By Emily Rippon,BBC NewsHome buyers are spending more on their homes than ever before and it’s not helping to keep them affordable.
But what is housing bubble?
Home buyers buying now are spending the most on a property in 20 years, and they’re also getting more expensive.
The latest figures show that the median price of a new house in London increased by 15.5% in the past 12 months.
This is the highest increase in 20% of homes in 20 months, according to the Office for National Statistics.
What is housing?
The term housing is used to describe a home which is either a house or apartment and is owned by someone else.
It’s a kind of property that’s owned by a private person, and not a government scheme like the housing benefit scheme or the National Health Service.
It covers the whole of the property and includes everything from the building and the furnishings, to the plumbing and electricity, the heating and air conditioning.
The average price of an individual home in London rose by 7.5%, while it rose by 14.7% for a house in Scotland.
The UK average price rose by 5.4%.
The rise in London has been especially high, at 9.4%, while in Scotland the average price increased by 4.7%.
The cost of renting a property has gone up the most, up by 2.4% since the end of March, while the cost of buying a property was up by 5%.
In England, average rents have increased by 0.4 percentage points, with the average in Scotland rising by 0,6%.
The average monthly rent in England rose by 4% since March.
In Scotland, the average rent rose by 2% since April.
The most expensive property in the UK, with an average monthly price of £1.4m, was owned by Mr Cameron, and the second most expensive was the former home of former prime minister Tony Blair.
The average price for a flat in London in March was £1,900, while in Glasgow it was £3,300.
The cheapest property in London was owned in 2013 by a Scottish billionaire, and is now owned by Sir David Cameron’s daughter.
In Ireland, the most expensive single-family property is a three-bedroom house on a quiet street in Dublin, which costs €1.2m a month, and has an average rent of £847 a month.
The second most-expensive property in Ireland is owned in a former Irish embassy in New York, which cost €1m a year, and was bought by Mr Blair’s son David.
The third most expensive in Ireland was a five-bedroom townhouse on a small estate in Dublin that costs €3m a week.
The least expensive property was a one-bedroom flat in the city of Bournemouth, which was bought for just €100,000 in 1998, according the OBR.