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Eversheds comment: Short term Bank of England house market cooling measures only treat symptoms not the disease

  • United Kingdom

    17-06-2014

    Commenting on potential measures open to the Bank of England to cool the housing market, Bruce Dear, head of London real estate at Eversheds law firm, says:

    “The Bank of England has some short term palliative powers such as increasing banks’ capital holding requirements, capping mortgage to earnings ratios and the like but ultimately such measures are just short term relief – like popping aspirin for the plague. The only real solution to the housing crisis is to build hundreds of thousands of new houses. This will involve mobilising the public and private sectors to do so as part of a massive “house the nation” campaign. Anything else only treats the symptoms, not the disease.”

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