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GOOD NEWS ON HOUSE PRICES: "£400,000 average house price fuels fear of boom" (surely not?)

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"London's average house price smashed through the £400,000 barrier for the first time last month, as the capital’s remarkable property bubble gathered momentum.

"Property values shot up by more than £10,000, or 2.6 per cent, in December alone, according to the Land Registry, reaching an average of £403,792.

"The 11.2 per cent annual rise was the highest since summer 2010, when prices were bouncing back from the slump triggered by the global financial crisis."

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