NHF: Housing market is dysfunctional and the preserve of the wealthy

David Orr, NHF chief executive, brands housing market dysfunctional and the preserve of the wealthy:

"With home ownership in decline, rents rising rapidly and social housing waiting lists at a record high, it's time to face up to the fact that we have a totally dysfunctional housing market.

"Home ownership is increasingly becoming the preserve of the wealthy and, in parts of the country like London, the very wealthy.

"And for the millions locked out of the property market the options are becoming increasingly limited as demand sends rents rising sharply and social homes waiting lists remain at record levels."