=feeds-newsxml

Homeowners on average raised the asking price for their houses by 4 per cent in November compared to a year ago, marking the biggest annual rise since before the first stirrings of the financial crisis in 2007.

But the rise in asking prices was held back by a fall of 2.4 per cent compared to October, all but reversing the previous month's 2.8 per cent gain and marking only the third time in 2013 that there has been a monthly dip.

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2509183/Property-asking-prices-rising-fastest-rate-years--Rightmove.html#ixzz2l06IXdCt

Follow us: @MailOnline on Twitter | DailyMail on Facebook

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The process is quite simple, have prices gone up this month if yes use that figure, if not check 3 month figure and if that has gone up use that one, if that has not gone up either then use the annual figure providing it is up, if this is down as well then write a puff piece about how prices have gone up over the last five or ten years; job done. Never ever write that property prices are falling unless it is a dip or stumble or due to bad / good weather.

Haha! It's funny cos it's true.

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I think journos are simply innumerate - but with an innate tendency to cherry pick the better sounding numbers:

The thing to remember is that all of the HPI stats (except LR) are produced by VI's and there are plenty of ways to spin them as a positive.

The journos are generally under time pressure so they'll have a tendency to simply copy whatever headline is in the press release.

If you writing the press release and the monthly numbers are bad concentrate on quarterly or annual figures instead. If the seasonally adjusted figures are bad maybe the non-adjusted figures can be used instead. If there really is no good news then describe the figures as "a blip" or "a pause" and delay the release until later in the day thus ensuring any reporting is minimised.

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