The booming buy-to-let market and ease investors can secure mortgage loans could undermine the UK economy when interest rates rise.
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The Land Registry data shows house prices for homes in east of England up 1.6% with London gains of 9.1% in the last year.
Prices of homes in Kensington and Chelsea are 1,500% more than Blaenau Gwent in Wales emphasising the divide across the country.
Annual house price rise in April is 5.5% down from 9.6% in March, says ONS, while the number of Help to Buy completions have decreased.
Data from the Nationwide building society show a slight fall in house prices in May while cash buyers represent four out of ten purchases.
The number of mortgages approved in April increased 9.9%, the highest monthly rise for six years according to the Bank of England.
Property prices have continued to grow since the election with annual growth at 5.1% and set for a surge for the rest of the year.
Tax breaks add £14 billion to landlord buy-to-let income boosting the sector while first time buyers are priced out of the market.
The value of landlord property near the £1 trillion level with income of £112 billion as the buy-to-let sector continues to grow.
Mortgage lending to first time buyers in Greater London is 16% lower to the previous quarter according to the latest CML report.