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Smiley George

BBC - HPI ramping service in operation today

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As I've said before, the BBC is nothing but State Controlled Media...  and think we all know how the ''State'' feels about HPI don't we.

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7 minutes ago, nome said:

As I've said before, the BBC is nothing but State Controlled Media...  and think we all know how the ''State'' feels about HPI don't we.

It annoys me when people think they are keeping up with politics by watching newsnight. Spoon fed agendas

Edited by UnconventionalWisdom

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To be fair they are reporting facts house prices are rising still except in london (despite what many believe). The brexit quote about london falls is clearly in speech marks and therefore commentary added by the PWC source. Really they should have been discussing the big increases in wales and scotland more if we really wanted ballence from the PWC dude.

Really they are just reporting on a report the ONS/land registry statistics seem the most reliable so not a huge issue with them. I suspect we are at a 2004 pause before further rises later on so not expecting big falls either. certainly in my hometown in the SW there is very little supply only bonkers listings pricewise which are not serious sellers.

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Fair point, in this case it may simply be a report on the facts, although they still choose to not delve into the figures further, for instance the SDLT changes in Wales which brought forward purchases of higher priced properties and skewed the average sold price upward.

 

My issue with the BBC is that not once whenever the 'housing crisis' has been discussed have I ever heard a representative from the organisation or any of their chosen commentators in any way countenance a fall in prices or even at least acknowledge that current prices are a result of huge levels of govt/Central Bank intervention to prop up the market and keep the bubble inflated. 

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7 hours ago, Pebbles said:

To be fair they are reporting facts house prices are rising still except in london (despite what many believe). The brexit quote about london falls is clearly in speech marks and therefore commentary added by the PWC source. Really they should have been discussing the big increases in wales and scotland more if we really wanted ballence from the PWC dude.

Really they are just reporting on a report the ONS/land registry statistics seem the most reliable so not a huge issue with them. I suspect we are at a 2004 pause before further rises later on so not expecting big falls either. certainly in my hometown in the SW there is very little supply only bonkers listings pricewise which are not serious sellers.

The clickbait style leading headline "where are house prices rising the fastest" to me implies at a glance that they are rising everywhere which is not the case.

In fact on a monthly basis, they are falling, in some regions, south west -0.4% east of England -1.1% London -0.5%. 

Too much to expect any decent analysis from the BBC.

I hope that you are wrong about a 2004 style pause before further rises, though who can say what form of insanity comes next to keep the plates spinning.

These figures are a picture of the scene some months ago, and the price would have been agreed months before that... Anecdotally sentiment seems to have further turned since then, and FTB properties available are at a 2 year high.

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Just now, Queasing said:

The clickbait style leading headline "where are house prices rising the fastest" to me implies at a glance that they are rising everywhere which is not the case.

In fact on a monthly basis, they are falling, in some regions, south west -0.4% east of England -1.1% London -0.5%. 

Too much to expect any decent analysis from the BBC.

I hope that you are wrong about a 2004 style pause before further rises, though who can say what form of insanity comes next to keep the plates spinning.

These figures are a picture of the scene some months ago, and the price would have been agreed months before that... Anecdotally sentiment seems to have further turned since then, and FTB properties available are at a 2 year high.

* Correction - anecdote applies to the area which I am monitoring

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Anecdotal: Got talking to a chap who worked at the BBC recently. He said he couldn't believe how many of the top brass are brazenly Tory.

I think the whole system is a feeder for our ruling class.

Only 7% of children in the UK attend a private school but Private schools (convenient charities) -> Top universities -> Nepotism internships -> Graduate jobs via old boys network -> Continue to pay back favours throughout career -> Middle aged cushy and pulling strings for political leaning. 

 

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10 hours ago, nome said:

Fair point, in this case it may simply be a report on the facts, although they still choose to not delve into the figures further, for instance the SDLT changes in Wales which brought forward purchases of higher priced properties and skewed the average sold price upward.

 

My issue with the BBC is that not once whenever the 'housing crisis' has been discussed have I ever heard a representative from the organisation or any of their chosen commentators in any way countenance a fall in prices or even at least acknowledge that current prices are a result of huge levels of govt/Central Bank intervention to prop up the market and keep the bubble inflated. 

I absolutely agree on this

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9 hours ago, Queasing said:

... Anecdotally sentiment seems to have further turned since then, and FTB properties available are at a 2 year high.

This would also skew averages upwards.

Boomers buying with cash will usually buy houses priced higher than average and have not seen a reduction in ability to pay

FTBs [restricted by insecurity over brexit and mortgage rules] and BTLers [restricted by s24 and mortgage rules] will both have seen a reduction in numbers so less [cheaper] FTB houses are sold.

This could easily continue to skew the numbers so like-for-like prices of a specific house-m2-location is way down but aveage is still flat/up.

Shame that LR does not record per-m2 price by location as other countries do. EPC has a m2 figure and whilst not consistent/adequate, would give some idea. Making rigourous rules for m2 calculation [need to specify which rooms count, min height etc] on the EPC would make decent data possible within 5-10 years and give EPC at least some value.

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11 hours ago, nome said:

 

My issue with the BBC is that not once whenever the 'housing crisis' has been discussed have I ever heard a representative from the organisation or any of their chosen commentators in any way countenance a fall in prices or even at least acknowledge that current prices are a result of huge levels of govt/Central Bank intervention to prop up the market and keep the bubble inflated. 

That should amaze me too alongside the ultra low IR influence being ignored bit I'm too cynical...sorry analytical.

But they say never blame on a conspiracy that you can on incompetence....or more likely a vested interest produced a biased press release and someone merely copy and pasted it and presented it as journalism.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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