This report goes to show what is happening in the real world. The
government keep telling us that we now have more money in our back pockets than ever before! Gordon Brown read the report and
take note. We now have less money in our pockets, as a good chunk goes to government and the rest on mortgage bills. Bear in
mind Gordon has just received a 37% pay rise!!!

Mark, Redditch,

Bring back Maggie Thatcher. She sorted out the house prices in 1989.

Paul Francis, Brisbane, Australia

When I started work in 1969, my salary was £12.50 a week, and I had little prospect of buying anything in London for years. To cap that, the rent acts were still in force that gave security of tenure to tenants and made rented property almost impossible to find. Even if you had an income that might be sufficient to obtain you a mortgage based on a maximum 2.5 times salary, that was no guarantee that a building society (the only source of mortgages then) would give you one. You had to jump through hoops of fire - have excellent references, have been employed for years, etc., Now almost anyone can get a mortgage. Lenders are falling over themselves to create new types of mortgage - 120% mortgages, interest-free mortgages, non-status mortgages - and there is no shortage of rented accomodation. People are so much better-off today that frankly it's irritating to read how badly-off they are.

Martin Saville, London,

Why is housing unaffordability linked to higher interest rates in this article? Higher interest rates are NOT the problem: nearly a decade of unrestrained property speculation and highly restrained supply are responsible for this mess. The price of housing is the problem, not the interest rate charged on the mortgage. Even if interest rates were at 2% (i.e. zero), it would only encourage more speculation and ultimately lead to more unaffordability. If the BoE decides to continue raising interest rates, it will only be for the ultimate benefit of the economy and dampen inflationary pressures so we should welcome that.

House prices are not relevant to interest-rate setting as housing does not feature as a cost in CPI measures (controversially). If housing were relevant to CPI and measured in it, interest rates would be a lot higher than they are now.

MB, Edinburgh,

Before the Government abandons the Green Belt policy in favour of field of houses I would suggest that they all visit the Los Angeles basin.

If you want wall to wall house that stretch 100 miles N/S and 100 miles E/W with no parks , green space farms , animals and complete desolation go ahead.

The south has as great a density of population as the LA basin but because of the green belt there is still the feeling of country and children can see the mix that makes up life.

As for the LA basin a disaster with no planning at all.

Of course those in the know will make loads of dough as they will be ablr to buy up land that will be released so that the rich can get richer and the poor will be able to buy a small room and kitchen for exorbitant prices.

alex hogg, san diego, us

Here's an idea. Rent for a few years and save the money for a deposit. Shocking I know but it's what I did and I left University owing more than 20,000 pounds.
The problem seems to be that people want it all and they want it now. Try working hard and saving. It works.
Of course desireable areas cost more and are unaffordable to graduates. That's supply and demand for you. The people who are moving there have been working for a good few years and moving out of the less desireable areas. The concept of the housing ladder perhaps? Why do people at the bottom of the housing ladder whinge that they don't have a right to skip the first few rungs?
I live in Thames Valley, it's expensive. I have 2 jobs (60 hours a week in total) but a lovely home and young family. I am working for it.
OK I can't afford to go clubbing every night or a decent car or holiday, but as much as people seem to want, you can't have everything.

Fed up with want it all now society, Thames Valley,

As a current first-time buyer I find it frustrating in estate agents to see a nice looking affordable property, only to be told that it is a retirement property and that you have to 55+ to buy. Round our way (Lytham St Annes) all the pensioners are loaded so dont need cheap housing, yet more and more of it is being built. Why not have a comparable scheme for first time buyers?

djfilmer, Lytham,

The stamp duty cost is "de facto" paid by the seller, not the buyer. If people knew just a tiny tiny bit of economics...
But I guess it is politically correct to blame taxes for rising prices (oh my my!! I blame the poor level of the country education)

Michele, Richmond,

"right to own" should apply to tenants in buy-to-lets too

Michele, Richmond,

Has the government not got it yet ? The house prices are going to continue to rise and houses will be in short supply because of those "greedy" buy to let merchants. I am not against people having a holiday home but people buying up housing stock should be taxed heavily. Morally it is wrong (but do people have morals any more ?)

