London house prices up again. The latest Land Registry numbers show London prices rose 7% year-on-year, and 2.5% on a month by month basis. I'm never going to get the little Bayswater bolthole I've been dreaming of at this rate.
You can read endless past articles by us on our conviction that the London property market is grossly overpriced, but just because it is overpriced in sterling doesn't mean it can't get more overpriced. Let's not forget that every word Mervyn King utters in his efforts to force down the pound makes the houses we can't afford to buy just that little bit cheaper for anyone buying in a foreign currency. Cut-price safe havens for them; a move further into the suburbs for the rest of us.
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