Key workers like nurses and fireman are similarly priced out and unable to buy near their places of work.
Gordon Browns scheme announced today in the Observer will not help those already priced out and is just a smokescreen to make it look like he is trying to help people who want to buy a house. I suspect it is part of his plan to win support for his bid to take over as Prime Minister once lame-duck Blair has gone.
In effect the UK housing market is now a busted flush and the vast majority of First Time Buyers have shown that ridiculously high house prices have forced them to go on strike.
There may be some return to the market when prices have come down by about 30% or more. This process has already started with increasing numbers of house round here (West Mids.) being cut by between 5 and 15% but still not selling. They will be tumbling even more by the autumn.