NEXT time you get a spare five minutes, log onto the internet and take a look at the price of houses across the country.

Just look at what you can get for your money in Swindon compared to regions like the north east, parts of Scotland or Northern Ireland.

It is certainly an eye opener. Families crammed into a two-up, two-down terraced house could for the same money enjoy a large house with a decent garden. Take the same pot of money to Australia and the chances are you will get a swimming pool too.

The spiralling prices along the M4 corridor are doing none of us any favours and the 20 per cent annual rise is unsustainable.

It creates instability and uncertainty. And the danger is that, given the fluctuating stock market amid US financial scandals, a sudden crash will bring falling house prices and the spectre of negative equity.

High house prices in Swindon mean talented young people like Johnathan Johnston may be tempted away from their home as they are frustrated in efforts to buy a house. And others will refuse to relocate to our town because of the impact on their pocket.

Interest rates will clearly rise to cool this madness.

The challenge now for Gordon Brown and the Bank of England is to engineer a slowing down of house price increases without also slowing a delicate economy that could bring more job losses to our town.