Thats just ridiculous. Then you have the influx of immigrants from other countries buying up real estate, artificially raising the prices, all on little bits of land. I have seen some nice properties in the UK, but they all seem to be far, far aways from cities. Home ownership will probably be a thing of the past in the UK eventually.
Will be a long long time before that happens.
As long as you don't mind living 30 mins from the city, house prices are not too bad. As an example, I live 45 mins train journey from central London and I could buy a 5 bedroom country home, with a smallholding and a couple of little outbuildings for 500k.