Of course, back in the U.K., one method open to Carney would be to raise interest rates from their current historic low of 0.5 percent. However, he seems concerned about the potential effects on the broader economy of hitting U.K. consumers' spending powers.
One key difference between Hong Kong and the U.K. is the rise in the volume of mortgages – in Hong Kong, mortgage approvals had been rising by 15 percent when the regulator stepped in, whereas in the U.K. at the moment they are closer to 1 percent.
"The UK hasn't had a mortgage problem in the past 20 years through house price cycles. So we believe that the endeavor of the BoE will be to enforce lending discipline on asset and income parameters with some level of capital penalty thrown in to create buffers for a rainy day," Barua argued.
London's property market has a lot in common with Hong Kong, and Singapore, another property market which experienced alarming growth rates in recent years, as both city states have extremely limited potential for further development.
Read MoreLondon luxury housing market 'cooling', estate agents warn
However, Carney has to think on a grander scale than just a city.
"The problem for the U.K. is that, if you try and create policies that affect London, it's difficult to not affect the rest of the U.K.," Liam Bailey, head of residential research at Knight Frank, told CNBC.
And the success of Hong Kong's efforts have yet to be proven. The stock of new houses in worryingly low -- in 2013, just 8,500 new home sales were made, the lowest levels since records started in 1996. There are worries that, as transaction volumes pick up, prices will start falling – and analysts at Barclays have predicted a whopping 30 percent fall in prices by 2016.
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