Deb, Surbiton, UK

I blame the banks and the building societies.

They are too ready to lend money to those that can't afford to pay it back, and further increasing the unrealistic hopes of millions.

It is ludicrous to lend so much, and at such percentage of property values.

My parents, still living in their first ever house, (2.5 bedrooms - you can't call THAT a third bedroom...) bought in the fifties for about three grand, and now the value is nearer 350 grand. Stupid. How can any first time buyers, professionals or manula workers, who we need so dearly, afford that kind of money.

Crash please! Get real.

Pondlife, France,

Increase the tax burden on multiple home ownership, the supply of housing will increase as it becomes less financially viable, prices will fall and more people will be able to buy a property. Society will be fairer and the gap between the haves and have nots will narrow. Oh hang on, all the MP's have multiple residence, guess that won't be happening then. Who needs a coherent social policy when its all about looking after yourself. A missed opportunity for someone here I think.

Simon, London, UK

This is just free market economics. In a word - tough. If people want something, then work HARD for it - oh, but of course that means sacrifices, doesn't it...not something today's youth can probably spell, let alone understand...

Steve, Solihull, UK

Supply is inelastic, but prices have been driven by cheap credit not short suppy (irrespective of what our housing minister says).

There is no more cheap money, the bubble will burst. This is reality, and there is nothing new labour can do. The affluence their policies have "created" is based on a credit bubble; it will be sad to watch it all unwind.

paul , london,

Sorry, this is news? This has been reported for a long time in other media. Why this story now? It has been the case for a long time. It is a situation that has been growing over a long period. Is it the guilt of this paper that has so long been a cheerleader for the ridiculous housing bubble?

Mark, Xi'an, China

This is a consequence of the Labour Government's attack on Pensions wherby individuals put their money into property instead.
What on earth did they think would happen?
They certainly did not think the issues through and that clearly relates to the competence with which we are governed.

Anton Muller, Wakefield,

We moved out of th UK in April partly because to move to an area where we had some chance for our kids to get educated and not have to be scared of leaving the house alone was going to cost us £300,000 in N. London and that's outside the A406.
One thing which really make me sad is this promise that government employees and poorer families will be prioritised for affordable houses, just build more houses and sell them for the price they cost to build even at 50% margins you're looking at £100,000. If you have ever flown over England you know there is plenty of land to build on the government just isn't strong enough willed to act.
A waste of 17 years Tony.

Jon Scott , Tokyo, Japan

What's the problem?

If housing is overpriced, don't buy it!

If its cheaper to rent JUST RENT. Invest the difference in the stock market where the long term historical growth rate is significantly higher than property anyway. It means that you have to manage your own money, but it also makes you financially independent.

The persistent dual complaint of first time buyers: "housing is overpriced / I want to buy" is moronic. If it's overpriced you don't want to buy, or at least you shouldn't if you have any sense!

John Draper, newcastle,

The cost of housing has very little to do with the supply of housing or infact the stamp duty put on by the Government. Its really simple and down to the amount of money people can borrow. The more easily money is available to be spent the more money that is spent. Whether its buying cars, clothes, holidays or houses. Just look at the government, its spent a teriffic amount of money of Public services and what has happened? Wage inflation and increased costs in those services.

David, Reading, Berkshire

Average pay is NOT £26,000.it is 40% less than that after tax and Nhs,from which travelling to work must also
be considered.
Resulting in a purchasing power of nearer to £10,000 per annum.

derek bevan, Hunts/Cambs, England/UK

Our society is developing into a new form of feudalism - soon, the property-owning class will have rights unknown to those who are unlucky enough to have been born too late.

John F, London,

The cost for previous generations was shocking. They had to go to war. We can't afford a house.

neil, waterford , ireland

Stamp Duty should be abolished immediately as it is just another form of stealing from hard working people. What is particularly disgusting is how it changes at 250k but you have to pay the increase on the full amount and not just the additional over 250k. Another problem house buyers face is the unfair English housing law which allows people to back out of deals even when prices have been agreed therefore having paid survey fees for nothing.

