Is the London property market out of control?

[totallyproperty]

The latest figures suggest that the London property market is still pushing ahead with the average property now worth in excess of £400,000. This is a phenomenal 30% increase from the previous high in 2007 and perfectly illustrates the strength and power of the London real estate sector. However, it also begs the question, is the London property market out of control?

 

[Ged Ward]

I would say to a degree it ois out of control but will get brought back into line once interest rates rise. There are a lot of overseas investors that have made money in their own countries putting money into the UK markets. Once interest rates start rising and mortgages become more expensive i think you may see it slow down.
Although the UK with its shortage of land and increasing population could keep it growing so its a case of watch this space as far as i can see

Ged