Saturday, March 29, 2008

FT reckons HPI is +1.7% not +1.1%?

House prices continue to fall in UK

+1.7% yoy HPI according to the front page of the FT, read the hard copy this morning and couldn't believe they were quoting the wrong figures. NW March report clearly quotes +1.1% yoy. What going on with the standard of journalism in this country? Authors; Chris Giles and Delphine Strauss. Anyone know how to email and complain....it's the front page FFS!

Posted by geed @ 04:13 PM (1543 views)
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9 thoughts on “FT reckons HPI is +1.7% not +1.1%?

  • Delphine Strauss is a joke!
    google her you will find a few video clips
    she is totally absent minded

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  • If they do raise interest rates in April, the Bank of England will have a lot of explaining to do regarding their remit. Falling house prices (asset price targeting) was what created the problem in the first place.

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  • paul, you mean if they do *drop* interest rates in April …

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  • Paul. I’d love them to raise interest rates in April, but I don’t think they will. They will lower them, devalue the pound, increase imported and factory gate prices and let inflation go, just like the US. Then when their mates in the city have refurbished their penthouses and bought a couple more yachts, they will remember their remit and raise, raise, raise. Anyway, lowering rates is a pointless excersie, seen by anyone who gives a damn about the UK economy as the bailout it is, because the banks aren’t lowering borrowing costs, just saving rates. Everyones a winner, NOT.

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  • Bystander
    ”because the banks aren’t lowering borrowing costs, just saving rates”

    Too right. I just opened a Northern Rock savings a/c yesterday at 6.25% variable which I thought should stay the same till the next B of E drop. Before my money transfer was completed I noticed this am that they are dropping the rate to 6% in April. I suppose it will go down another .25% after the next MPC decision.

    Apparently, they can do just what they like to relieve you of your dosh.

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  • uncle chris says:

    Good spot p.doff – so much for the rate being matched to BoE rates – misleading statements by NR sadly. I think I shall postpone the transfer I had pencilled in for next week and phone the customer services to ask why they have dropped the rate with no BoE movement. This is no way to build customer confidence.

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  • NR have to cut rates to make themselves uncompetitive

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  • Perhaps you should complain to your local MP regarding Northern Rock interest rates (he says with a wry smile).

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  • Yup they can do what they like. I bought 5k’s worth of Kruegerrands last week and it’s frightening to look at what five thousand pounds feels like in gold. With GBP lossing so much against the EUR, our huge debt budget and reliance on Financial Services and Credit, I can’t think of a safer way to protect my savings – I will be buying more. Just hope the Govt don’t make it illegal to hold it in the future, as did happen in the US!

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