Carney outlines his tools to control any housing bubble

Bank of England governor Mark Carney has told MPs "we do need to be vigilant" on house prices after concerns that government stimulus schemes such as "Help to Buy" could create a housing bubble.

The Treasury Committee asked him about the tools he had to control prices and Dr Carney said there was a "considerable range of policy options" that would start with "more intensive supervision of mortgage lending".

He added that not all the country had seen house prices return to pre-crisis levels: "There are big pockets of the country where there has not been any meaningful recovery."