I find it interesting that you diss " the idiotic culture of speculation in this country " and then , in the same post , talk about potential gains to be made out of rough or unpopular areas .
Btw , I think there is way too much speculating in property and it's far to risky in my opinion .
As far as prices and inflation go , I simply look at human behaviour. People will spend largely all they earn . Retailers know this . That's why people are flat out buying and upgrading their stuff all the time . Why people choose to live in cities and pay enormous rents rather than live somewhere more affordable has always intrigued me . The employment argument doesn't necessarily stack up for me . I believe it's more about choice. So , while they continue to do that , the demand will always be there .
The property market is changing . Historical trends and values may not apply going forward however while demand remains , so will price pressure . For that reason , I call property a hold .
