18 September 2013 Last updated at 06:54 ET
The Chancellor is 'alert to the risks' of a boom in house prices
Chancellor of the Exchequer George Osborne has denied that the UK housing market is overheating.
Answering questions at the annual meeting of the Institute of Directors he said: "Let's not pretend there's a housing boom".
The chancellor pointed out that housing sales and mortgage approvals are still well below the boom years.
In August, UK house prices rose at the fastest rate since June 2010, according to the latest survey by the Halifax.
The chancellor said that he, along with the Bank of England, are "alert to the risks" of a housing boom.
Source: BBC News - Business http://www.bbc.co.uk/news/business-24144844#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
