Sometimes it seems as if we are a nation obsessed with house prices. Barely a day goes by without there being an item in the newspapers about house prices – are they going up or down? Is the market too volatile, or perhaps too stagnant? What is happening to interest rates?
But we are in danger of knowing the price of everything and the value of nothing. There is a bigger picture to be considered; the sustainability of house price growth, of course, but also the dangers inherent in a constantly rising market.