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My sister has just bought a house back home, 4 bedrooms, double garage, a few living rooms, conservatory, etc for £240k.
I could get this 3 bed end-of-terrace for what my loft conversion will cost me http://www.rightmove.co.uk/property-for-sale/property-67731068.html
I always, out of morbid curiosity, compare what my budget could get me back "home" (Norwich) and it always makes me a little sad. You can find perfectly nice 2 up 2 downs for sub 200k.
Friends who feel priced out of East are talking about moving to a place called Crystal Palace which makes me sad as I have never even heard of it and it prob doesnt have Bullet trains.