Ominous signs in the London housing market

Deep structural issues in the London housing market are distorting economic behaviour, with prices wildly out of step with earnings. Has the property boom peaked for good?

London - Do I or do I not inhabit a bubble in the London housing market?

It feels like a bubble. I have received an offer for our house significantly higher than I had expected, and I know where I would like to move to. The Barbican in the City of London is a sprawling development of high and low rise flats surrounded by every conceivable variety of cultural venue. There are flats for sale, but they would stretch our budget, and, as the weeks have gone by, prices have risen swiftly. A local agent reported that each sale was going for £100,000 more than the previous one; that is consistent with a rise of around 7.5 per cent.

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