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@Hefty
As above : Supply vs. demand vs. affordability is all that matters.
Supply : They're still not building enough houses. Everyone knows that.
Demand : Can change if jobs move away from an area, but that won't happen with Ldn.
Affordability : Mortgage interest rates won't change much for a long time, even when the base rate inevitably does.
The base rate is 0.5%, rates are more like 3%+. Historically mortgage lending has been nearer parity with the base rate.
When the base rate goes up lenders will reduce the margin between it and their lending rates. If they don't they risk a[nother] collapse.
I therefore conclude that prices will continue to rise at an average of 10% per year like they have done since Jesus was a lad.