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Yes! No! Maybe!
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Your guess is as good as anyone else's.
When I first bought in London I had people warning me prices were unsustainable. They probably still are, but keep going up.
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The worst thing you can do is buy at the top of the market and sell at the bottom. or worse, be forced to sell at the bottom. If as @Dammit suggests Brexit kills the housing market we'll have lots of other problems to worry about, like the collapse of our economy.
Otherwise, you'll be fine.
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if interest rates went up significantly it would ruin the London market as borrowing huge sums of money would be untenable for most. I don't think that would happen as it would also ruin the spending power of a lot of the nation.
If inflation goes rampant we are fucked.
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Depends how long you want to live there and how your requirements for space may change (kids?). If you can pay the mortgage in a variety of stress scenarios you can ride out any crash and hopefully be OK on the other side.
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A sweet fixie will hold it's value
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Howard
andyp
Bainbridge
NickCJ
amey
@umop3pisdn
As someone making steps towards buying (not London), should I be sitting tight?