You're partly right...
...but successive governments have encouraged home ownership to grow by first allowing council tennants to buy their own accomodation and then failing to build new social housing.
(Bicycle Repairman "you're also a bit of a wanker", Tue 15 Jun 2010, 12:06, 1 reply)

While that's true
if people weren't obsessed by buying rather than renting it still wouldn't matter. It's a British mindset thing, and added to this viewing of property as an investment rather than a roof over the head means people move more often. People moving more often drives up prices.

More renting and 25 year fixed mortgages would help. But it's a mindset thing, and that's mostly driven by the press and public attitudes rather than the government.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 15 Jun 2010, 12:28, closed)