Properties in London are now almost 60% more costly than they were prior to the 2008 financial

While it is hardly a revelation that London property is incredibly expensive, the statistic illustrates not only the huge disparity between London and the rest of the UK — where prices are roughly 23% above their previous peak — but also just how completely unprecedented the current London property boom, which doesn’t look to be ending anytime soon, is.

Prices in the capital reached their previous peak just prior to the 2008 financial crisis, but crashed massively in response to the crisis, with demand for new properties tanking. Since the end of the GFC however, a wave of foreign investment into London, and a huge imbalance in supply and demand in the property market, have pushed prices skywards.

http://uk.businessinsider.com/latest-ons-house-price-data-for-the-uk-2016-5

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