iTulip High Commissioner, Select Premium Member, Canada and Persian Gulf
Mark Carney Does it Again...
Fresh off his success in a leading role creating the bubblicious inflation of Canadian urban property prices, it looks like the colonial with the "toolkit" now in charge of the BoE is going to forward guidance the mother country down the same policy path...
UK house prices have risen by 5.4% in the year to August, according to the Halifax's latest house price survey. It is the highest annual rate since June 2010.
On the Halifax's measure, the average price of a house also went through the £170,000 mark for the first time in five years.
However, the figures are still well below the peak of the market in August 2007, when the average price was almost £200,000.
The Halifax said housing market activity was up thanks to an improving economy, low interest rates, and government-backed schemes such as Help to Buy...
...The number of mortgage approvals for house purchases - an indicator of completed house sales - rose by 10% between the first and second quarters of 2013.
In July alone there were 60,600 approvals, the first time the number has exceeded 60,000 since 2008.
The rise in prices and market activity, coupled with the Help to Buy scheme, which offers a government-backed loan of up to 20% of the price of the property, have increased fears that the country could be heading for another property bubble.
But last month Mark Carney, governor of the Bank of England, said he was "acutely aware" of the risks, and had a "toolkit" of measures he could employ to combat unrestrained mortgage lending...
In the latest stark warning about the housing market, Rics – which represents surveyors and estate agents – is calling on the Bank to limit house price inflation to rein in consumers' and lenders' expectations and give a clear sign of when the Bank would use its new powers to calm the market. This week, the organisation warned that house prices are rising at their fastest rate since their 2006 peak...
Copyright iTulip, Inc. 1998 - 2016 - All Rights Reserved
Opinions expressed herein are those of the posters, not those of iTulip, Inc., its owners, or management. All material posted on this board becomes the intellectual property of the poster and iTulip, Inc., and may not be reposted in full on another website without the express written permission of iTulip, Inc. By exception, the original registered iTulip member who authored a post may repost his or her own material on other sites. Permission is hereby granted to repost brief excerpts of material from this forum on other websites provided that attribution and a link to the source is included with the reposted material.
Nothing on this website is intended or should be construed as investment advice. It is intended to be used for informational and entertainment purposes only. We reserve the right to make changes, including change in price, content, description, terms, etc. at any time without notice. By using this board you agree that you understand the risks of trading, and are solely responsible for your own investment and trading decisions. Read full legal disclaimer.
Journalists are not permitted to contact iTulip members through this forum's email and personal messaging services without written permission from iTulip, Inc. Requests for permission may be made via Contact Us.
Objectionable posts may be reported to the board administrators via Contact Us.