His article is worth a read, though I don't entirely agree with his analysis.
I just put his main bullet points here, including the chart under point 2 which shows that prices across London have indeed shot up tremendously in the past few months.
1. Prices are rising very fast
2. Prices rises are no longer just in “prime” areas
3. Prices are still high in real terms
4. House prices vs earnings are at historic highs
5. Mortgage burden hardly dropped in London
Happy investing!
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