London property now 30% above 2007's peak
The most striking number was for London, where house prices in the three months to June were 25.8 per cent higher than a year earlier - an annual increase not seen since 1987. "The price of a typical property in London reached the 400,000 pound (US$681,000) mark for the first time, with prices in the capital now around 30 percent above their 2007 highs and more than twice the level prevailing in the rest of the UK," said Nationwide's chief economist Robert Gardner.
Bubble, what bubble?
Ride at your own risk !!!