With this stimulus in place house prices have surged in the U.K. Data from the U.K.-based Nationwide building society said house prices rose at their fastest rate in over four years in December,with a rise of 1.4 percent and were 8.4 percent higher year-on-year.
With housing indicators turning increasingly positive, concerns have been raised that the U.K. housing market could be forming a bubble. High-profile critics of the program have included the former Bank of England Governor Mervyn King who called it "too close for comfort" to the U.S. mortgage guarantee schemes that some blame for triggering the financial crisis six years ago.
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Quinton, quoted in the report, said that an increase from overseas investment into the market and the capital's continued appeal as a property hot spot was also spurring construction.
Foreign investors have snapped up between 65-70 percent of the new build homes in prime London over the past two years,according to research by sales and lettings agency Chesterton Humberts.
In addition to the Chinese, Russian and Middle Eastern buyers that have previously driven the market, it said in a report back in August that Nigerians, French and Greeks, due to political strife, have also shown an interest in the market.
—By CNBC.com's Matt Clinch; Follow him on Twitter