Bank of England governor Mark Carney has said he is concerned about the "potential" for a UK housing market bubble, but will tighten lending requirements if necessary.
"There is a history in the housing market of moving from stall speed to warp speed," Mr Carney said. "We want to avoid that."
Meanwhile, a survey suggested house prices will continue "surging ahead".
A separate forecast said borrowing would rise.
Mr Carney was speaking at the Economic Club of New York.
His speech came as the Royal Institution of Chartered Surveyors (Rics) found that more surveyors expected prices to rise than at any time in the last 14 years.
A separate forecast by mortgage lenders predicted that borrowing would keep increasing in 2014.
But the Council of Mortgage Lenders (CML) added an "unbridled" housing boom was "unlikely".
The last time such a clear majority of surveyors expected price rises was in September 1999
In 2012 we want to give you the A-Z of reasons why scottfraser should be your agent of choice.
In December 2010 the Health and Safety Executive released a Safety Notice to raise awareness of the potential dangers from certain types of flues connected to gas-fired central heating installations. Landlords are obliged to take action before the 31 December 2012. That’s why our G is for Gas Safety.
Where boilers are located away from external walls, flues are more likely to run through ceiling (or wall) voids. In such cases when the gas appliance is serviced or maintained it can be difficult, if not impossible, to determine whether the flue has been installed correctly or whether it is still in good condition.
Unless the gas engineer can make these checks they cannot ensure that the flue from the boiler is safe in order to comply with their legal obligations and will not be able to issue a Gas Safety Certificate.
If the flue is not inspected and a fault overlooked, dangerous levels of carbon monoxide (CO) could be released into the living accommodation. CO is a colourless, odourless, tasteless, poinsonous gas. It stops the blood from bringing oxygen to cells, tissues and organs and can kill quickly, without warning.
After 31 December 2012 the gas engineer will not carry out the inspection if hatches have not been installed.
Our in-house property managers are contacting any scottfraser landlords who have properties requiring hatch installations. If you are concerned about this update to legislation please contact our Branch Managers for impartial advice or take a look at the gas safety pages of our website.