He has been fighting its corner against the cynical commentators for their negative portrayal.

He has found the past year very frustrating. It seems that for every positive story in the press about the property market, there are five negative ones. Most of the time it is sensationalism rather than fact.

The latest negative story is that increased mortgage lending and spiralling house prices risk causing a housing bubble, similar to what we saw pre-recession.

However, the Bank of England governor Mark Carney has been quick to hit back, believing these concerns are unwarranted, and vowing to act at the first sign of trouble.

Let’s not forget that times have moved on. The Bank of England doesn’t just rely on interest rates to contain risk. There are numerous tools they can use to secure the property and financial sectors, doing everything they can to monitor the risk of unstable credit and house-price growth, acting immediately if needed.

In a recent interview Paul Fisher, the bank’s executive director for markets, was also quick to hit back at the criticism, insisting its new policy of providing forward guidance on interest rates was working and dismissing the housing bubble fears as hype.

The reality is no one wants another recession, but sensationalism can often be worse than the problem itself. People are forever talking about what might happen, rather than focusing on the facts.

The UK economy is said to be at a rate at which recovery is self-sustaining, with households’ debt-servicing costs relative to income below their 20-year average, similar to where they were in 2003.

Economic activity is also improving. A recent report from the National Institute of Economic and Social Research revealed output grew by 0.9% in the three months ending in August.

Yet people are still saying we are heading for this great, big fall. The reality is the conditions indicate a sustainable growth over the medium-term, most importantly at a pace that is likely to be measured rather than rapid.