The Government reveals that 112,000 people have bought or reserved a home under schemes such as Right to Buy, Help to Buy or shared ownership.

The initiatives have, without question, given a welcome lift to a housing market which has bumped along for a number of years.

They have brought back vital first-time buyers many of whom have been effectively been shut out of the market since the economic downturn kicked in almost six years ago.

But while they address some of the symptoms, they do not deal with the root cause, according to some industry experts who believe a shortage of housing stock is the real problem.

Move with Us Director Robin King said: "While the Government’s intentions are in the right place and things are moving in the right direction, they have been short sighted in stimulating demand but have done little to increase supply.

"Although a £1billion fund has been granted to unlock housing development in the North in places such as Manchester and Leeds, supply also needs to be stimulated in areas where there is high demand for housing such as the South East and the more affordable areas surrounding Greater London.

"If supply can’t keep pace with demand, property prices will rise as multiple buyers vie for one property and this really could make home ownership unaffordable for many aspiring home owners in Britain. Building 400,000 new homes in four years is a step in the right direction but we need to build 400,000 every year, as we did in the great depression of the 1930s, to ensure supply keeps pace with demand.

"There should also be an injection of investment in the supply chain businesses expanding production to supply more bricks, blocks and plasterboard otherwise the market will be somewhat restricted.

"Stimulating supply by reinvesting the money from properties sold to Right to Buy owners in new properties to social tenants to live in is a smart move as it will help to tackle the shortage of social housing."

Peter Lawrence added: “Improving the ability and opportunity to buy is clearly good news for those involved but, without an increase in supply, it will simply fuel demand and push prices upwards.

Speeding up the delivery of more new homes is needed.”