The UK has a major issue regarding rampant house price inflation. The link between salaries and actual house prices is now gone.

For example in 1997,a graduate earning say £18,000 could afford to buy a house that was on the market for £55,000 in East Anglia.
The 3.5 times multiple of salary to house price meant one could buy that £55,000 house.

Today, the situation is that a new graduate earning £28,000 in East Anglia, could not afford a house, as that £55,000 in 1997 is now on the market for £200,000

Madness.

Why ?

The simple reality is not enough supply of new houses. A major cause and rarely mentioned by the politicians is that the our aging population live in incorrectly dimensioned homes.
A family house, say a 4 bedroom house, that once housed a full family, is now occupied by an elderly couple or just one person.

These homes are not coming onto the market for younger people, thus lack of supply of family homes.