Construction News

12/06/2014

Call To Stop Housing Boom Getting Out Of Control - Cable

Business Secretary Vince Cable has said that action must be taken to stop the housing boom from getting "out of control".

Speaking to the BBC, Mr Cable raised concerns over some banks lending mortgage applicant's up to five times their income, saying that the desires of new homeowners needed to be weighted against the stability of the economy.

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Recent figures from the Office for National Statistics (ONS), show that house prices across the UK are rising, with Mr Cable saying the "immediate problem" is to stop the "housing boom" from getting out of control.

(MH/JP)

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