A home is a basic necessity and ought to be affordable. I'm sure there are lots of factors in this. It seems the rich often invest in property, so they will reduce what is available to buy. Let's see what the government do about that. They may worry about upsetting the rich, but they are a minority of voters. Yes, I know those who already own something will hate to see the value go down, but it's unsustainable.
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I think the easiest way is just to build more houses... the market will sort out the rest!