Despite high prices and rising interest rates, recent figures from mortgage lenders show that the property market is acutally booming, writes BBC. I personally find it hard to explain, taking into account the fact, that the affordability levels are falling throughout the country, and especially in large towns, and the first time buyers often require parents' help to get on the so called property ladder.

In London, according to many lenders, estate agents and analytics, the rise is even higher than in other parts of the country. I feel that only the recent inflow of workers from the new EU countries, such as Poland, Baltic states etc., prevented the market from falling, since the demand went up and not enough new development was in place.