Low Rates for Steadier Property Market

Published by Bloomberg
By Jennifer Ryan on Wednesday 13 October 2010
 
Britain needs interest rates to stay low for as long as possible to help its property market become “steadier” without swings in prices that make homes unaffordable, Housing Minister Grant Shapps said.

“It’s really important that we keep interest rates low for as long as possible,” Shapps said at a conference for the homebuilding industry in London yesterday. “The biggest problem at the moment is that people can’t afford to buy your product because they can’t get the lending to get it.”

House prices plunged …

Tags: housing minister, interest rates, lending, mortgage, prices

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