Housing market

UK house prices rose by 0.6% in February, a 9.4% increase on the same month in 2013, according to Nationwide Building Society.

It is "not unreasonable" for investors to anticipate a 2% base rate as early as 2016, but increasing rates is still considered a last resort to tame the housing market, according to Bank of England policymaker David Miles.

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Mutuals and building societies have doubled their net mortgage lending over the last year, figures from the Building Societies Association (BSA) show.

There is a 77% chance UK houses are over-valued, an economist has warned, as the threat of a bubble looms.

The mortgage market is experiencing "strong upwards momentum" and gross lending may top £200bn for the first time in seven years in 2015, but there is little evidence of a housing boom developing, according to the Council of Mortgage Lenders (CML).

The mortgage aspect of the Funding for Lending Scheme (FLS) is to be discontinued in light of improved market conditions.

The Welsh government has announced it will launch its £170m Help to Buy equity loan scheme in January.

The UK economy is heading in the right direction but there are a "number of years to go" before a full-blown recovery can be called, Bank of England (BoE) chief economist Spencer Dale has said.