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This Is Money: Best Spin Ever On Today's O D P M Data

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Homes take February breather

Simon Lambert, This is Money

10 April 2006

THE property market has continued to beat expectations
despite a slight February slowdown, according to official figures.
The Government's house price index, released today, showed annual house price inflation
slipped slightly
to 3.6% in February – compared to 4.3% in January. It meant that the average house price across the UK fell by £2,180 to £183,224 in February.
But rather than indicating the start of a sustained slowdown
, the figures - which lag behind other house price studies - followed the trend in revealing a
slight breather
before a March rally in prices.
Recently released reports by Nationwide and Halifax showed a surge in house prices last month with annual inflation put at 4.9% and 6.2% respectively.
Estate agents say rising prices are a combination of increased confidence and demand outstripping supply, with some firms reporting one fifth less properties on their books than usual.
However, while prices for first-time buyers continued to increase year-on-year,
the way the ODPM figures are compiled
meant the average price paid appeared to drop by more than £10,000 – from £153,633 in January

Funny that when HPI rises .01% such a "blip" is portrayed as "soaring," "surging," or "rocketing." A hefty fall is just a "slip" which suggests the object of the verb will soon pick itself up again.

These guys spin so much they must be getting dizzy :lol:

Whereas SKY paint a very different picture with the same news:



Price changes House Prices Take A Dip

Updated: 12:22, Monday April 10, 2006

House prices fell by 1.2% during February.

The news will add to speculation that the recent recovery in the property market may have run out of steam.
The average price of a property in the UK was £183,224 during the month,
from £185,404 in January, the Office of the Deputy Prime Minister said.
At the same time, the annual rate of house price growth slowed to 3.6%, compared with 4.3% in the previous month.
But the ODPM's figures are not seasonally adjusted to take into account the time of year, and it recorded a 0.5% drop in house prices during February 2005.
Economists had warned the mini revival in the housing market may be coming to an end.
That was after both the Bank of England and the British Bankers' Association reported a drop in the number of new mortgages approved during February.
"The ODPM house price data provided some tentative evidence of
moderating demand
," said the Royal Bank of Scotland's Ross Walker.
Fundamentals suggest the upside for house prices remains limited
The annual rate of
house price growth fell in half of the UK's 12 regions
during February, according to the ODPM.

You would not think they both reported the same news?

Edited by Realistbear

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Guest Winners and Losers

Rummage, rummage - oh, there it is. Just dusting off the 'I Told You So' banner to get it in prime condition to send to my BTL tax dodger friend.

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Fantastic post - and just when I was getting disappointed in the V.I. spin machine it's come up trumps.

To quote Alan Partridge's book 'needless to say - I had the last Laugh'

Not the blood spitting, it is very funny that up is down, left is right and anything in the middle is - well what ever the general public desires to hear.

It's a ball shoot at best.

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I think they are right to be cautious - don’t forget that the ODPM/LR are time-lagged (high approvals this year still lurking in the pipeline) and not seasonally corrected (adding the SA makes it a 0.48% MoM rise.)

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This is the authors biog. :blink:


Simon Lambert - specialist in mortgages and homes.

SIMON Lambert, 27, has worked at This is Money since November 2005. He previously spent three years working as a reporter on The Luton News, in the entertaining but often bizarre world of local journalism.

Simon looks after the Mortgages & Homes section but, like the rest of the team, writes for the whole of This is Money.

Originally from Harpenden, in leafy Hertfordshire, Simon now calls Finsbury Park, North London home. He likes music of all styles and genres, reading and snowboarding (but not necessarily all at the same time).

He particularly dislikes

• The huge problems people face when dealing with companies and organisations, despite their alleged commitment to customer service

• Gordon Brown's unflinching addiction to stealth tax

• Luton Town FC - his team Watford's arch rivals

He particularly likes

• Finding those gems in customer services and call centres who are actually helpful

• Companies and organisations honest enough to admit to their mistakes

• Good Italian pizza

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I remember sky showing graphics of houses as baloons.. rising and popping and falling..

That was funny.. and about 5 months ago..

Remember that Mervin King said that house prices are only a matter of opinion..

It is only so long that it can keep faltering now..


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maybe we should write to him and ask for an article on the great crash of the 90s - actually, we should start with an easier question and ask if he even knows there was a crash in the 90s

Given that he would have only been 9 when the last crash started, I imagine not.

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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