George, Glasgow, UK

Grant 1234 Shapps, the Shadow Housing Minister, said: “Despite all Gordon Brown’s rhetoric, it is now more difficult than ever to get on the housing ladder."

It is not "more difficult than ever"; simply nearly as difficult is it was in 1990 under the Major government.

Alan, Bristol,

I don't follow the argument on stamp duty. I would argue for a considerable increase of it. Why? It makes house speculation and short-term buying and selling more risky, because you would have to recoup the transaction costs. With non-existing stamp duty, or stamp duty of just 1-2%, buying a house as an investment and sell it on after just one year is basically risk free: if the value goes up with a tiny bit, you are making a profit. Not so with a 10% stamp duty. An added advantage would be that you discourage people from moving all the time. The 'property ladder' concept basically means distorting community life, because people do not stay in the same street/area for a very long time. First time buyers could then be given a stamp duty discount. Full stamp duty will the apply to investors, ect.

Steven, Birmingham,

"Graduates still covering some student debt are being priced into areas which are either unsafe or entirely undesireable as they strive to achieve their personal goal of home ownership."

I think I speak for all graduates when I say I had personally planned to move straight out of my student house into my own villa in Chelsea. There are plenty of signs of a crash on its way. Even plenty of London prices fell last month. Having already lived in Germany, despite not yet graduating, I'm happy to rent until the situation improves. And it will. Luisa's silly comment shows the problem - it's mass hysteria, not sensible economics. If it was really immigrants (many of whom are now heading back home, it seems) and the lack of supply, rents would be much higher than they are.

the magic monkey, London,

The UK has experienced huge inflation in the form of property price rises.This has not been calculated into the official inflation figures, falsey indicating a healthy economy. False wealth in the form of re-mortgaged properties has fueled glutenous consumption by homeowners.

The UK subprime market is half the size of the american subprime market. But as a proportion of the UK economy, THIS IS HUGE. The current interest rate hikes are necessary. Expect a large proportion of the sub primers to fold bringing the house of cards down with them.

ryan, zuich, aargau

I've been saying this for years...One factor in house price inflation is Banks need for ever larger profits...5 years ago you could borrow 3.5 xsalary. Now you can borrow 6 x salary...House prices have doubled in 5 years...Banks Net profits have doubled in 5 years....It's not rocket science!!

Tom, London, london

Housing has followed a classic asset bubble cycle since 95/96 fuelled by cheap money, rediculous mortgage lending and a media obsession of pushing property as a get rich quick scheme.

The cheap money is over and most people who fell for the BTL/property developer lie peddled by numerous TV programmes, have discovered it's far from easy money and are trying to sell before the inevitable crash this Autumn.

James MacRae, London, UK

I have the complete answer for you and it's the one you have been waiting for VOTE LABOUR - again!

Victor M., Malaga, Spain

If you think the US is having a hard time just wait and see what will happen in the UK. Our finances are in much a much worse state thanks to buy now pay later Brown. Brown is about to find out that his once lauded economy based on financial services and media is useless in a recession. All these people who have been pushed into buying property by greedy immoral estate agents saying "if you don't buy now you never will" are going to get hammered. As for "house prices only go up", ask someone who bought in Tokyo in 1987 what they think of that. With China exporting inflation and cost of basics going up, many people are going to be forced into bankruptcy. No more boom and bust shows that Brown has no understanding of real economics and cyclical prices. Maintaining a fake credit fueled boom is about to lead to a real drawn out bust.

Ed, London,

How is it that in the USA were they make more money, their homes are half the cost? I would say to anyone with an option to stay out of the UK and Ireland. What you gain in more pay, you lose in extremely poorly built housing.

Nick , Dublin, Ireland

Yet another reason to leave an overcrowded, overpriced island in social and economic decline.

