A carton of milk would set a family back by £10 and a roast chicken would have a £51 price tag if food costs had risen in line with house price increases over the last 40 years, research by Shelter has found.
The charity said that the typical value of a house had increased by just over 43 times since 1971, from £5,632 to £245,319.
If a family's weekly shop had increased at the same rate, it would now stand at £453, which is six times the actual figure of around £75. Applying the house price rate of inflation to everyday food and drink items means that a bunch of six bananas would cost £8.47, a four-pint carton of milk would cost £10.45 and a leg of lamb would be £53.18, Shelter said.
Shelter's chief executive Campbell Robb said: "The high cost of food is already a real concern for people, so if prices reached these levels there's no way we'd accept it.
"Yet when it comes to the huge rise in the cost of buying a home over the past few decades, somehow this is seen as normal - even welcome - despite the impact it's having on a generation desperate for a home of their own.
"With more young people and families priced out, home-ownership is already starting to fall, which in turn is driving up the cost of renting. Unless something changes, the next generation will find it even tougher to find a stable and affordable home."
Shelter said that it had also recently found that 59% of adults who did not own a home believed they would never be able to afford to buy in their local area.
There have been recent signs that Government efforts to kick-start the housing market are having an effect for people who have previously found themselves shut out of the mortgage market.
Studies have shown rising numbers of mortgage approvals to home buyers as well as increased lending to first-time buyers, although analysts have pointed out that many of these figures are still way below long-term norms.
Shelter said it used official figures as a base for its research.
The above payments are for illustration purposes only. You need to consider any insurance payments that also need to be made. Please note that any changes to your mortgage, for example, as a result of changes to the Bank of England base rate (variable rates only) or any overpayments you make, may affect your monthly payments. * For interest only mortgages you need to add on the cost of repaying the capital with a repayment vehicle such as an ISA or endowment policy. Loan to value (LTV) restrictions apply.
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I am no fan of tax, but I think capital gains tax should have been applied to house sales as soon as prices started to run away. And why not? it applies to any other speculation, infact start now!
chrjm612 - Capital Gains tax would simply reduce the profit on selling houses - it would not solve the fundamental problem of supply and demand - it would of itself not generate a single extra house .
Food OUTPUT has hugely increased in the last 40 years - and if there is a shortage of bananas and the price rises people switch to other fruit -- they don't simply starve .
But look at house building - during the 1930's we were building 300000 a year average - in the 1950's , 1960's 1970's 500000 a year - in the first decade of this century house building was the lowest since the 1920's . If we had the same food output as in the 1920's we would almost be be starving and fod prices would be rocketing.
In Germany house prices have been largely static for decades - why - because they have 2 million empty houses and flats - very simply where demand exceeds supply prices rocket - where demand much less than supply prices fall - houses are just like anything else in that respect