Margaret Thatcher’s vow to deliver a “property-owning democracy” was exposed as a sham yesterday by new figures confirming that home ownership is permanently out of reach for millions.

Politicians and campaigners called for a new era of low-rent housing after the Office for National Statistics reported prices at record or near-record levels across the country, despite flatlining wages.

First-time buyers trying to escape sky-high rents or living with parents faced the biggest jump of all.