I think it is unfair to say they caused it – the housing market is way too complicated to be able to sum it up like that. And anyway, the market was already on a ridiculous rise way before Phil and Kirstie or Sarah Beeny came to our screens. I bought my first flat in 1991 and by the time I sold it in 1994, it was already way beyond my price range, had I been starting out then. Did they encourage it? Again, no. I think Location Location Location actually helps people be realistic about the price a property is worth, rather than pushing it up, and Phil and Kirstie are incredibly professional and sincere about doing a good job. Property Ladder did illustrate just how people could renovate properties and make a small fortune in a small amount of time, but if anyone cared to listen between the lines, hardly a show went by without Sarah Beeny saying 'Well, of course, you’ve done well because the market here is rising steeply – if it wasn’t you’d have lost money.’ Listen to that in hindsight and it’s a healthy warning, not an encouragement.

When the bust followed the peak of the boom in 2007, how did the 4homes team/C4 react? Was there a sense of impending ratings doom, considering so many of the programmes seemed based on an assumption of rising house prices and a public fever for property acquisition?

Actually, for me, it all became much more interesting, from a professional point of view (from a personal point of view it was more worrying because I’d just moved into a new house...). In terms of the emails I was getting they changed from ‘Hello, I’m a school leaver. How can I get into property development?’ (to which my answer was, ‘Er, you can’t really, unless you’ve got a ton of cash’) to ‘Should I move now or extend my house?’ or ‘How can I make my home worth more in a property crash?’. So, much more realistic and easier for me to reply to constructively.

It also allowed us to tackle a much wider range of subjects – from repossession to debt. More than anything, it allowed us to bring on board a range of new experts, such as Kate Faulkner, who could cut through all the headline grabbing nonsense and bring people the truth about the house price figures that were published.

As for the Channel’s reaction, it was quick - as usual. Before you knew it, Property Ladder became Property Snakes & Ladders, we got The Home Show, which was all about making the most of the house you have already and Restoration Man, which focuses on long-term investment. Location and Grand Designs haven’t had to adapt that much – the British public is obsessed by property, crash or no crash – even my eight year old is a 4Homes obsessive. The programmes help keep us all informed about what’s possible – and we back that up on the website by tackling the meaty and sometimes dry subjects that the shows can’t. On which subjects, some great new shows to come soon... can’t reveal more... but watch this space!

Do you have a favourite episode of a 4homes show... one where things turned truly extraordinary?

Hmmm, that’s a tricky one. I’m a big fan of Grand Designs and lots of them stick in my mind. The Birmingham Church; is one because we recently had a team visit to that house and were given a tour by the owner. He did just about everything himself, had health problems, friendly disagreements with Kevin and all sorts of other problems. To my taste? Not necessarily, but that man is a legend. As for a home I really loved, that would have to be the Violin Factory, which is also somewhere I’ve visited a few times since it was filmed. It’s stunning, considering how near it is to Waterloo Station! Restoration Man is also a favourite – I thought all the episodes were brilliant, partly because it highlighted just how hard it is to get plans past building consent, the planning and conservation departments. It was very real.

The Rat and Mouse was founded on the idea that there’s a fundamentally dysfunctional relationship at the heart of the UK property market. Are there ever days when you look at the odd connection between Brits and their homes (part investment, part castle, part focus of dinner party bragging rights) and wonder what it’s all about, whether we’d all be a lot happier if homes were a lot cheaper and just places to stay warm and dry?

You’re asking the wrong person. I’m sure it’s totally dysfunctional, but all the best relationships are... And, hey, it’s not compulsory for people to buy property. I rented quite happily for years. So why buy? Surely it’s about control? I didn’t like being at the mercy of a landlord who didn’t care if my boiler didn’t work properly, who carpeted the whole place in swirly-vomit-style patterned rugs and who occasionally came to my rental property and stole my vacuum cleaner (okay, that last one only happened once, but it DID happen). A girl should be able to leave her warm, beautifully carpeted property knowing her vacuum is safe.

Anything to plug?

‘Anything not to plug?’ is possibly an easier question... I’d suggest to anyone that’s never heard of us, they simply click through to www.channel4.com/4homes and have a good trip around the site – use our search box for particular subjects. We’ve got everything from inspirational room galleries and shopping guides to step by step DIY guides, advice on spotting and solving damp or subsidence problems and tips on organising building contracts. We’re not ‘lite’, we’re not fluffy, we’re the real thing.

Thanks Lucy... a pleasure chatting with you.