Are house prices really back in a bubble?

Our national newspapers are mostly written in London – where house prices have risen nearly 18% in the last year. So if you read them, you will be firmly of the view that house prices are back in bubble territory, and that if you don’t buy now, you will miss the boat forever. But if you look more closely at the numbers, you will see that it simply isn’t so.

Instead, as the Council for Mortgage Lenders notes, most “of the property market... exists outside London... much of it is experiencing nothing like the euphoric conditions that are [...]

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