Tuesday, April 08, 2008

Let's be reasonable

If the property market crashes the media will have a lot to answer for.

The evening standard this evening tells of a Chelsea home that has slashed its price by £250,000. Well either it was stupidly over priced or its now a bargain, on a 2.5% market price drop. The market is still 1.1% up on last year for goodness sake!

Just how much were they trying to sell this (fabulously located) Chelsea home for???

1 comment:

cardinalsin said...

What annoys me is, the inability of the press to give the whole picture. It's always a focus on some horrendous sounding factoid - which nearly always turns out not to be anything like as meaningful once you see the context. This is a good example.

Why don't we get to see a graph of house prices, when these articles are published? That would show what a meaningless tiny change this is.

But what worries me the most is the thought of going back to the bad old days, when every news website had an article on house prices somewhere on its front page. Every article was different - some said there would be a crash, some that prices would continue to rise, others said they would come to a gentle halt. But how tedious it all was! The one thing I learned from those articles is that "experts" on house prices know nothing.

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