foxy said:
London property property prices are well over saturation point. The place is also over populated in my opinion. I know some crazy commuters myself, one from Peterborough and another from Ipswich. There was a guy I know of who use to go back to Spain for the weekends so this article is pretty accurate.
What's more shocking is a lot of the pricey houses around the centre are empty with wealthy foreigners investing their money in property as a safe haven.
I actually feel sorry those brought up in London as they are the ones who are struggling to afford property.
London prices are not over any point of saturation. The demand is still too high.
We have been keeping an eye on the market for a bigger house nearby. Even in the last year, house prices have gone up as much 20% on the same street in the last year. It's bloody depressing saving money and finding prices rising at a much faster rate.
Even in the sticks in north Barnet, you are looking at £500k for a bog standard 3 bed (with one of them being a box room), semi with shared drive in an 'ok' area. Not to mention, at least 10mins walk to the tube.