Surely a lot of the problem with housing is simply that demand > supply, especially in areas like London and the home counties? Then there are various reasons why increasing supply is a problem, one of which being that in areas where there's space to do this more readily there aren't the jobs to go with them.
This has only been a problem in the last 20 years or so, for example my previous neighbour bought their house for (IIRC) £160k in about 1997, and sold it for £1.1m in 2016. That's ridiculous by any score, and no they didn't do much to it in the intervening time!
Prices are ridiculous In many areas - London us just the most extreme.
Possibly, depending on how popular home working proves long-term, thiscould reduce the pressure on housing hot spots, but a drop is needed across the board.