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London House Prices Are The Most Overvalued In The World

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London house prices are the most overvalued in the world, report says...

UBS economists warn the inflated prices in the capital are a bubble at risk of bursting

The London housing market faces a “substantial” correction according to a report which said properties in the capital are the most overvalued in the world. Economists at UBS warned inflated prices are a bubble at risk of bursting with prices bearing no relation to incomes. The bank’s Global Real Estate Bubble Index blamed demand from foreign investors looking for safe havens for their money as the biggest cause of sky-high valuations. However, despite house prices rising 40 per cent on average since 2013 the economists said they should not expect decent returns in the medium to long run. The Index said “global geopolitical risk and the high property valuations in Asian cities” also contributed to propelling London house prices to new heights.

independent article here...

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Now UK politicians can go to places like Monaco and s w a n k around mocking Monaco's cheap housing.

(s w a n k means show off) - definition included as the word got asterisked :rolleyes:

Edited by billybong

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It won't be long now. Either London is going to collapse on its own accord or by design (the word bubble has found its way into the Mainstream media - even the BBC) This doesn't happen by accident. Even the greatest fool would think twice now.

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Those UBS economists again, glass half empty.

London isn't expensive. It's CHEAP! It's the rest of the world that needs to get upto London's level, and then everywhere will be cheap! :wacko:

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Beat me to it and gave the correct link!

Just realised that I haven't read the original report yet! :o

Edited by renting til I die

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Were you sure your can't say *****?

:) That might have been a better word. Maybe I should have just left it asterisked.

It got asterisked to s****.

So the original word could have been almost anything. Maybe even worse than s w an k without the spaces. More craziness in the UK - maybe there'll be a song written about it in due time.

Edited by billybong

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