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I remember when house prices doubled in the space of 3 years and it wasn't a supply shortage that caused this.

Sure, because demand went through the roof. And demand is currently high again. So either we need fewer people, or more dwellings.

Supply of finance is critical factor in this not mentioned enough in this thread.

It wasn't a surge in demand either..

It was a surge of demand, driven by the availability of cheap money.

Yes but thats misleading because the demand surge was people who want to live in the homes AND investors.