UK housing market is in a bubble caused by low interest rates, and idiots who can't afford to buy a house outright being ripped off badly with the shared ownership scheme.
People are asking over 100K for a 2 up, 2 down rabbit hutch, and idiots are paying it. Shared ownership properties are at least 50% over-valued. One can't wait for this bubble to burst, how low will house prices drop? 40%, 50%, 60% even more, and that is the point the sensible buyers join the market.
Anyway, nice post...