Home ownership remains just a dream for many people

The House Price Control campaign has been set up by Bob Goodall, who started the Save Our Building Societies group.

He wants campaigners to lobby MPs and other organisations to highlight issues such as availability and affordability.

On Monday, Deputy Prime Minister John Prescott announced that first-time buyers would be offered help to buy homes under a new five-year plan.

Several years of soaring house prices have left many would-be first-time buyers unable to afford a property.

With one hand people work to raise their standard of living but lose with the other as the cost of finding a home increases Bob Goodall

Last week, the Halifax said that average house prices were now beyond the means of people on average incomes in nine out of 10 towns.

The bank added that first-time buyer numbers were at their lowest level since 1981.

Debate

Campaigner Bob Goodall argues that high house prices represent an "illusion" of wealth that result in higher costs such as insurance.

"A person only realises the wealth if they sell their home then the 'wealth' is gone when they buy another one unless they move away," Mr Goodall explained.

The best way for raising the overall standard of living in Britain, he said, was to control the biggest financial burden in people's lives - housing.

Mr Goodall is calling on MPs and property organisations to start a debate on what measures to take to control house price inflation, using government regulation if necessary.

"Regulation is a free tool for the government that costs nothing financially," he said.

Limited supply of land and rising demand through a booming population means that prices will continue to soar, he said.

"With one hand people work to raise their standard of living but lose with the other as the cost of finding a home increases.