June 26, 2014 / 10:27 AM / in 4 years

BUZZ-UK housebuilders rise on BoE Carney comments

** Housebuilders Persimmon and Barratt Developments shoot up the FTSE 100’s leaderboard as Bank of England governor says he sees more momentum in the housing market.

** Persimmon rises 5 percent, Barratt Developments gains 4.7 percent while smaller rival Taylor Wimpey advances by 4 percent.

** The Bank of England announces a cap on home loans and tougher checks on whether borrowers can repay their mortgages.

** However, Bank of England Governor Mark Carney says he expects momentum in the housing market “to continue for the next year or so.”

** Carney adds that it is not the role of the Bank of England’s Financial Policy Committee (FPC) “to control house prices nor can it adjust underlying structural issues related to the supply of home.”

** “Any lack of a real targeting of the housing market would be a positive for the housebuilders,” says Hantec Markets analyst Richard Perry.


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