JL, Paris, France

"two million more homes by 2016". Is this a joke? I don't need a home in 2016, I need it NOW. For those that think that Gordon Brown will do something about it, abandon all your hopes. Why? Simple: He has been there for the last 9 years; he is the one that made all of it, what makes you think he will change anything now? What is causing the housing overpricing is speculation, not the amount of people living here. The market is in the hands of a real state, builders and bankers mafia, in collusion with the State that keep zoning red tape in place. They are the only ones making money with all of this, they are all so happy. If the market collapses as a correction, London and the UK will submerge in dust.

Fabio C, London, UK

There it is again - that phrase - 'the housing ladder' - but of course ladders can go down as well as up and that is what has happened in America and Spain and etc and will happen here as sure as 'eggs are eggs' ( to use another hackneyed phrase) as soon as people face reality.

Diddly Do, Liverpool,

The build more Houses is the same logic is the same as the build more roads logic. Highways become blocked by cars with one driver. Countryside filled with homes with single poeple.

Peter Edwards, Oswestry, UK

Surely if you reduce stamp duty then prices will go up further? Its already very low for most of the UK. Compare it say to other countries like france where stamp duty on any property older than 2years is 7%. Basically you add 10% to the property after estate agent fees. So in general the UK has low duties. No easy solutions.

Richard, Strasbourg, France

House Price Inflation The greastest scam, the most eloborate pyramid selling scheme in world history, brought to you be the corrupt fractional reserve banking system, paper money that appears from nowhere to enslave millions in debts they will never repay The sheeple believe house price inflation is being driven by supply and demand and sell themselves into a life of sefrdom and debt slavery, borrowing 6 times their salary for an interest only mortgage, all to live in a 1 bed flat above a crack den. The reality is, house prices have been driven to stratospherically high levels by the availability of cheap credit All connection between price and value has been lost amidst the incessant property pornography that fills the TV schedules and the media. Nevermind eh! Just keep on borrowing even more money. Just remember that even though the money isn't real, the debt it creates most certainly is. GIVE THE PEOPLE REAL MONEY! This is what will stop this debt based insanity

Matt Myers, Redhill, Surrey

It is difficult to understand how just building more houses is going to help prices, as so much of the price is based on actual costs. These are not responsive to supply and demand factors - such as stamp duty, HIPS, land purchase and labour. On top of this we require builders to provide affordable housing, pay for road and other section 106 improvements - all these costs are added to the price of new houses. Government should at least take out the costs it has imposed on builders to bring prices down and reinstate a proper programme for council houses.

Peter York, Tonbridge, Kent

The results of recent surveys show Finland has the lowest house prices and rate of price inflation in the Eurozone - the UK is 3rd. In a separate survey into the competitiveness of national economies guess which came out top, yes you guessed - Finland. (UK not even in top10) There is something horribly wrong here - economically the UK has little other than financial services to fall back on, wealthy individuals have essentially pushed up house prices against the rest of us, the very same people like global capital can and will take flight at any moment. The high cost overheads of housing is pushing the economy increasingly over the edge - and when that happens wealthy individuals and financial markets will be gone. Labour have sadly let us down in this spiralling game of brinkmanship.

Nicholas Bromley, Bromley,

Greed drives the market! It is no good the older generation lamenting the cost for younger/poorer buyers - sell your houses to us for less!

John Moore, Northampton,

How about putting an end to buy-to-let? That should free up a considerable amount of properties.

Susanne, Bristol,

This is one of the biggest asset price ramping scams in History. Gordon Brown has been complicit with the banks, developers and estate agents in driving up prices for their benefit via rising stamp duty, inheritance tax, remortgaging to keep the economy afloat, investing to try and provide a pension he destroyed. If there is a housing shortage, economics would say rents would have risen too. They haven't. House prices are double what they should be without this ramping scam, and rates should be allowed to rise to bring down by 50% to the benefit of everyone except the userers, politicians and get rich quick merchants. Every boom ends in bust and Gordon's is no different.

John Smith, Manchester, UK

Buying a home has never been easy. The younger generation want things too easily today. They don't want to sacrifice lifestyle, as many of us have had to do to get on the ladder, and they want to buy in prime parts of town.

