Massive bubble building up in London property market

Property prices in Belfast may be down 50 to 60% from their peaks but London Prime property prices are up 24% from the peak of the last bubble and homes worth more than £5m are now 32% above their peak as reported by the Financial Times. The Financial Times further reports today that much of this demand is driven by overseas investors escaping Eurozone troubles as well as Middle Eastern investors with commercial property sales of £2.75 billion for the first quarter of 2013 alone. As the video explains a bubble of massive proportions seems to be building once again in London prime property and spreading to the rest of southeastern England. Cashing out of this bubble within the next few months would seem well advised.