Demand for new-build homes is driving a boom in house building with construction growing for the fifteenth consecutive month.

The Governor of the Bank of England, Mark Carney, says interest rates must rise to avoid a housing bubble developing.

Figures released from the Bank of England show the number of mortgage approvals has increased in June.

Data from the Land Registry show a decrease in prices in seven out of ten areas with a sharp rise in sales of £1m properties.

Office of National Statistics (ONS) data shows house price inflation reached 10.5% in May the highest level for four years.

New data from the Nationwide reveal London homes increased in value with average prices now over £400,000 for the first time.

Lenders have increased the cost of fixed rate mortgages after the Bank of England signal the end of cheap borrowing.

The number of mortgage approvals have reduced in the last four months following the Mortgage Market Review and worries about interest rates.

National Housing Federation (NHF) says first time buyers now need 10 times the deposit when compared to buying in the early 1980s.

As the demand for low deposit loans increases George Osborne gives the bank of England power to cap risky mortgage lending.

The average price of a UK home last month has increased by the biggest margin for ten years according to the Halifax.

The European Commission is concerned with Britain's house price inflation calling on the Chancellor to “deploy appropriate measures”.