REGULAR readers will know that the subject of house prices has been dear to my heart for many years .

Most recently I wrote about council housing, or rather the lack of it. Now I feel I must return to the private sector because we are starting to see the things I warned about in 2001 and because Lancaster will suffer more than most for its over-inflated house prices.

Lancaster University has played a huge part in this phenomenon. As it has became more popular with students so the house prices have gone up in and around the area's close to the campus and St Martin's College.

Four years ago, I wrote that house prices were out of the reach of most first time buyers in Lancaster . I know couples who bought houses in Morecambe as a result.

At that time I forecast that it was only a matter of time before we saw the house prices in Lancaster hit a peak where no-one was prepared to pay any more. I now believe we've reached that point I also believe it will hit Lancaster badly because of the new accommodation blocks at the university which mean that more landlords are putting their rental properties onto the housing market.

These are the same landlords who clamoured over cheap two and three-bed houses in the first place, driving inflation. Now they are selling up but no-one can afford to buy.

Those waiting to get on the ladder can't afford to get on the bottom rung and those on the bottom rung can't afford to go any higher.

This means Lancaster's house prices will drop and they will drop more quickly than slowly. As more three-bedroomed houses come on to the market that no-one can afford these prices will drop first.

When the people on the bottom rung can afford to pay the price for these properties, then we will you'll see more two-bedroomed houses on the market at a reasonable price for first time buyers. And it's about time too.

Sean Kelly, Lancaster