MPC rate-setter David Miles wants fewer owner-occupiers to increase labour mobility. But the Treasury, with its mortgage indemnity plan, wants to re-flate the housing bubble.

Britain is on course for a lower level of owner occupation – and that would be no bad thing. So said David Miles, one of the nine members of the Bank of England’s monetary policy committee in a speech in York today.

This came just 24 hours after the Treasury announced that it would be spending £400m to kickstart private-sector housebuilding and provide a mortgage indemnity scheme so that those buying new-built homes can get a home loan worth 95% of the property’s value.

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First homes bought at the height of the market in 2007 have seen £11,000 wiped off their value, according to HSBC

Falling house prices have trapped more than 350,000 first-time buyers in properties bought at the peak of the market, a bank has warned.

Young people buying their first home have seen an average of £11,000 wiped off the value of their properties since 2007, according to a report by HSBC.

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Restaurant and upper accomodation

1960′s 3 Bed Semi

1950′s Detached Bungalow

1500′s Timber Framed Thatched Farmhouse

1500′s Detached Timber Framed Farmhouse

1990′s 5 Bed Detatched

3 Storey Victorian Semi

1930′s 3 Bed Semi