No dinner party would be complete without talk of property values, gazumping, or someone who has made a killing on their home. We British are obsessed with our bricks and mortar. 70% of us own our own homes, which is more than any other European country.

On this crowded and class-conscious island, home ownership has always been associated with status and self-worth. Indeed, up until the late nineteenth century only property owners were allowed to vote. More recently, the sale of council properties to tenants coupled with cheaper, more accessible, mortgages have further fuelled the thirst for ownership.

In less than a generation the proportion of UK adults living in their own home has leapt from a third to more than two-thirds. The pressures to buy are huge, but with the UK average house price now standing at around £198,000, first time buyers are struggling to get a foot on the ladder. In a market significantly fuelled from below, it looks like the pressure on prices is likely to ease.

But don’t let that put you off your dinner. Realistic analysis suggests there will not be a crash such as that experienced in the early 1990’s - rather a moderation in the rate of property inflation. This would point to a healthy stable market, and it this stability that will secure our own homes as the best low-risk, tax-free investment we can not only buy, but also enjoy.