I have a daily ritual. Even though I’m not currently in a position to buy a large three or four-bedroom house in London, Bristol, Kent or the suburbs of Manchester, I like to scroll through listings online just to see what’s available. I call it “research”, but truth be told, I’m fantasising about the sort of life I could have were I able to afford it.

Over the last two months, this ritual has meant I’ve observed something interesting in Britain’s housing market. More and more homes are marked as “reduced” by their listing agents – sometimes by tens of thousands of pounds.

It seems our dreams are about to become (somewhat) more affordable, because after almost 30 years of wild inflation, Britain’s housing market appears to be slowing down.

While it may be true that house prices rose slightly in July, by 0.6 per cent according to lender Nationwide, prices are nowhere near growing at the rates we became used to in the early 2020s – in 2021, they rose by a whopping 10.8 per cent, for instance.

Today, the annual rate of growth is closer to 4 per cent, according to the

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