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Yeah, absolutely. And probably smaller/stricter income multipliers too, as well as everything @Stonehedge said a little while back about BTL & rent control.
The other issue is that over 50% of homeowners don't have a mortgage at all. Ideally, that buying power needs to be rebalanced too, so first-time buyers can even get a look-in.
slippers
If we want lower house prices then the cost of lending has to increase, surely?