May 28, 2014 / 7:06 AM / in 3 years

Nationwide CEO expects London housing market to cool over summer

1 Min Read

LONDON, May 28 (Reuters) - Nationwide Chief Executive Graham Beale said there are early signs that London's booming housing market is cooling and prices could fall in the summer months.

"My view is that in London we will see a natural correction in the summer months. That intense heat does seem to be dissipating a bit. We could be seeing the early signs of a natural correction," Beale told Reuters.

Bank of England officials have become more vocal about their concerns with the housing market in recent weeks, especially the risk of households taking on too much debt.

Reporting by Matt Scuffham; Editing by Huw Jones

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