Until rent, house prices and letting agent fees are controlled, raising the minimum wage is a "catch22" scenario... Living costs will increase as businesses cover the wage increase by increased prices, but for most normal individuals/families, it is the price of having a roof over their head that is the most crippling expense.
Letting agents and landlord/ladies... Money for old rope.
Allow the UK population to increase by ~10 million since 1990, with more people living alone and not having a sane housing development policy in place by successive governments, shock horror demand outdoes supply and house prices rocket for those unable to get on the housing ladder before ~1990.