If you listen carefully you can hear a strange sound – the London property market grinding to a halt. Our increasingly incoherent approach to Brexit has spooked foreign investors and buy-to-let purchasers who have fuelled property values in recent years.

The outcome is flatlining, if not falling, house prices which even the prospect of a free Porsche is not likely to change. Factor in the prospect of the flight to the EU of up to 80,000 high-paid jobs, then the chill could become a freeze for many years. Those of more advanced years will understand this happens to property, but such a fall will come as a shock to younger homeowners. I will leave it to those more clued up in housing matters to explain how negative equity can co-exist with the Government's Help-to-Buy scheme. For the wider housing market, there are some real dilemmas.