Bank of England director hails shift in property bubble policy
Andrew Haldane says there is hope next property cycle will be different, and welcomes discussion on more realistic valuations
The prospect of decades of damaging property booms and busts coming to an end has been raised thanks to proactive policymakers and more realistic valuations from the real estate industry, a top Bank of England official has said.
Against the backdrop of a crash that left commercial property prices 37% below their peak, Andrew Haldane, executive director for financial stability at the Bank said there were reasons to hope the next cycle could be different.