The Telegraph writes about the sharp divergence between London home prices and the rest of the UK.

The ONS said: “Average UK house prices were around 4.4pc higher in March 2014 than in the first quarter of 2008. However, as the chart suggests, much of this is due to relatively rapid house price growth in London. Prices here were around 27.6pc above their first-quarter 2008 level in March 2014. Excluding London, UK house prices remain slightly below their pre-downturn peak.”

They note that foreign demand might be playing a part — I think they’re onto something.