As for stamp duty it is legalised crime. A duty for what? At least when you pay the Mafia you get protection. This government just takes as the overall standard of living gets worse. However, we are the fools who are stupid enough to put a Labour government in charge. It might be an idea to go and live in another country. We may get a summer, less taxation, less congestion and a better standard of living.

Paul, London,

I'm afraid the inevitable has to happen. Interest rates must rise, those that over comitted into a ridiculously high priced house market will lose, but at least we will get back to normality, and we can say good bye to the majority of but to lets as well. God bless the hard working people of this land that just want a place to call home! Still Standing.

Mario Yiannakou, London,

It could be interpreted that the country is overpopulated when compared to existing housing and infrastructure.
So a long term answer is a tax on babies and a government statement indicating an optimum population figure. This figure should take into account sustainable farming, water resources, the best education and health provision and likely employment levels. The last figure quoted by the Optimum Population Institute for the UK I believe was about 23,000,000.

T Martin, Bromley, Kent

There would be less pressure to buy if rental prices were as reasonable , as they are on the continent .

ian, Bedford,

Please tell me if I am wrong - but I think the Goverment from now on should restrict 'Buy to lets' mortgages to one per person. As surely this has kept prices going up - people who already have a home making a profit from those who can't afford to get on the ladder.

C, Southampton,

They had to do research into something that obvious?

(and Luisa, I'm miles away from London, but people can't afford to buy here either).

starling, lancaster,

The real problem is not price increases but the ratio between average income and average price.

If this ratio continues to increase, it means that Britain faces 2 nasty outcomes. Either prices will crash or more and more people will be simply unable to afford their own housing/rents – generating massive and unbearable pressure upon state housing and eventually leading to some seriously nasty social outcomes.

The Gov faces some stark choices: (A) decisive but deeply unpopular policy decisions to lower the income/prices ratio (b) do nothing and allow prices to suddenly crash causing possible recession (c) do nothing and allow a homelessness crisis to occur.

Simon Hocking, birmingham, UK

Welcome to the free market economy!
It seems the only way forward is mass building of local authority homes, the owner then is contractually restricted to keep the house for a fixed period of time or sell it back to the authority at a price linked only to inflation. For the remainder of the house life the resell price is controlled. Without legal restraints people already on the housing ladder are bound to try to get the maximum price for their property- greed has no compassion!

dalesman, leeds,

"...even higher deposits"? Is the writer on Crack? Deposits today are lower than ever, but apparently this is not good enough. Now borrow-and-spend-crazy mortgagees expect a handout from government - something for nothing. If the middle classes' standard of living exceeds their productivity, and they wish to maintain that undeserved standard of living, they have no choice but to borrow. Of course, they could reduce that standard of living...! So don't feel to sorry for the spendthrifts.

Chris. Fulker, Nantou, Taiwan, R.O.C.

Sirs, Whilst history tells us that violent revoloution leads to blood shed, the extraordinary levels of wealth polarised to the few by the success of the capitalist economy during the last decade requires an equal measure of success in the effective distribution of that wealth. As long as that wealth continues to be pocketed by the leaders of corporate organisations whom have grown with their businesses during the last 20 years or more of economic hay day, those following in their 20s, 30s and now 40s live with constantly rising costs of rented accommmodation, constantly rising costs of property to be purchased outright, and reducing take home income in real terms.

The next generation is also faced with more expensive pension provison and private health care, and generational costs such as fertility treatment required by older mothers who have perhaps been able to secure a family flat with their partner from salaries earnted from two full time jobs.

I'm British. I shan't complain

Bob, London,

The biggest problem forcing up house prices is uncontrolled immigration.
This is a small country and until the ridiculous immigration policies of the present government are reversed and immigration controlled there will be ever increasing demands on housing, health, schooling,etc.
Additionally taxes on second homes should be raised to punitive levels to make it less desirable and rrelease more homes to those who rweally need them.

Bernard, Sussex,

So which solution do you advocate.
1. Reduce house prices by price controls or building 5 million new houses anywhere?
2. Reduce proportionate prices by compulsory earnings increases only for those who at the moment cannot afford a property?
3. Restrictions on who is allowed to buy which or any property (or second property)?
4. Increase (or reverse the fall in) council housing supply?
5. Who will agree to the price/value of their property decreasing as happened in the early 1990s?
Otherwise the free market operates and prices will continue to (mostly) increase.

