Carney: Houses drive recovery

Tim Wallace
Follow Tim

BRITAIN’S economic recovery is based on the housing boom, Mark Carney said yesterday.

“Right now in the UK as a whole the recovery is being led by the housing sector,” the Bank of England governor told the Western Mail. But he added that the market is not in a bubble, and that the Bank will be “vigilant” in watching them.

He also said growth in London alone is not enough to create a sustainable UK-wide recovery.