HBOS chief soothes on house prices

12 April 2012

THE country's largest mortgage lender, HBOS, has dismissed fears of a collapse in the housing market. The group, which owns Halifax, said it expected the market to remain strong.

'Housing affordability is nowhere close to being stretched,' chief executive James Crosby told a banking and insurance conference in London. His statement comes days after Halifax reported a 4.3% increase in house prices last month, taking the annual rise to more than 24%.

Crosby also said that while general market conditions remain tough, he continued to see good opportunities for the group.

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