Help to Buy: Osborne asks Bank of England to keep closer watch

bbcnews

“It is no wonder that George Osborne is beginning to get twitchy and is giving the Bank of England powers to put the brakes on Help to Buy if it gets out of hand,” said Nicholas Ayre, managing director of homebuying agency Home Fusion.

“Although fears of a house price bubble are overstated, it is important not to be complacent. A bubble implies that people are buying anything at any price, and they are not, but the fear is that if demand continues to surge at the levels we are seeing, this will start to happen.”

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House price stagnation to continue, says Nationwide

Nicholas Ayre, of UK buying agents Home Fusion, said: “Interest rates and mortgages are key. If the Bank [of England] rate remains at its current level, and if lenders do not go back into their shells, 2012 could see house prices continue to stagnate rather than collapse. That is probably the best we can hope for.

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