BoE's Cunliffe warns of 'sustained and powerful pressure' on UK house prices
Deputy governor for financial stability says it would be 'dangerous' to ignore market momentum
There is "good reason" to believe that a mutually reinforcing combination of strong demand, weak supply and expectations of a rising market could lead to a period of "sustained and very powerful pressure" on house prices in the UK," Jon Cunliffe, the Bank of England's deputy governor for financial stability, warned in a speech in London yesterday.
UK house prices grew by 10% in the year to March and have returned to the levels they reached in late 2006. Growth has not been limited to London, as
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