Cable: Home ownership 'unaffordable' for families

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

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."