Retail sales in the UK are at their fastest pace in 2 years.
Meanwhile, mortgage approvals are spiralling off the charts.
The British Bankers' Association reported 49,972 loans were approved for house purchase in January and increase of 57% y/y
The Government's Help to Buy Scheme has been partly responsible for driving demand.
Meanwhile, 22,972 approvals worth £3.6 billion were granted for re-mortgaging, up 51% y/y.
Mortgage approvals are at their highest rate of activity since boomtime in 2007, while prices have already leapt back to 2007 levels.
It's another property boom the UK. Make no mistake.
Futures markets are actually at long last pricing in an interest rate hike in early 2015.
When it eventually comes it will be the first time the official bank rate has been increased in Britain since 5 July 2007, when the bank rate was hiked to 5.75%.