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@aggi
When I remortgaged I just plucked a figure out of the air that seemed vaguely similar to the flats nearby. The bank sent a valuer round (basically measured the place and that was it) and I got a mortgage so it must have been in the ballpark.
Personally I wouldn't mind a crash back to 2010 prices (when I bought admittedly). At that point a flat was worth about £250k and a house £500k round me. Now a flat is worth £450k and a house £900k.
There's a chance, with girlfriend, that we may be able to stretch to another £250k to sell my place and buy a house. There's no chance we can stretch to another £450k.
The price increases may keep pace in percentage terms but they leave you screwed in absolute terms.