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"... People in the North complain about London sucking up too much of the country’s wealth, but the ordinary people in the capital need all of it — and more. There is no hope of this ever getting any better until we build thousands more new homes.
"There is a seemingly endless debate about the Government’s Help to Buy scheme, and growing pressure on Bank of England Governor Mark Carney to do something to slow down the London house-price surge. Even the International Monetary Fund joined in last week.
"Carney has the power to make mortgages harder to come by. If he does, that might take some of the steam out of the market but all that will do is buy a bit of time.
"People will still need somewhere to live, so it will not solve the problem in the long term and it will have the immediate and adverse consequence of increasing the already heated demand for rented accommodation. Pretending to solve one problem will make another worse."
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