Well, I've been looking on this site for a long time now. Yes I should have bought back in 2009. BUT, now, it has definitely reached a point of insanity. I had a look on a road I used to live on in Kilburn, just off the high road which is the same as it ever was (not gentrified). A one bed flat there asking price £625 000. I've spent the last 6 months looking for a flat to buy in South- East London, but I just can't keep track of price changes, just dont know what to offer. So today I decide to give it a break for year. I have a feeling things will turn in October, and I predicted it perfectly in 2007 (I just didnt get round to buying once the prices had dropped a bit!).
http://www.rightmove.co.uk/property-for-sale/property-52476104.html