Britain's economic recovery could prove to be a "short term bounce" if it is based on a housing boom, Vince Cable has warned.
The Business Secretary insisted sustained growth depends on rebalancing the economy and preventing a return to "boom and bust".
The comments, during a keynote speech at the Bank of England, are the latest expression of concern from the senior Liberal Democrat over the state of the property market.
He also launched a scathing attack on the Tories, branding their plans for deeper spending cuts after the election "slashing for its own sake", and complaining that the prospect of a referendum on EU membership is undermining business confidence.
In the address to the Royal Economic Society, Mr Cable argued that a "real recovery is taking place".
More top news
Labour's Harriet Harman has urged the Prime Minister to take in more Syrian refugees saying the UK should not shirk its responsibility.
Reality TV star Ricky Rayment was arrested for ABH following a fight on Saturday night in Brighton.
A would-be robber was left begging for mercy after a woman he tried to mug turned out to be a martial arts expert.