Joe, Basingstoke,

It does make me smile when I read that couples can't get on the property ladder. No doubt there are problems in certain areas, but when you delve deeper you see a lot of these 'couples' are complaining that they can't afford a 2-3 bedroom semi, or detached. Well maybe their expectations are too high? Maybe they should step on rung one, before jumping up to rung two or three?

Ten years ago I made a conscious decision to NOT make myself a mortgage slave, and started with a one bed flat with my girlfriend. Then, when I could afford it, we moved to a two bed house, had a couple of kids, then later moved to a larger house. I COULD have gone straight for a 3-4bed semi and crippled myself with repayments, as lots of people were doing at the time.

People need to think seriously about what they need in a home, rather than what the want. This country is obsessed with property ownership. What's the point of owning a house if you spend 15 stressful years working hard just to pay for it?

Rob, Cambridge, UK

Affordability and social gaps are exacerbated by the whammy of personal care charges for increasing numbers of elderly people. Where care is needed, inheritors lose valued means of paying for house deposits and university charges - just as the bar has been raised on these costs.

Among those without inheritance or those who lose it to care charges, the starting gate is moved back financially by an estimated 10 to 15 years - unless you live in Scotland, of course, where inheritance value remains.

steven fieldfare, cirencester, uk

The housing situation in this country is a national scandel and I remain unconvinced about Labour;s commitment to doing something about it. The facts are that there is no national consensus on building more houses and it is unlikely they ever will be. The Government will have to bulldoze over the rights of those that already own houses, who are happy to see prices continue to rise. The basics of supply and demand are keep supply tight and homeowners eventually get rich, many selling up cashing in their chips and moving to spain, France and other more desirable places then this overcrowded sorry wet and immigrant infested land . It is unlikely that the private sector will play ball in building the houses required, there is plenty of land out there already with planning permission. Why is it not being built on? The answer is very simple, builders want to sell at top prices and are sitting on the land and waiting for prices to rise is what they are doing. Don't waste your time voting.

david hambly, St Albans, UK

The key thing is the price of property itself rather than the deposit or stamp duty. Even with a decent deposit, It is only possible to buy 5x a salary which is difficult to do in London even with a half decent salary. Often, Living with relatives or borrowing from relatives or living in a cheap hovel for a few years can raise the deposit, but anything approaching a reasonable size is way past what is possible to borrow.

It is pointless arguing for drops in stamp duty. We need to increase supply and reduce demand. Increase supply by building lots of new homes, and yes, high rise homes. Reduce demand by building more public housing and bringing in taxes to discourage speculators from purchasing properties and then leaving them empty.

In a small crowded island, we need to get away from the idea of using homes largely as an investment vehicle!

Patrick, London,

why is everyone so desperate to be on the property ladder? people in europe rent forever quite happily

simon mawdsley, london,

There is only "one lot" to blame.
That is the estate agents, who "Bumped up" prices unjustly during 2000-2003.

Everyone should have a serious re-think about their home's worth, and devalue it to what it really is worth . If everyone did this, we would all be able to afford to move again. Stamp duty has now crippled the housing market, not shortage of housing.

phil cash, lincoln, lincs

Surely, houses sell for what people can afford. And there seem to be plenty of people who can afford the current prices. If the money available to the general population for house purchase falls for some reason (high unemployment or a high cost of borrowing for example) then prices will reduce. House prices have always risen and fallen periodically. Isn't this simply market forces in action - or am I missing something? Crisis? What crisis?

Tony Jones, Grantham, Lincs

This argument about house prices has been going on and on for years. If there are not enough houses, how come rents have not gone up too? All these headlines about house prices and very few people question (or blame) the central banks that have kept rates too low for too long.
I'm no economist but something smells rotten in the financial world.

