Prices of Houses Sold - Media Reporting

publication date: Sep 6, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Prices of Houses Sold - Media Reporting

House Property Prices

July and August data shows that trying to report on the property market purely covering property prices is pointless. As with any market analysis, it's often the volume figure that is far more interesting.

For example, property sales' volumes started to fall in September 2007, for the Land Registry property price falls weren't recorded until NINE MONTHS later, in June 2008. Over those nine months, the number of properties sold fell by 49%, from 100,000 properties per month to just over 50,000.

Kate Faulkner, a top UK property market commentator says "The media - and many property surveys - always headline with property prices. If you are interested in what's happening in the property market, check out volume first, then look at the impact it has had on house prices." Kate warns "If the media and property commentators continue to concentrate on price alone they will (and do) mislead your average buyer and seller in the street about what's happening. This in turn makes it confusing and unnecessarily stressful for people to make one of the biggest financial decisions of their life". Kate concludes "It's about time the media woke up to getting people who understand the market to talk and report on it, rather than reading out a press release headline which rarely matches what the data actually reports!"  

READ MORE for Kate's latest summary on the property market.

Want to know what's happening to LOCAL HOUSE PRICES in your area, ignore the headlines, let Kate help you work it out for yourself READ MORE.

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