Mark Carney is set to examine the impact of the government’s controversial Help to Buy scheme on the housing market. We recommend he start by taking a look at this chart.

Help to Buy, which allows homeowners to get mortgages of up to 95 per cent, was rolled out fully in October 2013 but has been available for new build properties since April 2013.

In the above graph we have plotted year-on-year percentage rises in the housing market in the whole of the UK since April last year against the rate of inflation (CPI). We also pulled out year-on-year increases from London, where prices have risen sharply. All figures are taken from the Office for National Statistics.

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