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Brexit vote seems to be weighing on UK housing market: BoE's Woods

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Britain's housing market appears to be slowing due to the country's decision last month to leave the European Union, new Bank of England Deputy Governor Sam Woods told lawmakers during an appointment hearing on Tuesday.

[LONDON] Britain's housing market appears to be slowing due to the country's decision last month to leave the European Union, new Bank of England Deputy Governor Sam Woods told lawmakers during an appointment hearing on Tuesday.

"We are just starting to see little bits of evidence around the housing market ... all of that does seem to be consistent with a slowing of that market both in terms of pricing and expected activity," Mr Woods said, pointing to data from the Royal Institution of Chartered Surveyors, mortgage lender Halifax, and property website Rightmove.

"It seems to me quite plausible that the referendum and the uncertainty is having some effect in that market," he told the Treasury Committee, which was reviewing his appointment.

Mr Woods also said future demand for bank lending was "very uncertain" and that a weaker housing market may lower it.

REUTERS

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