The last house price boom really was something. It created property millionaires, TV celebrities, accidental landlords, an explosion of PropTech companies and one or two red-faces in its aftermath. In 2007, the hottest year, the price of the average UK home rose by £15,900. Chorlton and Old Trafford felt the effect as well, by prices rising by 10.2 per cent or £18,400 in that year alone.
We all know things came to a sudden halt in 2008 with the credit crunch, when the availability of mortgage finance evaporated seemingly overnight. Since then the national market has made something of a come back with prices rising more steadily and sales volumes sitting broadly halfway between their highest and lowest point in the period 2000 to 2007.