The banking system is the key to recovery in the housing market, Bank of England MPC member Andrew Sentance told the British Property Federation’s housing conference. Sentance said the housing market had “begun to recover, both in terms of activity and prices,” adding “if the pressures in the banking system ease over the next couple of years, there could be scope for a much stronger recovery in the housing market, especially if interest rates remain low and monetary conditions remain as relaxed as they are at present.”
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