UK housing market +3.7% and ready for lift-off

Flicking through The Times this morning, and there are no fewer than six separate articles discussing Britain's housing market recovery.

The Halifax House Price index shows that prices nationwide are up over the past year (+3.7%).

While prices in some parts of south-eastern cities such as London and Cambridge never really stumbled, many other parts of Britain have endured a 5 year slump.

The UK's FTSE share market also jumped by 3% yesterday after the Bank of England's new Governor Mark Carney "went to extraordinary lengths to convince markets that monetary policy will remain loose."

The Bank has left UK interest rates at a rock bottom 0.5%, but markets had begun to price in rate rises in 2015.