Great coverage here from my favourite blog (Londonist) for my home away from home:
The average price of a home in the city already stands somewhere around the £383,000 mark. But the Centre for Economics and Business Research predicts this’ll rise around 31% over the next five years, breaching the £500,000 mark comfortably before 2020. That’s a faster rise than any other UK region: in the north east, by contrast, the CEBR reckons prices will climb barely 2.3% by 2018.
London has always been an expensive place to live, especially as the buildings became nicer/cleaner. With the virtual demolition of whole swaths of the East End for the Olympic games, a valuable redevelopment chance was missed. In my humble opinion.