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Uh huh. I'd say it is investing though really, no? The value of your property can go down as well as up which isn't the case with money in the bank.
If you're worried about what house prices are going to do in London I'd be worried about house prices might do in Scotland too. But if you just want to buy it as somewhere to live in one day and won't plan to sell I guess that doesn't matter.
Fox
Mortgage free we can afford a parking space or two. But the point was, I'm not comfortable getting a mortgage right now. There are a number of reasons why, but one of them is made quite explicit with that graph you've provided.
This is why the question was expressed as one about moving savings, rather than investing.