The UK is in need of more housing and the IMF (International Monetary Fund) is calling on the country to do just that.  The IMF is launching a new website centered around housing markets on a global level and the UK is just one of the markets on the watch list.  The data monitored by the IMF is startling due to the amount of housing markets around the world which are seeing above average prices and potentially bubble-type status.

House prices around the world have increased for almost two years straight and this trend is looking to continue on the same path from many indications.  Many countries are seeing above average historical prices and this could spell danger looking at the short term, according to the IMF.

The IMF deputy managing director Min Zhu recently commented on the impact boom-bust patterns in housing markets across the globe meant for the possibility of tragedy within an economy.

Zhu said: "IMF research shows that of the nearly 50 systemic banking crises in recent decades, more than two thirds were preceded by boom-bust patterns in house prices."

He continued: "It is crucial to keep an eye on current housing market developments to keep them from going through another boom-bust cycle."

Loan to value and debt income ratios are two areas which should be controlled.  The increase of interest rates should also be used to control housing growth, according to Zhu.

Hot periods within housing markets are always marked with short demand and an abundance of buyers with more disposable income.  In order for the UK housing shortage to affect the UK in a less negative way more housing must be built, according to the IMF.