In the districts dubbed SoTo and NoTo punters are queuing up to re-sell flats that don’t exist. Isn’t this how the crash occurred?
For anyone without substantial investments, reading about the property market in the capital has become a kind of torture porn, in which every new detail horrifies more than the last. At the top of the market there are record-breaking deals such as the £140m closing price for an apartment overlooking Hyde Park; and then there are record-breaking deals such as the tiny studio, albeit in Mayfair, that was let out within 40 minutes of being advertised. These things never fail to depress, and yet one can’t quite drag one’s eyes away.
Related: £140m for a flat? Perhaps the buyer would like to see my Kilburn des res | David Mitchell
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