Barker says MPC surprised by house price jump

Bank of England Monetary Policy Committee member Kate Barker told the Daily Telegraph the recent jump in UK house prices has surprised the MPC.

"House prices are rising faster than earnings, and I have to say that's a surprise," she said in a preview of an interview published on the newspaper's website.

"In the very long run, it is difficult to think of house price growth being perpetually above earnings, unless there's something else going on, like a constraint on supply."

Barker also said that

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