Housing market risks rising, but smaller than in 2014: BoE's Cunliffe
[LONDON] The risks in the housing market are rising but remain smaller than in 2014, Bank of England Deputy Governor Jon Cunliffe said on Wednesday.
He also said the growth of the rapidly growing so-called "buy-to-let" rental property sector potentially poses a financial stability risk.
The Bank of England has asked the government for the power to intervene in the sector, which is likely to be approved. A public consultation on the matter will continue until March 11.
"The risks are a bit less now than they were in 2014 but you can see the market starting to move back again," Cunliffe told a parliamentary committee. "The market is now coming back again so maybe some of those risks are becoming a little bit more prominent."
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans
China national fined S$45,000 for having Singaporeans front plan to buy East Coast houses
Condo rents inch up after 7-month decline; volumes recover: SRX, 99.co