Double-digit house price inflation has been caused by a combination of low interest rates, relatively high disposable household income and the popularity of property as an investment when stock markets have performed poorly.

BBC: House prices 'to rise 12% in 2003'

Ms Barker was investigating why the supply of new houses had responded so sluggishly to the house-price boom, with completions actually falling to a low of about 175, 000 in 2001, although they have since staged a recovery (see chart).

ECONOMIST: British housebuilders are getting bigger

His time at the Royal Opera House saw access to performances widened through nationwide big screen relays, the introduction of special low-price ticket schemes and the purchase of a DVD company, Opus Arte, to distribute recordings globally.

BBC: director general Tony Hall 'confident' about future