If the housing market was truly as healthy as the government would like us to think it is, they would not have had to intervene last year with the HomeBuilder scheme. You don’t go propping things up, unless they need it. That aside, it seems in theory they could keep pushing it higher, since borrowers are still insane enough to take out enormous mortgages and lenders are still obliging. See what happens if they tighten the lending standards…
Add into the mix all sorts of supply chain problems, timber prices rising and a serious shortage- who knows what will happen? What I do know is that you can’t build things unless you can reliably source ALL the things you need, AND WHEN you need them.
It’s all a total mess.
Eventually something has to give. It has to.