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Old 23.10.2018, 19:32
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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Jein.

<<In the 1960s and 1970s, the population of London fell as people moved to the suburbs and beyond.>> source

I wouldn't know whether property generally is overpriced in London.
But it is extremly obvious that the supply and demand is different. And that is something that deeply influences the property market. And brings the speculators into the arena. So yes, the properties are overpriced but for other reasons than assumed here.
The definition of London has changed. In 1960 Highgate Zone 3 underground was in Middlesex a suburb. London taxi drivers can refuse the fare as its more than 6 miles from Marble Arch. It's definitely considered London today.

Demand is the ability to pay, not desire or need.

Cheap money & ability to borrow without proof if income in the early 2000's hugely increased prices. Help to Buy free interest loans of 400,000 stoke the ability to pay, only problem is interest is payable after 5 years & it's only available for new builds.
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