House price boom to last ten years says Osborne...

So George Osborne was recently quoted as saying that this lovely (he didn't use the word lovely) rise in house prices could well continue for another ten years. Prices in London are up 11.6% in a year and 4.5% in the South East.

The Chancellor assured peers and the public that this pick up in house prices won't result in a dangerous bubble and said it will be 2020 before house prices return to their pre–recession peak in real terms.