Uk Acts To Reduce Housing Bubble Fears

UK Oompa Loompas Louis Gelinas And Matthew Wright Sentenced For Costumed Attack

Osborne: There’s no housing boom in UK George Osborne, the U.K.’s finance minister, says that while there is cause for concern, the U.K. is not in the midst of a housing boom. “The FPC’s assessment this week – in line with that of the Chancellor and the Governor – is that recent developments in the housing market represent a broadening recovery from low levels of activity, but that we must remain vigilant as that recovery progresses,” a Treasury spokesperson said. Help to Buy assists buyers with a 5 percent deposit on properties worth up to 600,000. The government provides the buyer with a 20 percent loan. Osborne’s proposals come at a time of growing backlash against the government’s flagship housing policy, introduced earlier this year to help first time buyers get on the property ladder. U.K. house prices increased by 0.9 percent in September from August and were 5 percent higher year-on-year, according to new figures released today by Nationwide, pushing the average house price in Britain to 172,127. “There are also signs that the pickup is becoming increasingly broad-based. For the first time since 2007, all 13 U.K. regions experienced annual house price growth in the third quarter of 2013, said Robert Gardner, Nationwide’s chief economist in a statement. “However, the southern regions of England continued to see the strongest rates of growth especially London, where the annual rate of growth reached double digits in the three months to September.” By CNBC’s Arjun Kharpal: Follow him on Twitter @ArjunKharpal

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