An Englishman's home...

This week on Breakfast we're been looking at radical changes which might be needed in the property market to get Britain into shape for the Euro.

The government says sweeping reforms may be needed, because the British housing market is so volatile.

In our final report (on Wednesday June 25) we looked at how things work in Denmark, where home loans are usually on long term fixed interest rates. You can watch that report by clicking on the icon on the right hand side of this story

Yesterday, our reporter Mike Sergeant went to Devon to meet one Englishman whose home is quite literally a castle

You can also see Mike's film from Monday by clicking on the link on the top right hand side of this page

Bickleigh Castle has been Mike Boxhall's home for more than 34 years.

It's one of the smallest castles in Britain. And one of the loveliest - but the Lord of the Manor is selling up and moving on. The sadness he feels is just the same as anyone who has to say goodbye to a property they love, Mike says never underestimate the fun of it.

Of course most of us don't live in homes with 4-poster beds, or have our own personal armoury downstairs

But, however grand the home, playing the property market is a kind of national sport.

Martin Lamb from Savilles' estate agents says joining the euro would mean continental-style taxes on homeowners. A threat - he thinks - to a certain way of life, and the tradition that an Englishman's home is his castle.

We are, it seems we are a nation of home makers and property lovers. That's only a problem because there's such a shortage of good accommodation particularly here in the south. So what's it like over in continental Europe.

In France and Germany people traditionally have been much less keen than the British on owning their own homes.

In continental Europe it's always been much easier and cheaper - to rent rather than buy.

If Britain were to join the euro - would we have to go cool on our love of home-owning?

There could be European-style mortgages or even taxes on home ownership.

And how much of a threat would that really be - to our national identity?
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