I think anyone who thinks house prices will rise, in the short to medium term, seriously needs to reassess their information sources. As for gold, until economies around the world are generally looking stable and healthy, gold will be a good place to have your money. If not gold then what? Sterling? Dollars? FTSE? I know which one I sleep safer holding.
The gold prices are less a bubble, than a result of increasing anxiety about having money in economies that are increasingly built on toxic debts and expected inflation down in the future. I don't see that changing anytime soon.