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| Version 1 | Version 2 |
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| Brown's housing market confidence | |
| (about 2 hours later) | |
| The UK's property market is likely to recover quicker than those elsewhere because too few properties have been built recently, Gordon Brown has said. | The UK's property market is likely to recover quicker than those elsewhere because too few properties have been built recently, Gordon Brown has said. |
| The prime minister told a City audience the US and Spain had "overbuilt" homes during the years of rising prices. | The prime minister told a City audience the US and Spain had "overbuilt" homes during the years of rising prices. |
| In contrast the UK had "pent-up demand" because not enough had been built. | In contrast the UK had "pent-up demand" because not enough had been built. |
| He said the UK problem was not shortage of demand for homes at "the right prices" but a shortage of mortgages "at the right prices for people to buy". | He said the UK problem was not shortage of demand for homes at "the right prices" but a shortage of mortgages "at the right prices for people to buy". |
| Mr Brown was speaking during a question and answer session at Reuters in London after a speech focusing on the £37bn bank rescue plans unveiled earlier on Monday. | Mr Brown was speaking during a question and answer session at Reuters in London after a speech focusing on the £37bn bank rescue plans unveiled earlier on Monday. |
| Spain and US | |
| The plan - which also includes guarantees of inter-bank lending - is designed to restore financial stability and to encourage banks to resume more lending to business and to people who want mortgages. | The plan - which also includes guarantees of inter-bank lending - is designed to restore financial stability and to encourage banks to resume more lending to business and to people who want mortgages. |
| Property prices have fallen from record highs over the past 12 months in the UK and in other countries, most notably in the US and Spain. | Property prices have fallen from record highs over the past 12 months in the UK and in other countries, most notably in the US and Spain. |
| Mr Brown's government had been seeking to increase the numbers of homes being built in recent years, amid concerns it was failing to match the growing demand caused by population growth and changing family trends. | Mr Brown's government had been seeking to increase the numbers of homes being built in recent years, amid concerns it was failing to match the growing demand caused by population growth and changing family trends. |
| The government wants RBS and Lloyds TSB to boost loans to house buyers and small businesses as a condition of its injection of £37bn. | The government wants RBS and Lloyds TSB to boost loans to house buyers and small businesses as a condition of its injection of £37bn. |
| But the Council of Mortgage Lenders said the government's plan for major banks to return lending to 2007 levels was "not prudent or desirable". | |
| The plan would not fit with the picture of falling house prices and low demand, the CML said. |