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UK economic recovery ‘under threat’ from EU referendum and rocketing house prices


02-26-2016

The International Monetary Fund has singled out high house prices and the EU referendum as the main risks to the British economy

 
Christine Lagarde
Getty 
IMF boss Christine Lagarde says a Brexit would be 'negative'

Brits are in for a rocky economic year because of the EU referendum and soaring house prices, the International Monetary Fund has warned.

The global financial watchdog said the UK’s economy is growing steadily, with a jump in the number of jobs available.

But it warned the “buoyant housing market” threatens our financial system and encourages buyers to take on debt.

Its report also highlighted the uncertainty created by the EU referendum in June.

IMF boss Christine Largarde told CNN: “No economic player likes uncertainty. They don’t invest, they don’t hire, they don’t make decisions.”

A Brexit “is bound to be a negative on all fronts” she added.

The IMF report also urged Britain’s policymakers to get buy-to-let landlords under control and force them to follow the same rules as home buyers.

It comes after the Royal Institute of Chartered Surveyors said a stampede of buy-to-let landlords is pushing house prices up.

The Government also needs to do more to make sure there are new properties on the market, the IMF report said.

www.mirror.co.uk/

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