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Have we got house price values all wrong?

In 2013, my brother and I clubbed together for a deposit on a flat in south London.

Eight years on, two separate estate agents have assured us it would sell for double what we paid. Typical commission-hungry over-promises? Zoopla data for recent purchases in the building, together with last year’s four-fold ground rent hike, suggests they might be right.

Two reasons explain a 12 per cent annual growth rate in the value of this distinctly average home. First, despite my net negative contribution since moving there, the postcode became a lot trendier. Second, we also made the biggest financial decision of our then youngish lives just before London’s post-financial crisis house price surge started to rocket.

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