House prices should stay "stable" for a generation to help first-time buyers, a minister said today.
Housing minister Grant Shapps called for homes to once again be treated as places to live in, rather than a way to make a quick profit.
"The fundamental reason for housing is to have a roof over your head," Mr Shapps said. "I want a house to appreciate gradually at less than salaries because then you end up with everyone winning."
The comments, in a speech in London, represent a significant change of emphasis in official policy after years in which large price rises have been encouraged. Mr Shapps emphasised he was not calling for values to "plummet".
A recent Halifax survey showed a 3.6 per cent monthly fall in prices. But the £162,096 cost of an average home is well above a decade ago.