Mrs A, London,

Instead of referring to plans to build 2 million more homes in the next decade by which time house prices will have doubled again the gouvernment could take immediate action and exempt first-time buyers from paying stamp duty. They could raise it slightly for second home owners to finance the deal. Seems fair to me.

Carl, London,

Due to a plethora of people, especially in the south east earning enormous salaries and the increasing foreign intrest in the capital house prices will continue to rise in the next few years. The government needs to challenged employers to pay higher starting salaries for graduates and other qualified staff. The cities leading firms make millions if not billions of pounds in profit but continue to offer graduates starting salaries of £17k-£20k while the directors are rakeing in millions. I am not saying that they dont deserve the money they are paid, but there does appear to be a culture of greed and unecessary wealth in the city. If you are going to raise student fees, graduate salaries should also rise in line to give people a chance. Employers constantly moan about the standard of their graduate inturns, maybe they should offer some incentive to attract better candidates.

Grant, London,

We do not need more homes built we need less people living here.

David Thijm, Stourbridge, UK

blame the greedy estate agents, they like to cause panic, push prices up for their % cut... they should be managed by the government

mark, chester, cheshire

If first time buyers were to act on mass and refuse to buy until prices fell by 40%, the market would crash and they would get their wish: affordable housing. The prices are only so high now because consumers have complied and paid whatever their local 'jack-the-lad' estate agent told them to.

Come on everybody for the sake of our children, unite and bring the prices down to a more reasonable level.

Gordon Callan, Shanghai, China

I bought my house 3 bedroom house with large garden front and rear, located in the country from the coucil for £24,500
That was 3.5 years ago.
The house is now worth 6 times that amount.
I've buckets of equity and I got it all for nothing.

Seems to me if your really poor you've got an opportunity to get on the ladder for cheap and make a killing.
If your middle class...well, tough luck frankly.

Phill, Wirral, UK

I bought a flat in ex-local authority house. I've noticed that spacious 3bedroom flats are occupied by 1person (or 2persons) households who are on benefits. Tory suggests helping buying them out. How wrong is it! Again, who is hard-working and has to do 9-5 job cannot get even near the opportunity of buying on your own. At the same time, others who seems physically capable and not so old enjoy walking in the park every day. Instead it would be better of relocating those with small needs (to studios/1beds) and give 3beds to families in need. This , I believe, would avoid creating a vicious circle of building new houses/flats and giving them out for nothing. Politicians should think of helping to buy those who work.

Andy, London,

As a Labour voter I would say that the housing shortage and house price inflation has been the party's main domestic policy failure. It astonishes me that house prices are not properly taken into account in official inflation figures. The other main parties are offering no solutions.
More land has to be released for building and the tax breaks for buy-to-lets should be removed. The effects of immigration and in some areas second home ownership have to be addressed. Reducing Stamp Duty would make no difference as sellers would increase their prices by the amount of tax saved

Andrew, Woking, Surrey

How about introducing some punitive taxes for thoes greedy rich people who feel they need more than 2 homes? Likewise for any property that's left empty for most of the year.

PR, Cornwall,

Instead of building more and more houses, we need to deal with the underlining cause of the demand. Immigration and more people living alone. Do we really want an entire country of urban sprawl? Building more houses will result in the same problem we have when we build wider roads - they just fill up and you are still left with gridlock.

This government has to deal with the underlying problem. Lifestyle changes are a challenge, but immigration is a no brainer! This government needs to take action - the situation is out of control.

pete finnerty, cuckfield, west sussex

A generation ago, students did not have to pay fees for higher education. All you needed was enough intelligence to be able pursue a recognised academic discipline at tertiary level.

However, the comprehensive school has now been succeeded by the comprehensive university, and the range of academic disciplines has been extended and adjusted to cater for the new intake.

The cost of this cannot possibly come out of taxation any more, and that is the reason for student debt. I believe the solution might be to introduce Formal Logic as a recommended subject at A Level, and as an essential subject for university entrance.

Edmund Burke, Kingston upon Thames, England

100 years ago must people leased or rented property. in the 1960's and 70's building societies required a 30% deposit and a record of saving with them for 5 years before they would give you a mortgage.

