FILE PHOTO: The Chief Economist of the Bank of England, Andy Haldane, listens from the audience at an event at the Bank of England in the City of London, London, Britain April 27, 2018.
REUTERS/Toby Melville/File PhotoLONDON (Reuters) - Britain’s housing market is “on fire” thanks to a combination of government incentives for buyers, more demand from households with more savings after the COVID lockdowns, and a lack of homes for sale, Bank of England Chief Economist Andy Haldane said.
“As things stand, the housing market in the UK is on fire,” Haldane said in remarks to a webinar on inequality organised by the University of Glasgow on Tuesday.
He said the recent rise in house prices - which topped 10% over the 12 months to March, according to official data - was very likely to worsen pre-existing wealth inequalities.
Andy Haldane, Toby Melville, ” Haldane
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