The Government's "unwise" Help to Buy scheme has been criticised amid the Bank of England governor's warnings of a property "boom".
Sam Bowman, research director of the Adam Smith Institute, said: "Mark Carney's comments on house prices are timely and accurate: the house price boom in London, the south-east and the East Midlands is fundamentally down to a lack of housing."
He added that the "supply-side crisis" meant it was up to the Government - not the Bank - to bring prices under control, and called for a rolling back of the green belt to create space for one million homes.
Mr Bowman said that while Help to Buy was "probably too small to make a substantial difference to house prices" it was "inflating demand without increasing supply".
More top news
The father of Ched Evans' rape victim claims people are trying to track down and kill his daughter over the ordeal.
Tacloban in the Philippines is still trying to pick up the pieces one year on from the devastating Typhoon Haiyan.
A new teacher has been hailed a hero after she intervened when a student opened fire in a school killing a girl and injuring four others.