Madness in the London Housing Market

Fraise

There's so much talk about London property prices and people have been speculating for years and years, and for years and years it keeps rising. I think we have to accept that London will always be expensive to buy property, and I'm not just talking prime property in Mayfair.

The ripple effect started decades ago and now all of inner and greater London is expensive. Both for purchasing and renting. Even outside the M25 on the outskirts if London it's rippling away and prices are going up.

I think people will have to choose between moving much further out of London or settling for one of the less salubrious areas. Amazingly enough, many young professionals seem to like rundown areas if London as they think they're edgy and trendy. It's a funny old world...

padington

Samsonite1 wrote: »

If a huge global economic crisis cannot bring London prices down significantly (in that they are higher than before even now), then what will?

A speculative bubble.

However we are a long way off, in my opinion. Prices right now are cheap given the fundamentals.