Lloyds investors betting on property rise

Lloyds Banking Group investors are betting that UK house prices will continue to rise across the country as the economy recovers.

The Treasury yesterday sold £3.2bn (€3.8bn) of shares in Lloyds, Britain’s biggest mortgage lender, leaving the government with a profit of £61m.

The sale was about three times oversubscribed, according to a person with knowledge of the sale who asked not to be identified because the information hasn’t been disclosed.