17 Jul

Media 'must take some blame' for housing troubles

Media 'must take some blame' for housing troubles

The chief executive of Firstrung has suggested that the media is partly to blame for the current problems in the housing market.

Paul Holmes supported the recent claim by Evan Davies, presenter of the Today Programme, that the press has given a false impression about the profits to be made from property in recent years.

He noted that popular home makeover programmes have given the impression that with a lick of paint and some cheap furniture, anyone can make money from property development.

"They've made people feel a sense of invulnerability where property was concerned - you couldn't go wrong," Mr Holmes added.

He also suggested that this has been exacerbated by the easy availability of credit in recent years, which has made investment in the housing market accessible to a new demographic of people.
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