Owning your own home

thats true - I'd have been chuffed getting a 3pc return a year and it being worth 275-280 after a couple of years. I've no doubt the market is correct and I'd get nearly 400k. It doesnt make it logical and to be honest it doesnt make it right either. A lot of people now have a choice - get into the market at the very top and hope it climbs if they are buying in what you suggest is a rapidly appreciating area, or stay out and wait till it falls back slightly towards fair value..

You are making the assumption that this is the very top- we could be halfway there, and in 2020 your flat would have a "fair value" of 800k