The Bank of England has been warned that the Government’s
subsidised mortgage scheme has already started to drive up house prices due to
a shortage of properties for sale. In
its monthly agents report, its main source of economic behaviour on the ground
across the UK ,
the Bank said: “The Help to Buy scheme was said to be boosting demand in the
market for existing homes, by raising expectations of future house prices.
Buy-to-let investors had remained highly active. On the supply side, a shortage
of properties for sale was said by estate agents to be restraining transaction
volumes and to be putting upwards pressure on house prices.” House prices have
already started accelerating. Read more on the Daily Telegraph website.
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