Cable: Home ownership 'unaffordable' for families

Home ownership is becoming "unaffordable" for middle income families, the Business Secretary has warned.

Cable: Home ownership 'unaffordable' for families. Credit: Yui Mok/PA Wire

In an interview with The Independent, Vince Cable said there were still not enough homes being built to satisfy the demand of people wanting to buy a place of their own.

"The fundamental problem is a chronic imbalance between supply and demand. A recovering mortgage market is just fuelling demand again," he said.

"A family on average income is nowhere near able to afford a house at the average price. Property has become much more unaffordable for people on middle incomes."