Osborne 'close eye' on house prices

Press Association
Updated
Library file photo dated 28/02/14 of for Sale signs displayed outside houses in Finsbury Park, North London. House prices lifted by 9.4% year on year in February as consumer confidence continues to grow, Nationwide has reported. PRESS ASSOCIATION Photo. Issue date: Friday February 28, 2014. See PA story ECONOMY House. Photo credit should read: Yui Mok/PA Wire

%VIRTUAL-SkimlinksPromo%Chancellor George Osborne has spoken of the need to be "vigilant" about increases in housing prices, but insisted that fears of a bubble should not get in the way of giving older people more flexibility on how they deal with their pensions.

Mr Osborne's Budget decision to lift the requirement for OAPs to use their pension pot to buy an annuity sparked warnings that many would chose to invest the cash in buy-to-let property, driving prices up and freezing younger people out of the market.

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