Andrew Gimson

The property bubble is waiting to burst

Andrew Gimson asks why, in the middle of a violent recession, London property is still so hideously overvalued. The real pain may be yet to come

issue 13 February 2010

As a general rule, it is a mistake to go through life thinking about how much one’s house is worth. In the summer of 2002, when I bought my ‘lovely end of terrace period cottage providing compact character accommodation’ in Gospel Oak, London NW5, I assumed I had managed, with unerring incompetence, to buy at the very top of the boom.

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