I recently carried out a piece of work related to the property market in London, it seems that the expected rule of thumb (which I have indeed read about in many related articles - so this is no secret) is that an additional 5% - 10% will come off property value by the end of this year across the greater london area, a total of 20 -25% since the decline last summer. Then there will be a period of static value throughout 2011 then a slow rise in 2012 coming up to the Olympics and a continual slow growth, albeit at a smaller % in the following years. London is still a growing city and this will continue so eventually demand will be greater than supply, which will affect value too.

Luckilly we in SE23 have the tube ext coming here. This is one of the main reasons I bought here 3 years ago. I think we will recover much quicker than some other areas in London. Any improvement in infrastucture improves property values. Lets try and be a bit more optimistic As long as we are in the fortunate position to stay put all will work itself out.