House prices "will overtake pre-crisis peak by next year thanks to government"s new help-to-buy scheme"

House prices 'will overtake pre-crisis peak by next year thanks to government's new help-to-buy scheme'House prices will hit record highs while millions can't afford to buy home 130billion scheme will 'add 1,000 to the price of a property next year' By Becky Barrow PUBLISHED: 20:52 GMT, 31 March 2013 | UPDATED: 07:38 GMT, 1 April 2013 The cost of the average home will jump by nearly 50,000 over the next five years, partly fuelled by the Government’s mortgage lending scheme, a report reveals today. The Centre for Economics and Business Research said house prices will pass their pre-recession peak next year and will go on to hit record highs at a time when millions cannot afford to buy their own home. The economic consultancy predicts the 130billion lending scheme, unveiled in last month’s Budget, will add more than 1,000 to the price of a property next year.