Over the last 15 years The availability of ludicrous amouts of credit at low cost and poor lending criteria have led to the current house price boom. As with most things in life it isn't fair but we got what we deserved.

Oliver, Bournemouth, Dorset

I'm now seeing more of my friends buying away from London to regional parts of the Uk and love the lifestyles offering a greater value for their money. I'm in the process of jobhunting and will be relocating before the house prices starts to go down.

Jim Beener, London, England

but really it is all down to expections.

You could never buy a house on your own in the 60s 70s you were expected to save for about 3 years with a partner (really save- hardly go out and put everything in the building society that you were going to borrow with.)

then you may be granted a mortgage charging 12 - 13 % rate.

It has nver been easy to get a house but people now expect it just on their own without effort.

george enock, Tunbridge Wells, uk

Most unaffordable for 17 years. I wonder what happened 17 years ago, a house price crash perhaps? About time we had another.

If you are young and looking to buy your first house don't. You can rent for far less money and save the rest. When prices come down you will be able to afford a much better place. I know that renting is not as pleasant as owning but at the moment it is worth it.

House prices are not set purely by the supply and demand of property as much of the media would have you believe but by the supply and demand of cash/debt. The latter is likely to shift dramatically as banks become more risk averse. This will lead to lower house prices. The only question is when. House price data lags and as such it is just possible that nationwide prices will have clearly started falling by the end of this year. I think it a certainty that they will be falling by May next year.

Steve, London, England

It is not just about building more houses. The net inward migration to this country keeps piling more and more upward pressure on house prices. It may not politically correct to allude to this part of the issue but ignoring it will not diminish its significance.

Rick, London, England

Think about the homeless ones around the world rather than moaning about house price, First time buyers and ladders

Brian Kelsey, Redditch, UK

"What has the labour government achieved other than further polarisation of society sectors?"

Why is this surprising to you?

Labour wants to be the leadership caste making decisions for the peasants.

The strongest card the peasant has is land and home ownership, take that away, and were reliant on our own money being taken from us and then given back as "aid".

Dominic, Manchester, UK

No one in public life dares to admit we need a house price crash. It will be ruinous for those who've overstretched themselves, but the alternative, of ever-rising prices creating a two-tier society, will be even more damaging in the long run.

Dave, London, UK

there is simply no excuse for stamp duty at 4% (or even at 1% over a certain level). gordon brown is a thief and this is only one of his scams.

jem, london, uk

For those who have the skills and are young enough to make a new start, the answer is to emigrate! Why bother fighting a losing battle? Even the young professionals who can afford to buy will end up (as this article states) paying a high proportion of their wages for the mortgage, thus suffering a diminished lefiestyle for years to come.. also, the kind of property they are likely to be able to afford will be not too luxurius to say the least, and probably in a dodgy area. As many Brits have in the past and more and more are continuing to do, the option is to leave these shores...

Jamie, Vicq, France

We desperately want to move house, which would free up a typical 'first time buyers' home, but we can't afford to make the next step up now that we have university fees to consider for our three children. Bravo the comment about pensions below! Where are we supposed to find this money in the first place?

Julie, Bradford,

And then they say we must save for a pension!

tony, birmingham, uk

Its not just first time buyers that are affected by the expense of stamp duty. The 4 percent band introduced by Gordon Brown now adds at least £20,000 of costs to the price of buying a family home in many parts of London.

Colin, London,

Buying a property anywhere near London is now almost entirely out of reach of most young professionals. Graduates still covering some student debt are being priced into areas which are either unsafe or entirely undesireable as they strive to achieve their personal goal of home ownership. With ever increasing interest rates and deposits costing 1.5 times annual take home pay, has home ownership become the provision of the super-rich rather than the achievable dream of the hard-working individual as it always was in the UK? What has the labour government achieved other than further polarisation of society sectors?

Luisa , London,

Not for long perhaps?

Pete Balchin, Solicitor , Bristol, UK

The cost for the current generation is shocking. After dealing with thousands of pounds of student fees which eventually need paying after graduation you've got the near impossible housing market to deal with.

Alex, Solihull,