Business secretary Vince Cable has today warned against a "recovery based on property inflation", as new figures show the government's mortgage guarantee scheme Help to Buy has helped 750 people buy their homes already.
The state-backed mortgage guarantee scheme is intended to help thousands buy their first home, however critics warn it is helping push up house prices due to the continued lack of supply of new housing.
Sadly the housing crunch looks set to continue as this graph from Sheffield University's A Right To Build report charts, which was featured in the London Review of Books.
This spectacularly depressing graph charts how Britain's housing has got steadily more expensive as the rate of house building became steadily more sluggish.
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Barely anyone can afford to own a property
Less than one in ten properties in many parts of the UK are affordable to single house-buyers, according to the homeless charity Shelter. Meanwhile, three central London areas are completely unaffordable for couples with children or single people living on average wages: Kensington and Chelsea, Westminster and Camden
London house prices rose £50,000 in a MONTH
<a href="http://www.huffingtonpost.co.uk/2013/10/21/london-house-price_n_4134720.html" target="_blank">According to the property website Rightmove,</a> asking prices in capital have gone up to £544,232, up from £493,748 the previous month.
Renting isn't any better
As it's actually <a href="http://www.huffingtonpost.co.uk/2013/02/15/renting-home-expensive_n_2695016.html" target="_blank">£1,440-a-year more expensive than buying a house </a>
This garage was sold for £251,000
<a href="http://www.huffingtonpost.co.uk/2013/10/03/property-london-expensive_n_4030848.html" target="_blank">It's JUST a garage</a>.
This garden sold for around £120,000
<a href="http://www.huffingtonpost.co.uk/2013/10/28/uk-property-expensive_n_4169466.html" target="_blank">Fulham gardens, even if they're just a tenth of an acre</a>, sure are expensive...
Even knocking down your property is expensive...
<a href="http://www.huffingtonpost.co.uk/2013/09/30/uk-most-expensive-demolition_n_4015507.html" target="_blank">Officially the UK's most expensive demolition project, at a cost of just £35 million</a>. You could buy this <a href="http://www.huffingtonpost.co.uk/2013/09/27/kinpurnie-estate-scotland_n_4003289.html" target="_blank">Scottish estate and all its 5,500 acres of land for less. </a>
Nobel Laureates think we're in a housing bubble
Nobel Economics Laureate Robert Shiller thinks so, and he predicted the <a href="http://www.huffingtonpost.co.uk/2013/10/15/robert-shiller-nobel_n_4099702.html" target="_blank">2007 house price crash</a>.
And even world snooker champions...
Ronnie O'Sullivan says a huge housing bubble (and crash) will happen. Or in his words: <a href="http://www.huffingtonpost.co.uk/2013/10/18/ronnie-osullivan-housing-_n_4120507.html" target="_blank">"Baby it's coming."</a>
You'll only need save for 30 years to buy a home...
So says independent research commissioned by <a href="http://www.huffingtonpost.co.uk/2013/06/18/shelter-report-on-house-prices-deposits_n_3461159.html" target="_blank">Shelter </a>. That boy has already started on his first house...
You might as well move here
<a href="http://www.huffingtonpost.co.uk/2013/10/24/london-housing-cheaper-live-barcelona-commute_n_4156587.html" target="_blank">It's cheaper to commute from Spain than to live in London,</a> it'd appear