Prince Charles has warned that predicted house price rises for London are not sustainable and risk driving away young talent.

The Prince said the hope of home ownership for those starting their careers in the capital was becoming further and further out of reach. He was speaking as his organisation the Prince's Foundation for Building Community launched a report which suggested that mid-rise buildings could be the solution.

Addressing the Housing London Symposium, in east London, the prince said: "The National Housing Federation estimates that in only six years' time the average London house price will have risen 40% to £650,000.

"This isn't sustainable and risks driving away talented young individuals who are starting their careers in London and spending most of their income on rent".

"Home ownership for this generation is seemingly becoming further and further out of reach."

Houses in London have a typical price tag of £458,000; prices in the capital are nearly 23% higher than the 2008 peak before the financial crisis, according to figures released on Wednesday by the Office for National Statistics. During the 12 months to January, London property values rose 13.2%.