It's a question posed by many people wondering just when the bubble will collapse. With employees saying it is too expensive to buy homes near their jobs, bosses also are asking a similar question, but for different reasons.

Almost four in every five UK finance chiefs now believe it is too expensive to get onto the property ladder in the UK, according to this weeks Reed Accountancy / Accountancy Age 'Big Question' survey.

Asked the question, "Is it now too expensive to own your own home and get on the property ladder?" Finance directors said:

• Yes definitely: 56%
• Yes probably: 28%
• Neutral: 7%
• No probably not: 8%
• No definitely not: 1%

Some FDs felt one of the key drivers escalating house prices was those same groups being marginalised by high property values: "As long as street-smart singles can take their first steps onto the property ladder, values will continue to rise," said John Davies, financial director, Moore and Blatch.

Bryan Armour, finance director, Parchment Housing Group warned of the potential consequences: "People are now forced to take great risks to acquire a property. The vulnerability of many to rising interest rates, or loss of employment, is greater than society should take and could prove catastrophic," he said.

John Buckley, financial director, Sauter Automation felt new property entrepreneurs were also to blame: "There is an artificial feel to the latest house price inflation. If first time buyers cannot afford to get on the property ladder, who is buying? People appear to be 'buying to let'? This is creating a demand and price structure which is impossible for those who rely on a salary," he said.

Chris Clarke, financial director, Projector UK warned the market was over heating and asked, "Is the only support of these prices the low mortgage rates?"

"We are due to crash, and once the base rate rises we will see this," added Clarke.

Richard Post, managing director, Reed Accountancy said: "Evidently there is great concern amongst the financial community over the increasing price of property. The interplay of salary issues, property as an investment, and initial steps onto the housing ladder has created a very tricky situation for first time buyers."

"Directors also identified the usual regional issues such as increased prices in the south-east, and there is a cautious anticipation of an increase in interest rates amongst the FDs of UK plc."