If such trends continue, prices will near the half a million mark in London by 2012, from the current average of \u00c2\u00a3318,864.<\/p>\n
Even in regions traditionally regarded as cheaper – such as the North West and Yorkshire – average prices will break through the \u00c2\u00a3200,000 level.<\/p>\n
“Our report shows that continuing house price rises and the resulting housing crisis are set to stay with us for a long time,” said NHF chief executive David Orr.<\/p>\n
And while homeowners may view the surge in prices as good news, Mr Orr did warn they carried a “sting in the tail”.<\/p>\n
“A growing number of parents will find themselves subsidising their sons’ and daughters’ mortgages,” he said.<\/p>\n
“And, across the country, more and more people are going to find themselves priced out of the property market – a decent home.”<\/p>\n
In order to tackle the problem the government must press ahead as soon as possible with its plans to build more homes – and make sure an additional 70,000 social homes are built each year, the NHF report added.<\/p>\n
The government has vowed to act to tackle the country’s property problems with the publication of the Housing Green Paper last month.<\/p>\n
Among the proposals were plans for more than 70,000 affordable homes a year to be built by 2010\/11.<\/p>\n
The building drive aims to tackle housing supply problems – local government figures show there is demand each year for 210,000 homes, but only 165,000 are being built.<\/p>\n","protected":false},"excerpt":{"rendered":"
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